A bill to amend section 931 of the Internal Revenue Code of 1954, as amended.

Authorizes domestic corporations to elect to take the special tax deduction benefits applicable to income from sources within the United States. Provides that such election shall be made at such time and in such manner as the Secretary of the Treasury may by regulation prescribe, and shall remain in effect until the ninth taxable year following the year such election was made. (Amends 26 U.S.C. 931)