Section 1246, added Pub. L. 87–834, § 14(a)(1), Oct. 16, 1962, 76 Stat. 1036; amended Pub. L. 94–455, title XIV, § 1402(b)(1)(W), (2), title XIX, §§ 1901(a)(141), (b)(3)(I), (32)(B)(ii), 1906 (b)(13)(A), title XX, § 2005(a)(5), Oct. 4, 1976, 90 Stat. 1732, 1787, 1793, 1800, 1834, 1877; Pub. L. 96–223, title IV, § 401(a), Apr. 2, 1980, 94 Stat. 299; Pub. L. 97–34, title VIII, § 832(a), Aug. 13, 1981, 95 Stat. 355; Pub. L. 98–369, div. A, title I, § 134(a), title X, § 1001(b)(20), (e), July 18, 1984, 98 Stat. 668, 1012; Pub. L. 99–514, title XII, § 1235(b), Oct. 22, 1986, 100 Stat. 2574; Pub. L. 100–647, title I, §§ 1012(p)(21), 1018 (o)(2), Nov. 10, 1988, 102 Stat. 3519, 3585; Pub. L. 107–16, title V, § 542(e)(5)(A), June 7, 2001, 115 Stat. 85, related to treatment of gain on foreign investment company stock.

Section 1247, added Pub. L. 87–834, § 14(a)(1), Oct. 16, 1962, 76 Stat. 1037; amended Pub. L. 94–455, title XIV, § 1402(b)(1)(X), (2), title XIX, §§ 1901(b)(33)(P), (R), 1906 (b)(13)(A), Oct. 4, 1976, 90 Stat. 1732, 1802, 1834; Pub. L. 98–369, div. A, title X, § 1001(b)(21), (e), July 18, 1984, 98 Stat. 1012, related to election by foreign investment companies to distribute income currently.