A bill to amend section 584 of the Internal Revenue Code of 1954 with respect to the treatment of affiliated banks for purposes of the common trust fund provisions of such Code.

Provides that, for purposes of the common trust fund provisions of the Internal Revenue Code, two or more banks which are members of the same affiliated group shall be treated as one bank for the period of affiliation. (Amends 26 U.S.C. 584(a))