COMMITTEE ON WAYS AND MEANS

AL ULLMAN, Oregon, Chairman

DAN ROSTENKOWSKI, Illinois
CHARLES A. VANIK, Ohio
JAMES C. CORMAN, California
SAM M. GIBBONS, Florida

J. J. PICKLE, Texas

CHARLES B. RANGEL, New York

WILLIAM R. COTTER, Connecticut

FORTNEY H. (PETE) STARK, California

JAMES R. JONES, Oklahoma

ANDY JACOBS, JR., Indiana
JOSEPH L. FISHER, Virginia
HAROLD FORD, Tennessee

KEN HOLLAND, South Carolina
WILLIAM M. BRODHEAD, Michigan
ED JENKINS, Georgia

RICHARD A. GEPHARDT, Missouri
RAYMOND F. LEDERER, Pennsylvania
THOMAS J. DOWNEY, New York
CECIL (CEC) HEFTEL, Hawaii
WYCHE FOWLER, JR., Georgia
FRANK J. GUARINI, New Jersey
JAMES M. SHANNON, Massachusetts
MARTY RUSSO, Illinois

BARBER B. CONABLE, JR., New York
JOHN J. DUNCAN, Tennessee

BILL ARCHER, Texas

GUY VANDER JAGT, Michigan

PHILIP M. CRANE, Illinois

BILL FRENZEL, Minnesota

JAMES G. MARTIN, North Carolina

L. A. (SKIP) BAFALIS, Florida

RICHARD T. SCHULZE, Pennsylvania
WILLIS D. GRADISON, JR., Ohio
JOHN H. ROUSSELOT, California
W. HENSON MOORE, Louisiana

JOHN M. MARTIN, JR., Chief Counsel
J. P. BAKER, Assistant Chief Counsel
JOHN K. MEAGHER, Minority Counsel

SUBCOMMITTEE ON SELECT REVENUE MEASURES
DAN ROSTENKOWSKI, Illinois, Chairman

RAYMOND F. LEDERER, Pennsylvania
KEN HOLLAND, South Carolina
FORTNEY H. (PETE) STARK, California
WYCHE FOWLER, JR., Georgia
FRANK J. GUARINI, New Jersey

JOHN J. DUNCAN, Tennessee
RICHARD T. SCHULZE, Pennsylvania
GUY VANDER JAGT, Michigan

(II)

CONTENTS

Page

8123

Introduction

I. Section-by-section summary of the bill.

II. Description of the bill.

A. Waiver of time limits in foreign residence or pres-

ence requirement for Americans working abroad

(sec. 1)---.

B. Special rule for certain distributions from money

purchase pension plans (sec. 2) -.

C. Definition of youth participating in a qualified co-

operative education program for purposes of the

targeted jobs credit (sec. 3) ----.

D. Special rule relating to debt-financed income of

exempt organizations (sec. 4)

III. Revenue effect of the bill_---

(III)