account for lobbying expenditures pursuant to section
162(e) of the Internal Revenue Code of 1986 may—
(1) make a good faith estimate (by category of
dollar value) of applicable amounts that would not
be deductible pursuant to such section for the appro-
priate semiannual period to meet the requirements
of sections 4(a)(3), 5(a)(2), and 5(b)(4); and
(2) in lieu of using the definition of ‘‘lobbying
activities’’ in section 3(9) of this Act, consider as
lobbying activities only those activities, the costs of
which are not deductible pursuant to section 162(e)
of the Internal Revenue Code of 1986.
(c) DISCLOSURE OF ESTIMATE.—Any registrant that
elects to make estimates required by this Act under the
procedures authorized by subsection (a) or (b) for report-
ing or threshold purposes shall—
(1) inform the Chairman that the registrant
has elected to make its estimates under such proce-
dures; and
(2) make all such estimates, in a given calendar
year, under such procedures.
(d) STUDY.—Not later than March 31, 1997, the
Comptroller General of the United States shall review re-
porting by registrants under subsections (a) and (b) and
report to the Congress—
(1) the differences between the definition of
‘‘lobbying activities’’ in section 3(9) and the defini-
tions of ‘‘lobbying expenditures’’, ‘‘influencing legis-
lation’’, and related terms in sections 162(e) and
4911 of the Internal Revenue Code of 1986, as each
are implemented by regulations;
(2) the impact that any such differences may
have on filing and reporting under this Act pursuant
to this subsection; and
(3) any changes to this Act or to the appro-
priate sections of the Internal Revenue Code of 1986
that the Comptroller General may recommend to
harmonize the definitions.
SEC. 17. EFFECTIVE DATES AND INTERIM RULES.
(a) IN GENERAL.—Except as otherwise provided in
this section, this Act and the amendments made by this
Act shall take effect January 1, 1996.
(b) REPEALS AND AMENDMENTS.—The repeals and
amendments made under sections 12, 13, 14, and 15 shall
take effect as provided in subsection (a), except that such
repeals and amendments—
(1) shall not affect any proceeding or suit com-
menced before the effective date under subsection
(a), and in all such proceedings or suits, proceedings
shall be had, appeals taken, and judgments rendered
in the same manner and with the same effect as if
this Act had not been enacted; and
(2) shall not affect the requirements of Federal
agencies to compile, publish, and retain information
filed or received before the effective date of such re-
peals and amendments.
(b) REGULATIONS.—Proposed regulations required to
implement this Act shall be published for public comment
no later than 270 days after the date of the enactment
of this Act. No later than 1 year after the date of the
enactment of this Act, final regulations required to imple-
ment this Act shall be published.
(c) PHASE-IN PERIOD.—No penalty shall be assessed
by the Attorney General under section 8(f) for a violation
of this Act which occurs during the first semiannual re-
porting period under section 5 after the effective date pre-
scribed by subsection (a).
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