Page:United States Statutes at Large Volume 118.djvu/1676

 118 STAT. 1646 PUBLIC LAW 108–357—OCT. 22, 2004 customs services in connection with the activity or item for which the fee is charged under such paragraph; and ‘‘(IV) any fee collected under any such paragraph shall be available for expenditure only to pay the costs described in subsection (f)(3)(A) incurred in providing customs services in connection with the activity or item for which the fee is charged under such paragraph.’’. (d) CLERICAL AMENDMENTS.—Section 13031 of the Consolidated Omnibus Budget Reconciliation Act of 1985 is amended— (1) in subsection (a)(5)(B), by striking ‘‘$1.75’’ and inserting ‘‘$1.75.’’; (2) in subsection (b)— (A) in paragraph (1)(A), by aligning clause (iii) with clause (ii); (B) in paragraph (7), by striking ‘‘paragraphs’’ and inserting ‘‘paragraph’’; and (C) in paragraph (9), by aligning subparagraph (B) with subparagraph (A); and (3) in subsection (e)(2), by aligning subparagraph (B) with subparagraph (A). (e) STUDY OF ALL FEES COLLECTED BY DEPARTMENT OF HOME LAND SECURITY.—The Secretary of the Treasury shall conduct a study of all the fees collected by the Department of Homeland Security, and shall submit to the Congress, not later than Sep tember 30, 2005, a report containing the recommendations of the Secretary on— (1) what fees should be eliminated; (2) what the rate of fees retained should be; and (3) any other recommendations with respect to the fees that the Secretary considers appropriate. SEC. 893. PROHIBITION ON NONRECOGNITION OF GAIN THROUGH COMPLETE LIQUIDATION OF HOLDING COMPANY. (a) IN GENERAL.—Section 332 is amended by adding at the end the following new subsection: ‘‘(d) RECOGNITION OF GAIN ON LIQUIDATION OF CERTAIN HOLDING COMPANIES.— ‘‘(1) IN GENERAL.—In the case of any distribution to a foreign corporation in complete liquidation of an applicable holding company— ‘‘(A) subsection (a) and section 331 shall not apply to such distribution, and ‘‘(B) such distribution shall be treated as a distribution to which section 301 applies. ‘‘(2) APPLICABLE HOLDING COMPANY.—For purposes of this subsection: ‘‘(A) IN GENERAL.—The term ‘applicable holding com pany’ means any domestic corporation— ‘‘(i) which is a common parent of an affiliated group, ‘‘(ii) stock of which is directly owned by the dis tributee foreign corporation, ‘‘(iii) substantially all of the assets of which consist of stock in other members of such affiliated group, and Deadline. Reports. 19 USC 58c.

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