MINIMUM TAX TREATMENT OF CERTAIN PROPERTY AND CASUALTY INSURANCE COMPANIES.

SEC. 1212. MINIMUM TAX TREATMENT OF CERTAIN PROPERTY AND CASUALTY INSURANCE COMPANIES. (a) In General.—Clause (i) of section 56(g)(4)(B) (relating to inclusion of items included for purposes of computing earnings and profits) is amended by adding at the end the following new sentence: “In the case of any insurance company taxable under section 831(b), this clause shall not apply to any amount not described in section 834(b).”. (b) Effective Date.—The amendment made by subsection (a) shall apply to taxable years beginning after December 31, 1997.