A bill to amend the Internal Revenue Code of 1954 (26 U.S.C. Section 542(d)) to provide that for purposes of the tax on certain income of personal holding companies, the term "lending or finance business" shall not include the business of making loans, etc., with a maturity exceeding one hundred twenty (120) months.

[AI summary unavailable — showing source text] Provides that for purposes of the tax under the Internal Revenue Code on income of personal holding companies, the term "lending or finance business" shall not include the business of making loans, and so forth, with a maturity exceeding 120 months. (Amends 26 U.S.C. 542(d))…