required as so described. . (3) Conforming amendments (A) The heading for section 162(m) of the Internal Revenue Code of 1986 is amended by striking employee . (B) The heading for section 162(m)(4) is amended by striking employee . (b) Modification of definition of publicly held corporation Section 162(m)(2) of the Internal Revenue Code of 1986 is amended— (1) by inserting , with respect to any taxable year, after means , and (2) by striking subparagraph (B) and inserting the following: (B) that was required to file reports under section 15(d) of such Act ( 15 U.S.C. 78o(d) ) at any time during the 3-taxable year period ending with such taxable year. . (c) Regulatory authority (1) In general Section 162(m) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: (7) Regulations The Secretary may prescribe such guidance, rules, or regulations as are necessary to carry out the purposes of this subsection, including regulations— (A) with respect to reporting, and (B) to prevent avoidance of the purposes of this section by providing compensation through a pass-through or other entity. . (2) Conforming amendment Paragraph (6) of section 162(m) of such Code is amended by striking subparagraph (H). (d) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2022.