DEFINITION OF EARNINGS AND PROFITS IN THE CASE OF REGULATED INVESTMENT COMPANIES.

SEC. 101. DEFINITION OF EARNINGS AND PROFITS IN THE CASE OF REGULATED INVESTMENT COMPANIES. (a) Amendment of Section 852 (a).—Section 852 (a) (relating to requirements applicable to regulated investment companies) is amended by striking out “this subchapter” and inserting in lieu thereof “this subchapter (other than subsection (c) of this section)”. (b) Amendment of Section 852 (c).—Section 852 (c) (relating to definition of earnings and profits in the case of regulated investment companies) is amended by adding at the end thereof the following new sentence: “For purposes of this subsection, the term ‘regulated investment company’ includes a domestic corporation which is a regulated investment company determined without regard to the requirements of subsection (a).” (c) Effective Date.—The amendments made by this section shall apply with respect to taxable years of regulated investment companies beginning on or after March 1, 1958.