[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[S. 54 Introduced in Senate (IS)]







106th CONGRESS
  1st Session
                                 S. 54

  To amend the Internal Revenue Code of 1986 to repeal the corporate 
                        alternative minimum tax.


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                   IN THE SENATE OF THE UNITED STATES

                            January 19, 1999

    Mr. Kyl introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
  To amend the Internal Revenue Code of 1986 to repeal the corporate 
                        alternative minimum tax.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Corporate Tax Equity Act''.

SEC. 2. REPEAL OF CORPORATE ALTERNATIVE MINIMUM TAX.

    Section 55 of the Internal Revenue Code of 1986 (relating to 
alternative minimum tax imposed) is amended by adding at the end the 
following:
    ``(e) Termination.--In the case of a corporation, this section 
shall not apply to taxable years beginning after the date of enactment 
of the Corporate Tax Equity Act.''.
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