H. R. 4839—18 
(2) Clause (iv) of section 54(g)(4)(C) is amended by striking 
‘‘a cooperative described in section 927(a)(4)’’ and inserting 
‘‘an organization to which part I of subchapter T (relating 
to tax treatment of cooperatives) applies which is engaged 
in the marketing of agricultural or horticultural products’’. 
(3) Paragraph (4) of section 245(c) is amended by adding 
at the end the following new subparagraph: 
‘‘(C) FSC.—The term ‘FSC’ has the meaning given such 
term by section 922.’’. 
(4) Subsection (c) of section 245 is amended by inserting 
at the end the following new paragraph: 
‘‘(5) REFERENCES
TO
PRIOR
LAW.—Any reference 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 paragraph (5) as paragraph 
(4). 
(B) Paragraph (1) of section 291(c) is amended by striking 
‘‘subsection (a)(5)’’ and inserting ‘‘subsection (a)(4)’’. 
(7)(A) Paragraph (4) of section 441(b) is amended by 
striking ‘‘FSC or’’. 
(B) Subsection (h) of section 441 is amended— 
(i) by striking ‘‘FSC or’’ each place it appears, 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 before their repeal 
by the FSC Repeal and Extraterritorial Income Exclusion Act 
of 2000)’’. 
(9) Section 901 is amended by striking subsection (h). 
(10) Clause (v) of section 904(d)(2)(B) is amended— 
(A) by inserting ‘‘and’’ at the end of subclause (I), 
by striking subclause (II), and by redesignating subclause 
(III) as subclause (II), 
(B) by striking ‘‘a FSC (or a former FSC)’’ in subclause 
(II) (as so redesignated) and inserting ‘‘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 reference 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’’. 
(13) Section 951 is amended by striking subsection (c) 
and by redesignating subsection (d) as subsection (c). 
(14) Subsection (b) of section 952 is amended by striking 
the second sentence. 
(15)(A) Paragraph (2) of section 956(c) is amended—
H. R. 4839—19 
(i) by striking subparagraph (I) and by redesignating 
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 inserting ‘‘subparagraphs 
(I), (J), and (K)’’. 
(B) Clause (ii) of section 954(c)(2)(C) is amended 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 subpara-
graph (C), and by striking ‘‘, and’’ at the end of subparagraph 
(D) and inserting a period. 
(17) Paragraph (5) of section 1248(d) is amended— 
(A) by inserting ‘‘(as defined in section 922)’’ after 
‘‘a FSC’’, and 
(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 reference 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 before 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 before 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. 
Speaker of the House of Representatives. 
Vice President of the United States and
President of the Senate.