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131 STAT. 2223 PUBLIC LAW 115–97—DEC. 22, 2017 (12) Section 901(k)(2) is amended by striking ‘‘, 902,’’. (13) Section 901(k)(6) is amended by striking ‘‘902 or’’. (14) Section 901(m)(1)(B) is amended to read as follows: ‘‘(B) in the case of a foreign income tax paid by a foreign corporation, shall not be taken into account for purposes of section 960.’’. (15) Section 904(d)(2)(E) is amended— (A) by amending clause (i) to read as follows: ‘‘(i) NONCONTROLLED 10-PERCENT OWNED FOREIGN CORPORATION.—The term ‘noncontrolled 10-percent owned foreign corporation’ means any foreign corpora- tion which is— ‘‘(I) a specified 10-percent owned foreign cor- poration (as defined in section 245A(b)), or ‘‘(II) a passive foreign investment company (as defined in section 1297(a)) with respect to which the taxpayer meets the stock ownership require- ments of section 902(a) (or, for purposes of applying paragraphs (3) and (4), the requirements of section 902(b)). A controlled foreign corporation shall not be treated as a noncontrolled 10-percent owned foreign corpora- tion with respect to any distribution out of its earnings and profits for periods during which it was a controlled foreign corporation. Any reference to section 902 in this clause shall be treated as a reference to such section as in effect before its repeal.’’, and (B) by striking ‘‘non-controlled section 902 corporation’’ in clause (ii) and inserting ‘‘noncontrolled 10-percent owned foreign corporation’’. (16) Section 904(d)(4) is amended— (A) by striking ‘‘noncontrolled section 902 corporation’’ each place it appears and inserting ‘‘noncontrolled 10-per- cent owned foreign corporation’’, (B) by striking ‘‘NONCONTROLLED SECTION 902 CORPORA- TIONS’’ in the heading thereof and inserting ‘‘NONCON- TROLLED 10-PERCENT OWNED FOREIGN CORPORATIONS’’. (17) Section 904(d)(6)(A) is amended by striking ‘‘902, 907,’’ and inserting ‘‘907’’. (18) Section 904(h)(10)(A) is amended by striking ‘‘sections 902, 907, and 960’’ and inserting ‘‘sections 907 and 960’’. (19) Section 904(k) is amended to read as follows: ‘‘(k) CROSS REFERENCES.—For increase of limitation under sub- section (a) for taxes paid with respect to amounts received which were included in the gross income of the taxpayer for a prior taxable year as a United States shareholder with respect to a controlled foreign corporation, see section 960(c).’’. (20) Section 905(c)(1) is amended by striking the last sen- tence. (21) Section 905(c)(2)(B)(i) is amended to read as follows: ‘‘(i) shall be taken into account for the taxable year to which such taxes relate, and’’. (22) Section 906(a) is amended by striking ‘‘(or deemed, under section 902, paid or accrued during the taxable year)’’. (23) Section 906(b) is amended by striking paragraphs (4) and (5). (24) Section 907(b)(2)(B) is amended by striking ‘‘902 or’’. 26 USC 901. VerDate Sep 11 2014 10:09 Oct 18, 2018 Jkt 079139 PO 00097 Frm 00171 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL097.115 PUBL097 dkrause on DSKBC28HB2PROD with PUBLAWS