26 U.S.C. § 908: Reduction of credit for participation in or cooperation with an international boycott

the amount of the credit which, but for this section, would be allowed under section 901 for the taxable year, multiplied by the international boycott factor (determined under section 999). Section 275(a)(4) and section 78 shall not apply to any amount of taxes denied credit under subsection (a). The amendments made by this part (other than by section 1065) [enacting this section and section 999 of this title and amending sections 952 and 995 of this title] apply to participation in or cooperation with an international boycott more than 30 days after the date of enactment of this Act [ Oct. 4, 1976 ]. In the case of operations which constitute participation in or cooperation with an international boycott and which are carried out in accordance with the terms of a binding contract entered into before September 2, 1976 , the amendments made by this part (other than by section 1065) apply to such participation or cooperation after December 31, 1977 .”