,i  #aai? ,,congress  #a/ ,session  ,h4 
,r4 #bdbc  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,m>* #bg1 #bjbe,mr4   
,e/es 7= himself1 ,mr4 ,bu*anan1 ,mr4   
,smi? ( ,nebraska1 ,mr4 ,kelly (        
,p5nsylvania1 ,mr4 ,s*weik]t1 ,mr4      
,la,hood1 ,mr4 ,arr+ton1 ,mr4 ,smuck]1  
,mr4 ,h]n ( ,oklahoma1 ,mrs4 ,mill] (   
,we/ ,virg9ia1 ,mr4 ,murphy1 ,mr4       
,ku/(f1 ,mr4 ,fitzpatrick1 ,mr4 ,/eube1 
,ms4 ,t5ney1 ,mrs4 ,fis*ba*1 ,mr4 ,moore
 ( ,utah1 ,ms4 ,van ,duyne1 ,mr4        
,fe5/ra1 ,ms4 ,malliotakis1 ,mr4 ,c>ey1 
,mr4 ,yakym1 ,mr4 ,mill] ( ,ohio1 ,mr4  
,bean ( ,florida1 & ,mr4 ,moran7        
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,ways & ,means  ,a     
,,bill  ,to am5d ! ,int]nal ,rev5ue     
,code ( #aihf to modify ! application ( 
! base erosion & anti-abuse tax )       
respect to c]ta9 entities connect$ to   
jurisdictions :i* h implem5t$ an        
extrat]ritorial tax4  #a4 ,%ort title   
,?is ,act may be cit$ z ! ,unfair ,tax  
,prev5tion ,act4  #b4 ,application ( !  

base erosion & anti-abuse tax ) respect 
to c]ta9 entities connect$ to           
extrat]ritorial tax jurisdictions  7a7  
,9 g5]al ,section #ei;,a ( ! ,int]nal   
,rev5ue ,code ( #aihf is am5d$ by       
r$esignat+ subsection 7i7 z subsection  
7j7 & ins]t+ aft] subsection 7h7 !      
foll[+ new subsection3  7i7 ,special    
rules = =eign-,own$ extrat]ritorial tax 
regime entities  7#a7 ,9 g5]al ,9 ! case
 ( any =eign-own$ extrat]ritorial tax   
regime entity-- 7,a7 su* entity %all be 
treat$ z describ$ 9 subp>agraphs 7,b7 & 
7,c7 ( subsection 7e77#a7 = purposes (  
det]m9+ :e!r su* entity is an applicable
 taxpay]1  7,b7 subsection 7b77#b7 %all 
be appli$ by sub/itut+ ! date ( !       
enactm5t ( subsection 7i7 = ,decemb]    
#ca1 #bjbe1  7,c7 subsections           
7c77#b77;,b71 7c77#d77;,b77ii71 &       
7d77#e7 %all n apply1 &  7,d7 #ej p]c5t 
( su* entity's co/ ( goods sold %all be 
treat$ z a base erosion tax b5efit )    
respect to a base erosion paym5t4  7#b7 
,=eign-own$ extrat]ritorial tax regime  

entity ,= purposes ( ?is subsection--   
7,a7 ,9 g5]al ,! t]m #8=eign-own$       
extrat]ritorial tax regime entity' means
 any taxpay] :i* is controll$ by a =eign
 entity 7o!r ?an a =eign entity         
controll$ by any dome/ic corporation7 if
 an extrat]ritorial tax is impos$ on any
 ( ! foll[+ entities3 7i7 ,any =eign    
entity :i* controls ! taxpay]4  7ii7    
,any =eign entity :i* is controll$ by-- 
7,i7 ! taxpay]1 or  7,,ii7 any =eign    
entity describ$ 9 clause 7i74  7iii7    
,any trade or bus9ess ( any =eign entity
 describ$ 9 clause 7i7 or 7ii74  7,b7   
,extrat]ritorial tax  7i7 ,9 g5]al ,!   
t]m extrat]ritorial tax means any tax   
impos$ by a =eign c\ntry on a           
corporation 7includ+ any trade or       
bus9ess ( su* corporation7 :i* is       
det]m9$ by ref]5ce to any income or     
pr(its receiv$ by any p]son 7includ+ any
 trade or bus9ess ( any p]son7 by reason
 ( su* p]son be+ connect$ to su*        
corporation ?r\gh any *a9 ( own]%ip1    
det]m9$ )\t reg>d to ! own]%ip int]e/s (

 any individual1 & o!r ?an by reason (  
su* corporation hav+ a direct or        
indirect own]%ip int]e/ 9 su* p]son4    
7ii7 ,tax ,! t]m tax includes any       
increase 9 tax :e!r effectuat$ by an    
increase 9 ! rate or base ( a tax1 by a 
d5ial ( d$uctions or cr$its1 or o!rwise4
  7,c7 ,=eign entity ,! t]m =eign entity
 means any =eign p]son o!r ?an an       
individual4  7,d7 ,control ,control has 
! same mean+ giv5 su* t]m "u section    
#ied7;d77#c74  4  7b7 ,effective date ,!
 am5dm5t made by ?is section %all apply 
to taxable ye>s beg9n+ aft] ! date ( !  
enactm5t ( ?is ,act4