term qualified cash dividend amount means an amount of the cash dividends which are received during a taxable year by such shareholder from controlled foreign corporations equal to— (1) the multiplier determined under section 2(d)(5) of the Partnership to Build America Act of 2017 for such shareholder, multiplied by (2) the face amount of qualified infrastructure bonds acquired at its original issue (directly or through an underwriter) by such shareholder. (c) Limitations (1) In general The amount of dividends taken into account under subsection (a) for a taxable year shall not exceed the lesser of— (A) the cash dividends received by the taxpayer for such taxable year, or (B) the amount shown on the applicable financial statement as earnings permanently reinvested outside the United States. (2) Dividends must be extraordinary The amount of dividends taken into account under subsection (a) shall not exceed the excess (if any) of— (A) the cash dividends received during the taxable year by such shareholder from controlled foreign corporations, over (B) the annual average for the base period years of the cash dividends received during each base period year by such shareholder from controlled foreign corporations. (3) Reduction of benefit if increase in related party indebtedness The amount of dividends which would (but for this paragraph) be taken into account under subsection (a) shall be reduced by the excess (if any) of— (A) the amount of indebtedness of the controlled foreign corporation to any related person (as defined in section 954(d)(3)) as of the close of the taxable year for which the election under this section is in effect, over (B) the amount of indebtedness of the controlled foreign corporation to any related person (as so defined) as of the close of the preceding taxable year. (4) Treatment of controlled foreign corporations All controlled foreign corporations with respect to which the taxpayer is a United States shareholder shall be treated as 1 controlled foreign corporation for purposes of this