“Section 707(a)(2) is amended by striking "Under regulations prescribed" and inserting "Except as provided".”
The section strikes the words Under regulations prescribed at the start of section 707(a)(2) of the Internal Revenue Code of 1986 and inserts Except as provided.
What the document actually says
“Section 707(a)(2) is amended by striking "Under regulations prescribed" and inserting "Except as provided".”
That sentence, in plain words
Three words are taken out of a tax rule. Three new ones are put in.
What this is about
The old words tied the rule to regulations. The new ones do not. So the rule stands on its own.
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.
Provide for reconciliation pursuant to title II of H. Con. Res. 14, Public Law 119-21, sec. 70602, 139 Stat. 284 (2025). https://www.govinfo.gov/content/pkg/PLAW-119publ21/html/PLAW-119publ21.htm
This page
“The rule no longer depends on regulations being written,” Provide for reconciliation pursuant to title II of H. Con. Res. 14, section 70602, Sec. 70602. Read the Mandate, https://readthemandate.org/pl-119-21/proposal/sec70602-words/ (retrieved October 10, 2026).
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not the document's words. So is the plain English version, which is why it sits beside the
quotation rather than replacing it.
