S.Amdt. 1712

SA 1712. Mr. CORNYN submitted an amendment intended to be proposed to
amendment SA 1618 proposed by Mr. McConnell (for Mr. Hatch (for himself
and Ms. Murkowski)) to the bill H.R. 1, to provide for reconciliation
pursuant to titles II and V of the concurrent resolution on the budget
for fiscal year 2018; which was ordered to lie on the table; as
follows:

At the appropriate place in subtitle D of title I, insert
the following:

SEC. __. CLARIFICATION OF DEFINITION OF QUALIFYING INCOME FOR
A PUBLICLY TRADED PARTNERSHIP.

(a) In General.--Section 7704(d)(1) is amended--
(1) in subparagraph (F), by striking ``and'' at the end;
(2) in subparagraph (G), by striking the period at the end
and inserting ``, and''; and
(3) by inserting after subparagraph (G) the following new
subparagraph:
``(H) income inclusions under sections 951 and 951A, and
other similar amounts included in gross income with respect
to the ownership of stock.''.
(b) Effective Date.--The amendments made by subsection (a)
shall apply to income inclusions on or after November 2,
2017.
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