REPEAL OF 30-PERCENT GROSS INCOME REQUIREMENT.

SEC. 1255. REPEAL OF 30-PERCENT GROSS INCOME REQUIREMENT. (a) General Rule.—Subsection (c) of section 856 (relating to limitations) is amended— (1) by adding “and” at the end of paragraph (3), (2) by striking paragraphs (4) and (8), and111 STAT. 1034 (3) by redesignating paragraphs (5), (6), and (7) as paragraphs (4), (5), and (6), respectively. (b) Conforming Amendments.— (1) Subparagraph (G) of section 856(c)(5), as redesignated by subsection (a), is amended by striking “and such agreement shall be treated as a security for purposes of paragraph (4)(A)”. (2) Paragraph (5) of section 857(b) is amended by striking “section 856(c)(7)” and inserting “section 856(c)(6)”. (3) Subparagraph (C) of section 857(b)(6) is amended by striking “section 856(c)(6)(B)” and inserting “section 856(c)(5)(B)”.