of this section with respect to institutionally related foundations and pooled investments. . (b) Clerical amendments (1) The table of sections for subchapter H of chapter 42 of such Code is amended by adding at the end the following new item: Sec. 4969. Excise tax on certain investments of private colleges and universities. . (2) The heading of subchapter H of chapter 42 of such Code (and the item relating to such subchapter in the table of subchapters for such chapter) are each amended by striking Tax Based on Investment Income and inserting Taxes Based on Investments . (c) Effective dates (1) In general Except as otherwise provided in this subsection, the amendments made by this section shall apply to taxable years ending after the earlier of— (A) the end of the first calendar year beginning after the date of the enactment of this Act, or (B) the end of the 1-year period beginning on the date on which the Secretary of the Treasury (or the Secretary’s delegate) establishes the listed persons list under section 4969(c)(2) of the Internal Revenue Code of 1986 (as added by this section). (2) Certain prior acquisitions Section 4969(a) of the Internal Revenue Code of 1986 (as added by this section) shall not apply to investments acquired before the end of the calendar year referred to in paragraph (1)(A). (3) Certain prior income and gains Section 4969(b) of the Internal Revenue Code of 1986 (as added by this section) shall not apply to income received, or gains or losses recognized, before the end of the 1-year period referred to in paragraph (1)(B).