1. Clarification (a) Amendment of 1986 Code Except as otherwise expressly provided, whenever in this Act an amendment or repeal is expressed in terms of an amendment to, or repeal of, a section or other provision, the reference shall be considered to be made to a section or other provision of the Internal Revenue Code of 1986. (b) Table of contents The table of contents for this title is as follows: Section 1. Clarification. Title I—Immediate cost recovery Sec. 101. Repeal of certain limitations on the expensing of section 179 property. Sec. 102. Election of shorter recovery period for purpose of determining depreciation deduction. Title II—Reduced rate on business income Sec. 201. Reduced corporate rate. Sec. 202. Reduced rate on other business income. Title III—Exemption system for taxation of foreign income Sec. 301. Deduction for dividends received by domestic corporations from certain foreign corporations. Sec. 302. Treatment of deferred foreign income upon transition to participation exemption system of taxation. Sec. 303. Look-thru rule for related controlled foreign corporations made permanent. Sec. 304. Repeal of section 902 indirect foreign tax credits