A bill to repeal the 3-month holding period reqirement applicable to regulated investment companies.

[AI summary unavailable — showing source text] Repeals the Internal Revenue Code provision that precludes a corporation (mutual fund) from income tax treatment as a regulated investment company unless less than 30 percent of its gross income is derived from the sale or other disposition of stock or securities held for less than three months (thereby qualifying such companies for conduit treatment that taxes distributed income and gain at the shareholder level rather than at the corporate level).…