Definition: In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
Input: SECTION 1. EXEMPTION FOR CERTAIN DIVIDENDS PAID BY REGULATED INVESTMENT
COMPANIES TO NONRESIDENT ALIENS EXPANDED AND MADE
PERMANENT.

(a) Expansion of Exemption for Interest-Related Dividends.--
(1) In general.--Subparagraph (E) of section 871(k)(1) of
the Internal Revenue Code of 1986 is amended by striking
clauses (iii) and (iv) and inserting the following new clauses:
''(iii) Any amount referred to in
subsection (i)(2)(A) (without regard to the
trade or business of the regulated investment
company) or in subsection (i)(2)(B).
''(iv) Any interest which is exempt from
tax under section 103 or any other provision of
law without regard to the identity of the
holder.
''(v) Any other amount includible in gross
income that is determined by reference to an
interest rate and that would not be subject to
withholding under section 1441 if received by a
nonresident alien individual.
''(vi) Any amount includible in gross
income from sources without the United States.
''(vii) Any qualified income-related
dividend includible in gross income with
respect to stock of another regulated
investment company.''.
(2) Modification of exceptions.--Clause (i) of section
871(k)(1)(B) of such Code is amended by striking ''interest
(other than interest described in subparagraph (E)(i) or
(iii))'' and inserting ''interest described in subparagraph
(E)(ii) (and not described in subparagraph (E) (i), (iii), or
(iv))''.
(3) Conforming amendments.--
(A) Paragraph (1) of section 871(k) of such Code is
amended--
(i) by striking ''interest-related
dividend'' each place it appears in the text
and inserting ''qualified income-related
dividend'',
(ii) by striking ''qualified net interest
income'' each place it appears in the text and
inserting ''qualified net income'',
(iii) by striking ''qualified interest
income'' each place it appears in the text and
inserting ''qualified income'',
(iv) by striking ''Interest-related
dividends'' in the heading thereof and
inserting ''Qualified income-related
dividends'',
(v) by striking ''Interest related
dividend'' in the heading of subparagraph (C)
and inserting ''Qualified income-related
dividend'',
(vi) by striking ''Qualified net interest
income'' in the heading of subparagraph (D) and
inserting ''Qualified net income'', and
(vii) by striking ''Qualified interest
income'' in the heading of subparagraph (E) and
inserting ''Qualified income''.
(B) Paragraph (1) of section 881(e) of such Code is
amended--
(i) by striking ''interest-related
dividend'' each place it appears in
subparagraphs (A) and (B) and inserting
''qualified income-related dividend'',
(ii) by striking ''interest received'' in
subparagraph (B)(ii) and inserting ''interest
described in clause (ii) of section
871(k)(1)(E) (and not described in clause (i),
(iii), or (iv) of such section) received'',
(iii) by striking ''interest-related
dividend received'' in subparagraph (C) and
inserting ''qualified income-related dividend
received from a regulated investment company'',
(iv) by striking ''clause (i) or (iii)'' in
subparagraph (C) and inserting ''clause (i),
(iii), or (iv)'', and
(v) by striking ''Interest-related
dividends'' in the heading thereof and
inserting ''Qualified income-related
dividends''.
(b) Effective Date.--The amendments made by this section shall
apply to dividends with respect to taxable years of regulated
investment companies beginning after December 31, 2015.
Output:
This bill amends the Internal Revenue Code, with respect to the tax on nonresident alien individuals, to expand the categories of interest-related dividends for which a tax exemption is allowed.