Sec. 13002. Reduction in dividend received deductions to reflect lower corporate income tax rates
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Section 243(a)(1) is amended by striking 70 percent and inserting 50 percent . Section 243(c)(1) is amended— by striking 80 percent and inserting 65 percent , and by striking 70 percent and inserting 50 percent . The heading for section 243(c) is amended by striking and inserting Retention of 80-percent Dividend Received Deduction . Increased Percentage Section 245(c)(1)(B) is amended— by striking 70 percent and inserting 50 percent , and by striking 80 percent and inserting 65 percent . Section 246(b)(3) is amended— by striking 80 percent in subparagraph
(A)and inserting 65 percent , and by striking 70 percent in subparagraph
(B)and inserting 50 percent . Section 246A(a)(1) is amended— by striking 70 percent and inserting 50 percent , and by striking 80 percent and inserting 65 percent . Section 861(a)(2) is amended— by striking 100/70th and inserting 100/50th in subparagraph (B), and in the flush sentence at the end— by striking 100/80th and inserting 100/65th , and by striking 100/70th and inserting 100/50th . The amendments made by this section shall apply to taxable years beginning after December 31, 2017.