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

[AI summary unavailable — showing source text] 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).…