Section 15(a) of the Securities Exchange Act of 1934, referred to in subsec. (b)(2)(B)(ii), is classified to section 78o(a) of Title 15, Commerce and Trade.

The date of the enactment of the Tax Cuts and Jobs Act, referred to in subsec. (c)(2)(B)(ii), probably means the date of enactment of title I of Pub. L. 115–97, which was approved Dec. 22, 2017. Prior versions of the bill that was enacted into law as Pub. L. 115–97 included such Short Title, but it was not enacted as part of title I of Pub. L. 115–97.

A prior section 59A, added Pub. L. 99–499, title V, § 516(a), Oct. 17, 1986, 100 Stat. 1770; amended Pub. L. 100–647, title II, § 2001(c)(1), (3)(B), Nov. 10, 1988, 102 Stat. 3594; Pub. L. 101–508, title XI, §§ 11231(a)(1)(A), 11531(b)(3), 11801(c)(2)(E), Nov. 5, 1990, 104 Stat. 1388–444, 1388–490, 1388–523; Pub. L. 102–486, title XIX, § 1915(c)(4), Oct. 24, 1992, 106 Stat. 3024, related to environmental tax, prior to repeal by Pub. L. 113–295, div. A, title II, § 221(a)(12)(A), Dec. 19, 2014, 128 Stat. 4038.

2025—Subsec. (b)(1). Pub. L. 119–21, § 70331(b)(1), substituted “Except as provided in paragraph (2)” for “Except as provided in paragraphs (2) and (3)” in introductory provisions.

Subsec. (b)(1)(A). Pub. L. 119–21, § 70331(a)(1), substituted “10.5 percent” for “10 percent”.

Pub. L. 119–21, § 70331(a)(2), redesignated par. (3) as (2) and struck out former subpar. (2) which related to modifications for taxable years beginning after 2025.

Subsec. (b)(2)(A). Pub. L. 119–21, § 70331(b)(2), substituted “the percentages otherwise in effect under paragraph (1)(A) shall be increased” for “the percentage otherwise in effect under paragraphs (1)(A) and (2)(A) shall each be increased”.

Subsec. (b)(2)(B)(ii). Pub. L. 119–21, § 70331(c)(1), substituted “securities dealer registered” for “registered securities dealer”.

Subsec. (b)(3), (4). Pub. L. 119–21, § 70331(a)(2), redesignated par. (4) as (3). Former par. (3) redesignated (2).

Subsec. (e)(1)(C). Pub. L. 119–21, § 70331(b)(3), substituted “in the case of a taxpayer described in subsection (b)(2)(B)” for “in the case of a taxpayer described in subsection (b)(3)(B)”.

Subsec. (h)(2)(B). Pub. L. 119–21, § 70331(c)(2), substituted “section 6038A(b)(2)” for “section 6038B(b)(2)”.

Subsec. (i)(2). Pub. L. 119–21, § 70331(c)(3), substituted “of subsection (h)” for “of subsection (g)” and “under subsection (h)(3)” for “under subsection (g)(3)”.

Pub. L. 119–21, title VII, § 70331(d), July 4, 2025, 139 Stat. 207, provided that: “The amendments made by this section [amending this section] shall apply to taxable years beginning after December 31, 2025.”

Section applicable to base erosion payments (as defined in subsec. (d) of this section) paid or accrued in taxable years beginning after Dec. 31, 2017, see section 14401(e) of Pub. L. 115–97, set out as an Effective Date of 2017 Amendment note under section 26 of this title.