108 
‘‘(5) REFERENCES
TO
PRIOR
LAW.—Any ref-
erence in this subsection to section 922, 923, or 927 
shall be treated as a reference to such section as in 
effect before its repeal by the FSC Repeal and 
Extraterritorial Income Exclusion Act of 2000.’’. 
(5) Paragraph (4) of section 275(a) is amended 
by striking ‘‘if’’ and all that follows and inserting ‘‘if 
the taxpayer chooses to take to any extent the benefits 
of section 901.’’. 
(6)(A) Subsection (a) of section 291 is amended 
by striking paragraph (4) and by redesignating para-
graph (5) as paragraph (4). 
(B) Paragraph (1) of section 291(c) is amended 
by striking ‘‘subsection (a)(5)’’ and inserting ‘‘sub-
section (a)(4)’’. 
(7)(A) Paragraph (4) of section 441(b) is amend-
ed by striking ‘‘FSC or’’. 
(B) Subsection (h) of section 441 is amended— 
(i) by striking ‘‘FSC or’’ each place it ap-
pears, and 
(ii) by striking ‘‘FSC’S AND’’ in the heading 
thereof. 
(8) Subparagraph (B) of section 884(d)(2) is 
amended by inserting before the comma ‘‘(as in effect
109 
before their repeal by the FSC Repeal and 
Extraterritorial Income Exclusion Act of 2000)’’. 
(9) Section 901 is amended by striking sub-
section (h). 
(10) Clause (v) of section 904(d)(2)(B) is amend-
ed— 
(A) by inserting ‘‘and’’ at the end of sub-
clause (I), by striking subclause (II), and by re-
designating subclause (III) as subclause (II), 
(B) by striking ‘‘a FSC (or a former FSC)’’ 
in subclause (II) (as so redesignated) and insert-
ing ‘‘a former FSC (as defined in section 922)’’, 
and 
(C) by adding at the end the following: 
‘‘Any reference in subclause (II) to section 
922, 923, or 927 shall be treated as a ref-
erence to such section as in effect before its 
repeal 
by 
the 
FSC 
Repeal 
and 
Extraterritorial Income Exclusion Act of 
2000.’’. 
(11) Subsection (b) of section 906 is amended by 
striking paragraph (5) and redesignating paragraphs 
(6) and (7) as paragraphs (5) and (6), respectively. 
(12) Subparagraph (B) of section 936(f)(2) is 
amended by striking ‘‘FSC or’’.
110 
(13) Section 951 is amended by striking sub-
section (c) and by redesignating subsection (d) as sub-
section (c). 
(14) Subsection (b) of section 952 is amended by 
striking the second sentence. 
(15)(A) Paragraph (2) of section 956(c) is 
amended— 
(i) by striking subparagraph (I) and by re-
designating subparagraphs (J) through (M) as 
subparagraphs (I) through (L), respectively, and 
(ii) by striking ‘‘subparagraphs (J), (K), 
and (L)’’ in the flush sentence at the end and in-
serting ‘‘subparagraphs (I), (J), and (K)’’. 
(B) Clause (ii) of section 954(c)(2)(C) is amend-
ed by striking ‘‘section 956(c)(2)(J)’’ and inserting 
‘‘section 956(c)(2)(I)’’. 
(16) Paragraph (1) of section 992(a) is amended 
by striking subparagraph (E), by inserting ‘‘and’’ at 
the end of subparagraph (C), and by striking ‘‘, and’’ 
at the end of subparagraph (D) and inserting a pe-
riod. 
(17) Paragraph (5) of section 1248(d) is amend-
ed— 
(A) by inserting ‘‘(as defined in section 
922)’’ after ‘‘a FSC’’, and
111 
(B) by adding at the end the following new 
sentence: ‘‘Any reference in this paragraph to 
section 922, 923, or 927 shall be treated as a ref-
erence to such section as in effect before its repeal 
by the FSC Repeal and Extraterritorial Income 
Exclusion Act of 2000.’’. 
(18) Subparagraph (D) of section 1297(b)(2) is 
amended by striking ‘‘foreign trade income of a FSC 
or’’. 
(19)(A) Paragraph (1) of section 6011(c) is 
amended by striking ‘‘or former DISC or a FSC or 
former FSC’’ and inserting ‘‘, former DISC, or 
former FSC (as defined in section 922 as in effect be-
fore 
its 
repeal 
by 
the 
FSC 
Repeal 
and 
Extraterritorial Income Exclusion Act of 2000)’’. 
(B) Subsection (c) of section 6011 is amended by 
striking ‘‘AND FSC’S’’ in the heading thereof. 
(20) Subsection (c) of section 6072 is amended 
by striking ‘‘a FSC or former FSC’’ and inserting ‘‘a 
former FSC (as defined in section 922 as in effect be-
fore 
its 
repeal 
by 
the 
FSC 
Repeal 
and 
Extraterritorial Income Exclusion Act of 2000)’’. 
(21) Section 6686 is amended by inserting 
‘‘FORMER’’ before ‘‘FSC’’ in the heading thereof.