JOINT COMMITTEE REFUND CASES.

SEC. 1210. JOINT COMMITTEE REFUND CASES. (a) In General.— Section 6405(a) (relating to reports of refunds and credits) is amended to read as follows: “(a) By Treasury to Joint Committee.— No refund or credit of any income, war profits, excess profits, estate, or gift, tax, or any tax imposed with respect to private foundations and pension plans under chapters 42 and 43, in excess of $200,000 shall be made until after the expiration of 30 days from the date upon which a report, giving the name of the person to whom the refund or credit is to be made, the amount of such refund or credit, and a summary of the facts and the decision of the Secretary, is submitted to the Joint Committee on Taxation.” (b) Tentative Refunds.— Section 6405(e) is amended by striking out “$100,000” and inserting in lieu thereof “$200,000”. (c) Audit.— Section 8023(a) (relating to powers to obtain information from the Internal Revenue Service) is amended by adding at the end thereof the following new sentence: “In the investigation by the Joint Committee on Taxation of the administration of the internal revenue taxes by the Internal Revenue Service, the Chief of Staff of the Joint Committee on Taxation is authorized to secure directly from the Internal Revenue Service such tax returns, or copies of tax returns, and other relevant information, as the Chief of Staff deems necessary for such investigation, and the Internal Revenue Service is authorized and directed to furnish such tax returns and information to the Chief of Staff together with a brief report, with respect to each return, as to any action taken or proposed to be taken by the Service as a result of any audit of the return.” (d) Effective Dates.— (1) The amendments made by subsections (a) and (b) shall take effect on the date of the enactment of this Act, except that such amendments shall not apply with respect to any refund or credit with respect to which a report has been made before the date of the enactment of this Act under subsection (a) or (c) of section 6405 of the Internal Revenue Code of 1954. (2) The amendment made by subsection (c) shall take effect on January 1, 1977.