TREATMENT OF CERTAIN BANK HOLDING COMPANIES.

SEC. 6280. TREATMENT OF CERTAIN BANK HOLDING COMPANIES. (a) General Rule.—For purposes of subtitle A of the 1986 Code, the term “personal holding company income” shall not include any dividend received by a qualified bank holding company from a 25-percent owned bank during any taxable year ending in 1989 or 1990. (b) $3,000,000 Limitation.—The aggregate amount excluded from the personal holding company income of any qualified bank holding company under subsection (a) for the taxable year shall not exceed $3,000,000. (c) Qualified Bank Holding Company.—For purposes of this section, the term “qualified bank holding company” means any bank holding company (as defined in section 2(a) of the Bank Holding Company Act of 1956) if 80 percent or more (by value) of the 102 STAT. 3755assets of such company at all times during the taxable year consist of stock in 1 or more 25-percent owned banks. (d) 25-Percent Owned Bank.—For purposes of this section, the term “25-percent owned bank” means any bank (as defined in section 581 of the 1986 Code) if at least 25 percent of the stock of such bank (by vote and value) is owned by the bank holding company.