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    <title>Amendment of section 115AD.</title>
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    <description>The amendment makes the specified fund tax provisions applicable to income attributable to an investment division of an offshore banking unit when that division is a Category I portfolio investor under the foreign portfolio investor regulations, with such income to be calculated as may be prescribed, and inserts a cross reference definition for &quot;investment division of offshore banking unit.&quot;</description>
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      <description>The amendment makes the specified fund tax provisions applicable to income attributable to an investment division of an offshore banking unit when that division is a Category I portfolio investor under the foreign portfolio investor regulations, with such income to be calculated as may be prescribed, and inserts a cross reference definition for &quot;investment division of offshore banking unit.&quot;</description>
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