[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4357 Introduced in House (IH)]

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118th CONGRESS
  1st Session
                                H. R. 4357

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


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                    IN THE HOUSE OF REPRESENTATIVES

                             June 23, 2023

Ms. Tenney (for herself and Ms. Sewell) introduced the following bill; 
         which was referred to the Committee on Ways and Means

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                                 A BILL


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

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Permanent CFC Look-Through Act of 
2023''.

SEC. 2. LOOK-THROUGH RULE FOR RELATED CONTROLLED FOREIGN CORPORATIONS 
              MADE PERMANENT.

    (a) In General.--Section 954(c)(6) of the Internal Revenue Code of 
1986 is amended by striking subparagraph (C).
    (b) Effective Date.--The amendment made by this section shall apply 
to taxable years of foreign corporations beginning after December 31, 
2023, and to taxable years of United States shareholders with or within 
which such taxable years of foreign corporations end.
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