EXTENSION OF TAX SURCHARGE.

SEC. 701. EXTENSION OF TAX SURCHARGE. (a) Surcharge Extension. Section 51(a) (relating to imposition of tax surcharge) is amended— (1) by adding at the end of paragraph (1)(A) the following: “CALENDAR YEAR 1970: TABLE 1.—SINGLE PERSON (OTHER THAN HEAD OF HOUSEHOLD) AND MARRIED PERSONS FILING SEPARATE RETURNS If the adjusted tax is: The tax is— If the adjusted tax is: The tax is— At least But less than At least But less than 0 $155 0 $1,020 $1,060 $26 $155 175 $1 1,060 1,100 27 175 195 2 1,100 1,140 28 195 215 3 1,140 1,180 29 215 235 4 1,180 1,220 30 235 255 5 1,220 1,260 31 255 275 6 1,260 1,300 32 275 300 7 1,300 1,340 33 300 340 8 1,340 1,380 34 340 380 9 1,380 1,420 35 380 420 10 1,420 1,460 36 420 460 11 1,460 1,500 37 460 500 12 1,500 1,540 38 500 540 13 1,540 1,580 39 540 580 14 1,580 1,620 40 580 620 15 1,620 1,660 41 620 660 16 1,660 1,700 42 660 700 17 1,700 1,740 43 700 740 18 1,740 1,780 44 740 780 19 1,780 1,820 45 780 820 20 1,820 1,860 46 820 860 21 1,860 1,900 47 860 900 22 1,900 1,940 48 900 940 23 1,940 1,980 49 940 980 24 1,980 2,020 50 980 1,020 25 2,020 and over, 2.5% of the adjusted tax. 83 Stat. 658 TABLE 2.—HEAD OF HOUSEHOLD If the adjusted tax is: The tax is— If the adjusted tax is: The tax is— At least But less than At least But less than 0 $230 0 $1,020 $1,060 $26 $230 250 $1 1,060 1,100 27 250 270 2 1,100 1,140 28 270 290 3 1,140 1,180 29 290 310 4 1,180 1,220 30 310 330 5 1,220 1,260 31 330 350 6 1,260 1,300 32 350 370 7 1,300 1,340 33 370 390 8 1,340 1,380 34 390 410 9 1,380 1,420 35 410 430 10 1,420 1,460 36 430 460 11 1,460 1,500 37 460 500 12 1,500 1,540 38 500 540 13 1,540 1,580 39 540 580 14 1,580 1,620 40 580 620 15 1,620 1,660 41 620 660 16 1,660 1,700 42 660 700 17 1,700 1,740 43 700 740 18 1,740 1,780 44 740 780 19 1,780 1,820 45 780 820 20 1,820 1,860 46 820 860 21 1,860 1,900 47 860 900 22 1,900 1,940 48 900 940 23 1,940 1,980 49 940 980 24 1,980 2,020 50 980 1,020 25 2,020 and over, 2.5% of the adjusted tax. TABLE 3.—MARRIED PERSONS OR SURVIVING SPOUSE FILING JOINT RETURN If the adjusted tax is: The tax is— If the adjusted tax is: The tax is— At least But less than At least But less than 0 $300 0 $1,020 $1,060 $26 $300 320 $1 1,060 1,100 27 320 340 2 1,100 1,140 28 340 360 3 1,140 1,180 29 360 380 4 1,180 1,220 30 380 400 5 1,220 1,260 31 400 420 6 1,260 1,300 32 420 440 7 1,300 1,340 33 440 460 8 1,340 1,380 34 460 480 9 1,380 1,420 35 480 500 10 1,420 1,460 36 500 520 11 1,460 1,500 37 520 540 12 1,500 1,540 38 540 560 13 1,540 1,580 39 560 580 14 1,580 1,620 40 580 620 15 1,620 1,660 41 620 660 16 1,660 1,700 42 660 700 17 1,700 1,740 43 700 740 18 1,740 1,780 44 740 780 19 1,780 1,820 45 780 820 20 1,820 1,860 46 820 860 21 1,860 1,900 47 860 900 22 1,900 1,940 48 900 940 23 1,940 1,980 49 940 980 24 1,980 2,020 50 980 1,020 25 2,020 and over, 2.5% of the adjusted tax.” (2) by striking out the table in paragraph (1)(B) and inserting in lieu thereof the following table: Percent “Calendar year Estate and trusts Corporations 1968 7.5 10.0 1969 10.0 10.0 1970 2.5 2.5.” 83 Stat. 659 (3) by striking out “January 1, 1970” the first time it appears in paragraph (2)(A) and inserting in lieu thereof “July 1, 1970”, and (4) by striking out paragraph (2)(A)(ii) and inserting in lieu thereof the following: “(ii) a fraction, the numerator of which is the sum of the number of days in the taxable year occurring on and after the effective date of the surcharge and before January 1, 1970, plus one-half times the number of days in the taxable year occurring after December 31, 1969, and before July 1, 1970, and the denominator of which is the number of days in the entire taxable year.” (b) Receipt of Minimum Distributions.—Section 963(b) (relating to receipt of minimum distributions) is amended— (1) by striking out “surcharge period” in the heading of paragraph (1) and inserting in lieu thereof “surcharge period ending before January 1, 1970”; (2) by striking out “1964” in the heading of paragraph (2) and inserting in lieu thereof “1964 and taxable years beginning in 1969 and ending in 1970 to the extent subparagraph (B) applies”; and (3) by striking out the last two sentences and inserting in lieu thereof the following: “In the case of a taxable year beginning before the surcharge period and ending within the surcharge period, or beginning within the surcharge period and ending after the surcharge period, or beginning before January 1, 1970, and ending after December 31, 1969, the required minimum distribution shall be equal to the sum of— “(A) that portion of the minimum distribution which would be required if the provisions of paragraph (1) were applicable to the taxable year, which the number of days in such taxable year which are within the surcharge period and before January 1, 1970, bears to the total number of days in such taxable year, “(B) that portion of the minimum distribution which would be required if the provisions of paragraph (2) were applicable to such taxable year, which the number of days in such taxable year which are within the surcharge period and after December 31, 1969, bears to the total number of days in such taxable year, and “(C) that portion of the minimum distribution which would be required if the provisions of paragraph (3) were applicable to such taxable year, which the number of days in such taxable year which are not within the surcharge period bears to the total number of days in such taxable year. As used in this subsection, the term ‘surcharge period’ means the period beginning January 1, 1968, and ending June 30, 1970.” (c) Effective Dates.—The amendments made by subsections (a) and (b) shall apply to taxable years ending after December 31, 1969, and beginning before July 1, 1970.