DENIAL OF DISC BENEFITS.

SEC. 1063. DENIAL OF DISC BENEFITS. (a) International Boycott Activity.— Subparagraph (D) of section 995(b)(1) (relating to distributions in qualified years) is amended to read as follows: “(D) the sum of— “(i) one-half of the excess of the taxable income of the DISC for the taxable year, before reduction for any distributions during the year, over the sum of the amounts deemed distributed for the taxable year under subparagraphs (A), (B), and (C), and “(ii) an amount equal to the amount determined under clause (i) multiplied by the international boycott factor determined Under section 999, and”.