California Revenue and Taxation Code

§ 17088

RTC § 17088 Effective Sep 30, 2015Div. 2 · Part 10 · Ch. 3 · Art. 2

Statute text

(a)Subchapter M of Chapter 1 of Subtitle A of the Internal Revenue Code, relating to regulated investment companies and real estate investment trusts, shall apply, except as otherwise provided.

(b)Section 17145 shall apply in lieu of Section 852(b)(5) of the Internal Revenue Code, relating to exempt-interest dividends.

(c)(1) Section 852(b)(3)(D) of the Internal Revenue Code, relating to treatment by shareholders of undistributed capital gains, shall not apply.

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Legislative history

Amended by Stats. 2015, Ch. 359, Sec. 5. (AB 154) Effective September 30, 2015. Applicable to taxable years beginning on or after January 1, 2015, as provided in Sec. 41 of Stats. 2015, Ch. 359.