base company oil related income. . (B) Section 954(b) is amended— (i) by striking and the foreign base company services income in paragraph (5) and inserting the foreign base company services income, and the foreign base company oil related income , and (ii) by adding at the end the following new paragraph: (6) Foreign base company oil related income not treated as another kind of foreign base company income Income of a corporation which is foreign base company oil related income shall not be considered foreign base company income of such corporation under paragraph (2) or (3) of subsection (a). . (k) Effective dates (1) In general Except as otherwise provided in this subsection, the amendments made by this section shall apply to taxable years of foreign corporations beginning after December 31, 2022, and to taxable years of United States shareholders in which or with which such taxable years of foreign corporations end. (2) Regulatory authority and coordination with other provisions The amendments made by subsections (c) and (d) shall apply to taxable years of foreign corporations beginning after the date of the enactment of this Act, and to taxable years of United States shareholders in which or with which such taxable years of foreign corporations end. (3) Repeal of reduced rate of tax