Section 24452.1.

Latest version.

(a) Section 302 of the Internal Revenue Code, relating to distributions in redemption of stock, as amended by Section 306 of the Regulated Investment Company Modernization Act of 2010 (Public Law 111-325), shall apply, except as otherwise provided.

(b) Section 316 of the Internal Revenue Code, relating to dividend defined, as amended by Section 305 of the Regulated Investment Company Modernization Act of 2010 (Public Law 111-325), shall apply, except as otherwise provided.

(c) (1) Subdivision (a) shall apply to distributions on or after December 23, 2010.

(2) Subdivision (b) shall apply to distributions made in taxable years beginning on or after December 23, 2010.

(Added by Stats. 2011, Ch. 490, Sec. 7. Effective October 6, 2011.)

                    
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