124 STAT. 3537 PUBLIC LAW 111–325—DEC. 22, 2010 Public Law 111–325 111th Congress An Act To amend the Internal Revenue Code of 1986 to modify certain rules applicable to regulated investment companies, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE, ETC. (a) SHORT TITLE.—This Act may be cited as the ‘‘Regulated Investment Company Modernization Act of 2010’’. (b) REFERENCE.—Except as otherwise expressly provided, when- ever in this Act an amendment or repeal is expressed in terms of an amendment to, or repeal of, a section or other provision, the reference shall be considered to be made to a section or other provision of the Internal Revenue Code of 1986. (c) TABLE OF CONTENTS.—The table of contents for this Act is as follows: Sec. 1. Short title, etc. TITLE I—CAPITAL LOSS CARRYOVERS OF REGULATED INVESTMENT COMPANIES Sec. 101. Capital loss carryovers of regulated investment companies. TITLE II—MODIFICATION OF GROSS INCOME AND ASSET TESTS OF REGULATED INVESTMENT COMPANIES Sec. 201. Savings provisions for failures of regulated investment companies to sat- isfy gross income and asset tests. TITLE III—MODIFICATION OF RULES RELATED TO DIVIDENDS AND OTHER DISTRIBUTIONS Sec. 301. Modification of dividend designation requirements and allocation rules for regulated investment companies. Sec. 302. Earnings and profits of regulated investment companies. Sec. 303. Pass-thru of exempt-interest dividends and foreign tax credits in fund of funds structure. Sec. 304. Modification of rules for spillover dividends of regulated investment com- panies. Sec. 305. Return of capital distributions of regulated investment companies. Sec. 306. Distributions in redemption of stock of a regulated investment company. Sec. 307. Repeal of preferential dividend rule for publicly offered regulated invest- ment companies. Sec. 308. Elective deferral of certain late-year losses of regulated investment com- panies. Sec. 309. Exception to holding period requirement for certain regularly declared ex- empt-interest dividends. TITLE IV—MODIFICATIONS RELATED TO EXCISE TAX APPLICABLE TO REGULATED INVESTMENT COMPANIES Sec. 401. Excise tax exemption for certain regulated investment companies owned by tax exempt entities. Regulated Investment Company Modernization Act of 2010. 26 USC 1 note. Dec. 22, 2010 [H.R. 4337]
