Page:United States Statutes at Large Volume 62 Part 1.djvu/166

 136 PUBLIC LAWS-CH. 168-APR. 2, 1948 [62 STAT. TITLE VI-FISCAL YEAR TAXPAYERS SEC. 601. FISCAL YEAR TAXPAYERS. 59 Stat. 570. Section 108 of the Internal Revenue Code is hereby amended by 26 US striking out "(d)" at the beginning of subsection (d) and inserting in lieu thereof "(e)", and by inserting after subsection (c) the following: "(d) TAXABLE YEARS OF INDIVIDUALS BEGINNING IN 1947 AND END- ING IN 19 48. -In the case of a taxable year of an individual begin- 2t6 '5. 1112. ning in 1947 and ending in 1948, the tax imposed by sections 11, 12, Aae, pp. 111, 114, and 400 shall be an amount equal to the sum of- 128. "(1) that portion of a tax, computed as if the law applicable to taxable years beginning on January 1, 1947, were applicable to such taxable year, which the number of days in such taxable year prior to January 1, 1948, bears to the total number of days in such taxable year, plus "(2) that portion of a tax, computed as if the law applicable to taxable years beginning on January 1, 1948, were applicable to such taxable year, which the number of days in such taxable year after December 31, 1947, bears to the total number of days m such taxable year." JOSEPH W. MARTIN Jr Speaker of the House of Representatives. A H VANDENBERG Presidentof the Senate pro tempore. IN THE HOUSE OF REPRESENTATIVES, U. S., April 2,1948. The House of Representatives having proceeded to reconsider the bill (H. R . 4790) entitled "An Act to reduce individual income tax payments, and for other purposes," returned by the President of the United States with his objections, to the House of Representatives, in which it originated, it was Resolved, That the said bill pass, two-thirds of the House of Repre- sentatives agreeing to pass the same. Attest: JOHN ANDREWS Clerk. I certify that this Act originated in the House of Representatives. JOHN ANDREWS Clerk. IN THE SENATE OF THE UNITED STATES, April 2 (legislativeday, March 29), 1948. The Senate having proceeded to reconsider the bill (H. R. 4790) "An Act to reduce individual income tax payments, and for other purposes", returned by the President of the United States with his objections, to the House of Representatives, in which it originated, and passed by the House of Representatives on reconsideration of the same, it was Resolved, That the said bill pass, two-thirds of the Senators present having voted in the affirmative. Attest: CARL A. LoEFrFER Secretary.

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