A bill to amend the Internal Revenue Code of 1986 to treat aquatic products in the same manner as agricultural and horticultural products with respect to the determination of exempt foreign trade income.

Amends the Internal Revenue Code to include aquatic products within the framework of the special income tax rule for foreign trade income allocable to a qualified cooperative that is a shareholder of a foreign sales corporation. (Current law expressly refers only to agricultural and horticultural products in this context.)