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 2014 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 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2098 Introduced in House (IH)]

111th CONGRESS
  1st Session
                                H. R. 2098

 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

                             April 23, 2009

 Mr. Tanner (for himself, Mr. Larson of Connecticut, and Mr. Boustany) 
 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. EXTENSION OF LOOK-THROUGH TREATMENT OF PAYMENTS BETWEEN 
              RELATED CONTROLLED FOREIGN CORPORATIONS.

    Subparagraph (C) of section 954(c)(6) of the Internal Revenue Code 
of 1986 is amended by striking ``January 1, 2010'' and inserting 
``January 1, 2015''.
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