Sec. 2. Modification of standards for awarding of costs and certain fees
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Subparagraph
(D)of section 7430(c)(4) of the Internal Revenue Code of 1986 is amended by striking and at the end of clause (i)(II), by striking the period at the end of clause
(ii)and inserting , and , and by adding at the end the following new clause: in the case of an eligible small business, the net worth limitation in clause
(ii)of such section shall not apply. . Paragraph
(4)of section 7430(c) of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph: For purposes of subparagraph (D)(iii), the term eligible small business means, with respect to any proceeding commenced in a taxable year— a corporation the stock of which is not publicly traded, a partnership, or a sole proprietorship, if the average annual gross receipts of such corporation, partnership, or sole proprietorship for the 3-taxable-year period preceding such taxable year does not exceed $50,000,000. For purposes of applying the test under the preceding sentence, rules similar to the rules of paragraphs
(2)and
(3)of section 448(c) shall apply. . The amendments made by this section shall apply to proceedings commenced after the date of the enactment of this Act.