A bill to amend Public Law 97-34.

[AI summary unavailable — showing source text] Amends the Economic Recovery Tax Act of 1981 to make retroactive to June 30, 1969, provisions which state that, for purposes of the taxation of property transferred to an employee as compensation for services, such property shall be considered subject to a substantial risk of forfeiture and not transferable if the sale of such property could subject a person to a suit under certain provisions of the Securities and Exchange Act of 1934 or if transfer of the property is restricted under the pooling-of-interests accounting rules. Requires taxpayers to elect the application of such provisions in taxable years before 1984.…