A bill to amend the Internal Revenue Code of 1986 to repeal the 30-percent gross income limitation on regulated investment companies.

Amends the Internal Revenue Code to repeal the requirement that less than 30 percent of the gross income of a regulated investment company be derived from the sale or disposition of any of the following which were held for less than three months: (1) stocks or securities; (2) options, futures, or forward contracts (other than those on foreign currencies); or (3) certain foreign currencies.