To amend the Internal Revenue Code of 1986 to make the look-thru rule for related controlled foreign corporations permanent.

[AI summary unavailable — showing source text] This bill amends the Internal Revenue Code to make permanent 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).…