A bill to amend the Internal Revenue Code of 1954 to increase the amount of the stock which certain public utilities without being subject to the excise tax on excess business holdings.

Increases the percentage of stock (from 50 to 51 percent) which specified private foundations may hold in public utilities without being subject to the excise tax on excess business holdings, provided that 50 percent of such stock was held by the foundation in the public utility on May 26, 1969.