EXCESS PROFITS CREDIT—REGULATED PUBLIC UTILITIES.

SEC. 513. EXCESS PROFITS CREDIT—REGULATED PUBLIC UTILITIES. Section 448 (c) (3) (relating to regulated public utilities) is hereby amended to read as follows: “(3) 6 per centum in the case of a corporation engaged as a common carrier (A) in the furnishing or sale of transportation by railroad, if subject to the jurisdiction of the Interstate Commerce Commission, or (B) in the furnishing or sale of TRANSPORTATION of oil or other petroleum products (including shale oil) by pipe line, if subject to the jurisdiction of the Interstate Commerce Commission or if the rates for such furnishing or sale are subject to the jurisdiction of a public service or public utility commission or other similar body of the District of Columbia or of any State.”