The one month deferral election is struck
What the document says“Section 898(c) is amended by striking paragraph (2) and redesignating paragraph (3) as paragraph (2).”
The section strikes paragraph (2) of section 898(c) of the Internal Revenue Code of 1986 and renumbers paragraph (3) as paragraph (2). That provision is not indexed here, so what the struck paragraph said cannot be checked against anything on this site.
What the document actually says“Section 898(c) is amended by striking paragraph (2) and redesignating paragraph (3) as paragraph (2).”
One paragraph is taken out of a tax rule. The next one is renumbered to fill the gap.
The heading calls it a one month deferral election. What it said in full is not recorded here. The tax code is not indexed on this site.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.