REPEAL OF STOCK AND SECURITIES SAFE HARBOR REQUIREMENT THAT PRINCIPAL OFFICE BE OUTSIDE THE UNITED STATES.

SEC. 1162. REPEAL OF STOCK AND SECURITIES SAFE HARBOR REQUIREMENT THAT PRINCIPAL OFFICE BE OUTSIDE THE UNITED STATES. (a) In General.—The last sentence of clause (ii) of section 864(b)(2)(A) (relating to stock or securities) is amended by striking or in the case of a corporation” and all that follows and inserting a period. (b) Effective Date.—The amendment made by subsection (a) shall apply to taxable years beginning after December 31, 1997.