Page:United States Statutes at Large Volume 88 Part 2.djvu/138

 1454

Appropriation.

15 USC 78b

note.

PUBLIC LAW 93-480-OCT. 26, 1974

[88 STAT.

half years after enactment of this Act, a full and complete report of the findings made under the study authorized by this Act, together with such recommendations as they consider appropriate. SEC. 11. There is authorized to be appropriated a sum not to exceed $3,000,000 to carry out the purposes of this Act. Any funds so appropriated shall remain available until expended. Approved October 26, 1974. Public Law 93-480

October 26, 1974 [H. R.11452]

Crude feathers and downs, duty rate; personal holding company, income e x c l u s i o n; health insurance for the aged.

AN ACT To correct an anomaly in the rate of duty applicable to crude feathers and downs, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That subpart B of part 1 of the Appendix to the Tariff Schedules of the United States (19 U.S.C. 1202) is amended by inserting immediately before item 903.90 the following new items: Feathers and downs, whether or not on the skin, crude, sorted (including feathers simply strung for convenience in handling or transportation), treated, or both sorted and treated, but not otherwise processed (provided for in item 186.15, part 15D, schedule 1): Meeting both test methods 4 and 10.1 of Federal Standard 148a promulgated by the General Services Administration.. Free 903.80

Effective date. 19 USC 1202 note.

Corporations, consolidated returns. 26 USC 542.

Other

Free

No change Free

On or before 6/30/79 On or before 6/30/79

SEC. 2. The amendment made by the first section of this Act shall apply with respect to articles entered, or withdrawn from warehouse, for consumption on or after the 180th day after the date of the enactment of this Act. SEC. 3. (a) Section 542(b) of the Internal Revenue Code of 1954 (relating to corporations filing consolidated returns) is amended by adding at the end thereof the following new paragraph: " (5) CERTAIN DIVIDEND INCOME RECEIVED FROM A NONINCLUDIBLE LIFE

26 USC 542 note. Health insurance for the aged, c o v e r a g e, exclusion. 42 USC 1395y. Report to congressional committees. 42 USC 1395y note.

INSURANCE COMPANY.—In the case of an affiliated group of corporations filing or required to file a consolidated return under section 1501 for any taxable year, there shall be excluded from consolidated personal holding company income and consolidated adjusted ordinary gross income for purposes of this part dividends received by a member of the affiliated group from a life insurance company taxable under section 802 that is not a member of the affiliated group solely by reason of the application of paragraph (2) of subsection (b) of section 1504.". (b) The amendment made by this section shall apply to taxable years beginning after December 31, 1973. S E C 4. (a) Section 1862(c) of the Social Security Act is amended by striking out "January 1, 1975" and inserting in lieu thereof "January 1, 1976". (b) The Civil Service Commission and the Secretary of Health, Education, and Welfare shall submit to the Committee on Post Office and Civil Service and the Committee on Ways and Means of the House of Representatives, and to the Committee on Post Office and Civil Service and the Committee on Finance of the Senate, on or before March 1, 1975, a report on the steps which have been taken, and the

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