84 STAT. ]
PUBLIC LAW 91.569-DEC. 23, 1970
1499
trust fund, the term 'bank' has the same meaning as in the Investment Company Act of 1940." ft,%^n-J<^^' (b) Section 3(a) of the Securities Exchange Act of 1934 (15 U.S.C. '^ ^ " 78c) (relating to exempted securities) is amended by inserting after ^'"*' PP- ^^•' "any municipal corporate instrumentality of one or more States;" in ^'^^^' paragraph (12) the following: "or any security which is an industrial development bond (as defined in section 103(c)(2) of the Internal Revenue Code of 1954) the interest on which is excludable from gross 1349^'^** ^^^' income under section 103(a)(1) of such Code if, by reason of the appli- 26 USC 103. cation of paragraph (4) or (6) of section 103(c) of such Code (determined as if paragraphs (4)(A), (5), and (7) were not included in such section 103(c)), paragraph (1) of such section 103(c) does not apply to such security;". (c) Section 304(a) of the Trust Indenture Act of 1939 (15 U.S.C 77ddd) (relating to exempted securities) is amended by reclassifying S3 Stat. 1153. the present text of paragraph (4) thereof as paragraph (4)(A), and by adding a new subparagraph (B) at the end of such paragraph (4), to read as follows: " (B) any security exempted from the provisions of the Securities Act of 1933, as amended, by paragraph (2) of subsection 3(a) thereof, Ante, p. 1498. as amended by section 401 of the Employment Security Amendments o f 1970."
(d) The amendments made by this section shall apply with respect to securities sold after January 1, 1970. Approved December 22, 1970.
^ " ' O ' P- 7 1 8. Effective date
Public Law 91-568 AN ACT December 22, 1970 To amend the peanut m a r k e t i n g quota provisions to make permanent certain [H. R. 17582] provisions thereunder.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled. That section 358a Peanut acreage of the Agricultural Adjustment Act of 1938, as amended, is further ^ 8T'stTt?658; amended as follows: 33 Stat. 213. (1) Subsection (a) thereof is amended by deleting", 1969, and 1970" 7 USC 1358a. and inserting in lieu thereof "and succeeding". Approved December 22, 1970.
Public Law 91-569 AN ACT December 23, 1970 To amend the I n t e r s t a t e Commerce Act and the Federal Aviation Act of 1958 [H.R. 10634] in order to exempt certain compensation of employees from withholding for income tax purposes under the laws of States or subdivisions thereof other than the State or subdivision of residence or the State or subdivision wherein more than 50 per centum of compensation is earned, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress aHsembled^ That part I of the interstate transInterstate Commerce Act is amended by redesignating section 26 ees.^ °" ^'"^ °^' as section 27 and by inserting before such section a new section as state income tax fnllr>w«iwinj-wD.
withholding, cer.. tain wage exemptions. 54 Stat. 919. 49 USC 27.
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