Page:United States Statutes at Large Volume 90 Part 2.djvu/1582

 90 STAT. 3050

CONCURRENT RESOLUTIONS—SEPT. 16, 1976 a foreign corporation such report shall be required only of a United States shareholder (within the meaning of such section) of such corporation. "(2)

PARTICIPATION AND COOPERATION; REQUEST THEREFOR.—^A

taxpayer shall report whether he, a foreign corporation of which he is a United States shareholder, or any member of a controlled group which includes the taxpayer or such foreign corporation has participated in or cooperated with an international boycott at any time during the taxable year, or has been requested to participate in or cooperate with such a boycott, and, if so, the nature of any operation in connection with which there was participation in or cooperation with such boycott (or there was a request to participate or cooperate). "(3) LIST TO BE MAINTAINED.—The Secretary shall maintain and publish not less frequently than quarterly a current list of countries which require or may require participation in or cooperation with an international boycott (within the meaning of subsection (b)(3)). (40) In section 999(b) of the Code (as added by section 1064(a) of the bill) — (A) in paragraph (1), strike out "the taxpayer" each place it appears and insert "the person", (B) in paragraph (1), strike out "he did not participate in or cooperate with" and insert "there was no participation in or cooperation with", and (C) in paragraph (4), strike out "a taxpayer" and insert "a person". (41) In section 999(c)(2) of the Code (as added by section 1064(a) of the bill)— (A) strike out "by the taxpayer", (B) strike out "with respect to his world-wide operations", (C) strike out "amounts" and insert "amount", and (D) strike out "the taxpayer participated in or cooperated with" and insert "there was participation in or cooperation with". (42) In section 999(d) of the Code (as added by section 1064 (a) of the bill)— (A) strike out "the taxpayer" the second time it appears and insert "a person", and (B) strike out "the taxpayer" the third time it appears and insert "that person". (43) In section 999 of the Code (as added by section 1064(a) of the bill) strike out subsection (e) and insert the following: "(e)

PARTICIPATION OR COOPERATION BY RELATED PERSONS.—If a

person controls (within the meaning of section 304(c)) a corporation— "(1) participation in or cooperation with an international boycott by such corporation shall be presumed to be such participation or cooperation by such person, and "(2) participation in or cooperation with such a boycott by such person shall be presumed to be such participation or cooperation by such corporation. (44) In section 6110(f)(6) of the Code (as inserted by section 1201(a) of the bill) strike out "under this subsection" and insert "under this section". (45) In section 6110(i)(2) of the Code (as inserted by section 1201(a) of the bill) strike out "that such employee" and insert "that an employee".

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