CONSOLIDATED RETURNS OF REGULATED PUBLIC UTILITIES.

SEC. 514. CONSOLIDATED RETURNS OF REGULATED PUBLIC UTILITIES. Section 448 (e) (relating to consolidated returns of regulated public utilities) is hereby amended by adding at the end thereof the following new sentence: “For purposes of filing a consolidated return with its railroad lessee corporation, a railroad lessor corporation described in section 434 (d) (without regard to the requirement of payment of the lessor’s taxes by the lessee) shall be considered a corporation described in subsection (c) (3).”