Sec. 8. Requirement to report to Congress prior to denial of foreign tax credit with respect to certain foreign countries
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/bill/119/s/136/is/section-8A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Subclause
(II)of section 901(j)(2)(B)(i) of the Internal Revenue Code of 1986 is amended by striking such country becomes and inserting the date on which the President reports to Congress that such country has been determined to be . Subject to paragraph (2), the amendment made by this section shall apply to any determination regarding whether a foreign country is described in subparagraph
(A)of section 901(j)(2) of the Internal Revenue Code of 1986 which is made after the date of the enactment of this Act. Nothing in this section, or the amendment made by this section, shall be construed to alter, amend, or otherwise affect the application of subsection
(j)of section 901 of such Code to any country which has been determined to be a country described in paragraph (2)(A) of such subsection on or before the date of the enactment of this Act.