DENIAL OF DEFERRAL OF INTERNATIONAL BOYCOTT amounts.

SEC. 1062. DENIAL OF DEFERRAL OF INTERNATIONAL BOYCOTT amounts. (a) Dental of Deferral.— Section 952(a) (relating to general definition of subpart F income) is amended— (1) by striking out “and.” at the end of paragraph (1), (2) by striking out the period at the end of paragraph (2) and inserting in lieu thereof a comma, and the word “and”, and (3) by adding at the end thereof the following new paragraph: “(3) an amount equal Io the product of— “(A) the income of such corporation other than income which— “(i) is attributable to earnings and profits of the foreign corporation included in the gross income of a United States person under section 951 (other than by reason of this paragraph), or “(ii) is described in subsection (b), multiplied by “(B) the international boycott factor (as determined under section 999).”