,i  #aad? ,,congress  #a/ ,session  ,h4 
,r4 #bbbe  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,may #a1 #bjae ,mr4   
,mead[s introduc$ ! foll[+ bill2 :i* 0  
ref]r$ to ! ,committee on ,ways &       
,means1 & 9 addition to ! ,committee on 
! ,budget1 = a p]iod to be subsequ5tly  
det]m9$ by ! ,speak]1 9 ea* case =      
consid]ation ( su* provisions z fall )9 
! jurisdiction ( ! committee conc]n$  ,a
 ,,bill  ,to am5d ! ,int]nal ,rev5ue    
,code ( #aihf to all[ a tempor>y        
divid5ds receiv$ d$uction = repatriat$  
=eign e>n+s1 & = o!r purposes4  #a4     
,%ort title ,?is ,act may be cit$ z !   
,prioritiz+ ,re9ve/m5t 9 ,infra/ructure 
& ,milit>y :ile ,elim9at+ ,debt ,act (  
#bjae or ! ,,prim$ ,act 4  #b4 ,divid5ds
 receiv$ d$uction = repatriat$ =eign    
e>n+s  7a7 ,p]iod = repatriation        
,p>agraph 7#a7 ( section #ife7;a7 ( !   
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by add+ at ! end ! foll[+3 ,only ca%    
divid5ds receiv$ dur+ ! p]iod beg9n+    
aft] ! date ( ! enactm5t ( ! ,prioritiz+

 ,re9ve/m5t 9 ,infra/ructure & ,milit>y 
:ile ,elim9at+ ,debt ,act ( #bjae1 &    
end+ on ,decemb] #ca1 #bjaf1 %all be    
tak5 into acc\nt "u subsection 7a744    
7b7 ,ext5sion ,subsection 7f7 ( section 
#ife ( su* ,code is am5d$ to read z     
foll[s3  7f7 ,election ,! taxpay] may   
elect to apply ?is section to any       
taxable ye> t includes ! p]iod describ$ 
9 subsection 7a77#a74 ,su* election may 
be made only = "o taxable ye> t includes
 su* p]iod & only if made on or be=e !  
due date 7includ+ ext5sions7 = fil+ !   
return ( tax = su* taxable ye>4  4  7c7 
,con=m+ am5dm5ts  7#a7 ,?re%old p]iod   
,section #ife ( su* ,code is am5d$ by   
/rik+ ,june #cj1 #bjjc ea* place x      
occurs & ins]t+ ,june #cj1 #bjad4  7#b7 
,indebt$ness det]m9ation date           
,subp>agraph 7,b7 ( section #ife7;b77#c7
 ( su* ,code is am5d$ by /rik+ ,octob]  
#c1 #bjjd & ins]t+ ,may #a1 #bjae4  7d7 
,effective date ,! am5dm5ts made by ?is 
section %all apply to taxable ye>s end+ 
aft] ! date ( ! enactm5t ( ?is ,act4    

#c4 ,debt r$uction  7a7 ,9 g5]al ,9 !   
case ( any taxes :i*--  7#a7 are receiv$
 9 ! ,treasury dur+ a fiscal ye> = :i*  
!re is n ,f$]al budget deficit1 &  7#b7 
are attributable to eligible #ife       
divid5ds receiv$ by corporations :i* are
 ,unit$ ,/ates %>ehold]s1  an am\nt     
equal to #a_/c ( su* taxes1 r$uc$ by    
#a_/c ( ! am\nt ( ! =eign tax cr$it     
all[$ "u section #ija :i* is            
attributable to ! non-d$uctible portion 
( su* eligible #ife divid5ds1 %all be   
us$ to r$uce ! ,f$]al debt 79 su* mann] 
z ! ,secret>y ( ! ,treasury consid]s    
appropriate74  7b7 ,def9itions ,=       
purposes ( subsection 7a71 ! t]ms       
eligible #ife divid5d & non-d$uctible   
portion %all h ! respective mean+s giv5 
su* t]ms 9 section #iejc7;b77#g7 ( !    
,int]nal ,rev5ue ,code ( #aihf4  #d4    
,highway ,tru/ ,fund ,section #iejc7;b7 
( ! ,int]nal ,rev5ue ,code ( #aihf is   
am5d$ by add+ at ! end ! foll[+ new     
p>agraph3  7#g7 ,o!r transf]s to        
,highway ,tru/ ,fund  7,a7 ,9 g5]al ,!re

 are h]eby appropriat$ to ! ,highway    
,tru/ ,fund am\nts equival5t to ! excess
 (-- 7i7 #a_/c ( ! taxes receiv$ 9 !    
,treasury :i* are attributable to       
eligible #ife divid5ds receiv$ by       
corporations :i* are ,unit$ ,/ates      
%>ehold]s1 ov]  7ii7 #a_/c ( ! am\nt ( !
 =eign tax cr$it all[$ "u section #ija  
:i* is attributable to ! non-d$uctible  
portion ( su* eligible #ife divid5ds4   
7,b7 ,def9itions ,= purposes ( ?is      
subsection--  7i7 ,eligible #ife divid5d
 ,! t]m eligible #ife divid5d means any 
am\nt receiv$ f a controll$ =eign       
corporation = :i* a d$uction is all[$ "u
 section #ife1 z det]m9$ bas$ on        
e/imates made by ! ,secret>y4  7ii7     
,non-d$uctible portion ,! t]m           
non-d$uctible portion means ! excess ( !
 am\nt ( any eligible #ife divid5d ov] !
 d$uctible portion 7z def9$ 9 section   
#ife7;d77#c77 ( su* am\nt4  4  #e4      
,adju/m5t to def5se discretion>y sp5d+  
limitations  7a7 ,9 g5]al ,on ! date t  
is #cj days aft] ! date ( enactm5t ( ?is

 ,act1 & on ,febru>y #a ( ea* ( cal5d>  
ye>s #bjaf ?r\gh #bjbj1 ! revis$        
security category 9 section #bea7;c7 ( !
 ,balanc$ ,budget & ,em]g5cy ,deficit   
,control ,act ( #aihe = fiscal ye> #bjaf
 & ! fiscal ye> beg9n+ on ,septemb] #a/ 
( su* applicable cal5d> ye>1            
respectively1 %all be adju/$ by ! am\nt 
describ$ 9 subsection 7b74  7b7         
,adju/m5t am\nt ,! adju/m5t provid$ 9   
subsection 7a7 is equal to--  7#a7 #a_/c
 ( ! taxes receiv$ 9 ! ,treasury dur+ ! 
mo/ rec5tly end$ cal5d> ye> :i* are     
attributable to eligible #ife divid5ds  
receiv$ by corporations :i* are ,unit$  
,/ates %>ehold]s1 ov]  7#b7 #a_/c ( !   
am\nt ( ! =eign tax cr$it all[$ dur+ !  
mo/ rec5tly end$ cal5d> ye> "u section  
#ija :i* is attributable to !           
non-d$uctible portion ( su* eligible    
#ife divid5ds4  7b7 ,def9itions ,=      
purposes ( subsection 7b71 ! t]ms       
eligible #ife divid5d & non-d$uctible   
portion %all h ! respective mean+s giv5 
su* t]ms 9 section #iejc7;b77#g7 ( !    

,int]nal ,rev5ue ,code ( #aihf4