SECTION  1.  Section 2B of chapter 63 of the General Laws as appearing in the Official Edition, is hereby amended by striking out subsection (b).

SECTION  2.  The first paragraph of said section 39 of said chapter 63, as so appearing, is hereby amended by striking out the first paragraph and adding in place the following paragraph:

Except as otherwise provided in this section, every business corporation, organized under the laws of the commonwealth, or exercising its charter or other means of legal authority, or qualified to do business or actually doing business in the commonwealth, or owning or using any part or all of its capital, plant or any other property in the commonwealth, shall pay, on account of each taxable year, the excise provided in subsection (a), except that an insurance mutual holding company established under chapter 175 or under the equivalent law of another state shall pay, on account of each taxable year, only the excise provided in clause (2) of subsection (a).

SECTION  3.  Said section 39 of said chapter 63, as so appearing is further amended by striking out subsection (b).