ONE-YEAR EXTENSION OF CORPORATE NORMAL-TAX RATE.

SEC. 201. ONE-YEAR EXTENSION OF CORPORATE NORMAL-TAX RATE.Section 11(b) (relating to corporate normal tax), section 821(a)(1)(A) (relating to mutual insurance companies other than interinsurers), and section 821(b)(1) (relating to interinsurers) of the Internal Revenue Code of 1954 are amended as follows: (1) By striking out “july 1, 1960” each place it appears and inserting in lieu thereof “july 1, 1961”; (2) By striking out “July 1, 1960” each place it appears and inserting in lieu thereof “July 1, 1961”; (3) By striking out “june 30, 1960” each place it appears and inserting in lieu thereof “june 30, 1961”; (4) By striking out “June 30, 1960” each place it appears and inserting in lieu thereof “June 30, 1961”.