MODIFICATION OF STOCK ATTRIBUTION RULES FOR DETERMINING STATUS AS A CONTROLLED FOREIGN CORPORATION.

SEC. 14213. MODIFICATION OF STOCK ATTRIBUTION RULES FOR DETERMINING STATUS AS A CONTROLLED FOREIGN CORPORATION.(a) In General.—Section 958(b) is amended—(1) by striking paragraph (4), and(2) by striking “Paragraphs (1) and (4)” in the last sentence and inserting “Paragraph (1)”.(b) Effective Date.—The amendments made by this section shall apply to—131 STAT. 2218 (1) the last taxable year of foreign corporations beginning before January 1, 2018, and each subsequent taxable year of such foreign corporations, and(2) taxable years of United States shareholders in which or with which such taxable years of foreign corporations end.