A bill to amend section 832(e) of the Internal Revenue Code of 1954.

[AI summary unavailable — showing source text] Provides that in the case of any taxable year beginning after December 31, 1970, the provision of the Internal Revenue Code allowing a special deduction and income account shall also apply in all respects to a company which writes lease guaranty insurance or insurance or governmental obligations the interest on which is excludable from gross income. (Adds 26 U.S.C. 832 (e)(6))…