INCREASE OF MINIMUM ACCUMULATED EARNINGS CREDIT.

SEC. 205. INCREASE OF MINIMUM ACCUMULATED EARNINGS CREDIT. (a) Increase.—Paragraphs (2) (relating to minimum accumulated earnings credit) and (3) (relating to accumulated earnings credit for holding and investment companies) of section 535 (c), and section 1551 (relating to disallowance of surtax exemption and accumulated earnings credit), of the Internal Revenue Code of 1954 are each amended by striking out “$60,000” and inserting in lieu thereof “$100,000”. (b) Effective Date.—The amendments made by subsection (a) shall apply with respect to taxable years beginning after December 31, 1957.