EFFECTIVE DATES.

SEC. 305. EFFECTIVE DATES. (a) Section 302.— The amendments made by section 302 shall apply to taxable years ending after December 31, 1974. (b) Section 303.— (1) In general.— The amendments made by section 303 shall apply to taxable years ending after December 31, 1974. The amendments made by subsections (b) and (c) of such section shall cease to apply for taxable years ending after December 31, 1975. (2) Changes treated as changes in tax rate.— Section 21 (relating to change in rates during taxable year) is amended by adding at the end thereof the following new subsection: “(f) Increase in Surtax Exemption.— In applying subsection (a) to a taxable year of a taxpayer which is not a calendar year, the change made by section 303(b) of the Tax Reduction Act of 1975 in section 11(d) (relating to corporate surtax exemption) shall be treated as a change in a rate of tax.” (c) Section 304.— The amendments made by section 304 apply to taxable years beginning after December 31, 1974.