Page:United States Statutes at Large Volume 90 Part 1.djvu/1323

 PUBLIC LAW 9 4 - 4 1 4 — S E P T. 17, 1976

90 STAT. 1273

Public Law 94-414 94th Congress An Act To amend section 584 of the Internal Revenue Code of 1954 with respect to the treatment of aflSliated banks for purposes of the common trust fund provisions of such Code.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That section 584(a) of the I n t e r n a l Revenue Code of 1954 (relating to common trust funds) is amended by adding a t the end thereof the following new sentence: " For purposes of this subsection, t w o or more banks which are members of the same affiliated group (within the meaning of section 1504) shall be treated as one bank for the period of affiliation with respect to any fund of which any of the member banks is trustee or two or more of the member banks are cotrustees.". SEC. 2. The amendment made by the first section of this Act shall apply to taxable years beginning after December 31, 1975.

Sept. 17, 1976 [H.R. 5071]

Taxes. Common trust funds, treatment of affiliated banks. 26 USC 584.

26 USC 584 note.

SEC. 3. WITHHOLDING; ESTIMATED TAX PAYMENTS. (a) WITHHOLDING.—

(1) IN GENERAL.—Section 3402'(a) of the I n t e r n a l Revenue Code of 1954 (relating to income tax collected at source) is 26 USC 3402. amended by striking out "September 15, 1976" and inserting i n lieu thereof "October 1, 1976". (2)

TECHNICAL

AMENDMENT.—Section

209(c)

of

the

Tax

Reduction Act of 1975 is amended by striking out "September 15, Ante, p. 1201. 26 USC 3402 1976" and inserting in lieu thereof "October 1, 1976". (b) ESTIMATED T A X P A Y M E N T S BY INDIVIDUALS.—Section 6153(g)

note.

of such Code (relating to installment payments of estimated income 26 USC 6153. by individuals) is amended by striking o u t "September 15, 1976" and inserting in lieu thereof "October 1, 1976". (c) ESTIMATED T A X P A Y M E N T S BY CORPORATIONS.—Section 6154(h)

of such Code (relating to installment payments of estimated income by 26 USC 6154. corporations) is amended by striking out "September 15, 1976" and inserting in lieu thereof "October 1, 1976". Approved September 17, 1976.

LEGISLATIVE HISTORY: HOUSE REPORT No. 94-892 (Comm. on Ways and Means). SENATE REPORT No. 94-1183 (Comm. on Finance). CONGRESSIONAL RECORD, Vol. 122 (1976): May. 13, considered and passed House. Sept. 14, considered and passed Senate, amended; House concurred in Senate amendment.

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