Page:Emergency Economic Stabilization Act of 2008.djvu/96

 O:kiYOkiYO08C04.xml 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 96 TITLE Ill--TAX PROVISIONS SEC. 301. GAIN OR LOSS FROM SALE OR EXCHANGE OF CERTAIN PREFERRED STOCK. (a) IN GENERAL.--For purposes of' the Internal Rev- enue Code of 1986, gain or loss from the sale or exchange of any applicable preferred stock by any applicable finan- cial institution shall be treated as ordinaT income or loss. (b) APPLICABLE PREFERRED STOCK. For purposes of this section, the term "applicable preferred stock" means any stock- (l) which is preferred stock in- (A) the Federal National Mortgage Asso- ciation, established pursuant to the Federal Na- tional Mortgage Association Chaer Act (12 U.S.C. 1716 et seq.), or (B) the Federal Home Loan Mortgage Corporation, established pursuant to the Fed- eral Home Loan Mortgage Corporation Act (12 U.S.C. 1451 et seq.), and (2) which (A) was held by the applicable financial in- stitution on September 6, 2008, or (B) was sold or exchanged by the applica- ble financial institution on or after JanuaT 1, 2008, and before September 7, 2008.

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