110 STAT. 1210 PUBLIC LAW 104-130—APR. 9, 1996 members of the association, or the beneficiaries of the trust or estate shall not also be treated as beneficiaries of such provision. "(E) For purposes of this paragraph, the term 'revenuelosing provision' means any provision which results in a reduction in Federal tax revenues for any one of the two following periods— "(i) the first fiscal year for which the provision is effective; or "(ii) the period of the 5 fiscal years beginning with the first fiscal year for which the provision is effective. "(F) The terms used in this paragraph shall have the same meaning as those terms have generally in the Internal Revenue Code of 1986, unless otherwise expressly provided. "(10) OMB. —The term 'OMB' means the Director of the Office of Management and Budget. "ID ENTIFICATION OF LIMITED TAX BENEFITS 2 USC 69if. "SEC. 1027. (a) STATEMENT BY JOINT TAX COMMITTEE. —The Joint Committee on Taxation shall review any revenue or reconciliation bill or joint resolution which includes any amendment to the Internal Revenue Code of 1986 that is being prepared for filing by a committee of conference of the two Houses, and shall identify whether such bill or joint resolution contains any limited tax benefits. The Joint Committee on Taxation shall provide to the committee of conference a statement identifying any such limited tax benefits or declaring that the bill or joint resolution does not contain any limited tax benefits. Any such statement shall be made available to any Member of Congress by the Joint Committee on Taxation immediately upon request. "(b) STATEMENT INCLUDED IN LEGISLATION. — (1) Notwithstanding any other rule of the House of Representatives or any rule or precedent of the Senate, any revenue or reconciliation bill or joint resolution which includes any amendment to the Internal Revenue Code of 1986 reported by a committee of conference of the two Houses may include, as a separate section of such bill or joint resolution, the information contained in the statement of the Joint Committee on Taxation, but only in the manner set forth in paragraph (2). Applicability. "(2) The separate section permitted under paragraph (1) shall read as follows: 'Section 1021(a)(3) of the Congressional Budget and Impoundment Control Act of 1974 shall apply to . ', with the blank spaces being filled in with— "(A) in any case in which the Joint Committee on Taxation identifies limited tax benefits in the statement required under subsection (a), the word 'only' in the first blank space and a list of all of the specific provisions of the bill or joint resolution identified by the Joint Committee on Taxation in such statement in the second blank space; or "(B) in any case in which the Joint Committee on Taxation declares that there are no limited tax benefits in the statement required under subsection (a), the word 'not' in the first blank space and the phrase 'any provision of this Act' in the second blank space. "(c) PRESIDENT'S AUTHORITY.— If any revenue or reconciliation bill or joint resolution is signed into law pursuant to Article I, section 7, of the Constitution of the United States—
�
