To amend the Internal Revenue Code of 1986 to extend the look-through treatment of payments between related controlled foreign corporations.

Amends the Internal Revenue Code to extend through 2013 the tax rule exempting dividends, interest, rents, and royalties received or accrued from certain controlled foreign corporations by a related entity from treatment as foreign holding company income (thus permitting tax deferral of such income).

[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3735 Introduced in House (IH)]







110th CONGRESS
  1st Session
                                H. R. 3735

 To amend the Internal Revenue Code of 1986 to extend the look-through 
 treatment of payments between related controlled foreign corporations.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            October 2, 2007

Mr. Tanner (for himself, Mrs. Jones of Ohio, Mr. Davis of Alabama, and 
  Mr. Larson of Connecticut) introduced the following bill; which was 
              referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to extend the look-through 
 treatment of payments between related controlled foreign corporations.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. LOOK-THROUGH TREATMENT OF PAYMENTS BETWEEN RELATED 
              CONTROLLED FOREIGN CORPORATIONS.

    Subparagraph (B) of section 954(c)(6) of the Internal Revenue Code 
of 1986 (relating to look-thru rule for related controlled foreign 
corporations) is amended by striking ``January 1, 2009'' and inserting 
``January 1, 2014''.
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