[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1365 Introduced in House (IH)]







110th CONGRESS
  1st Session
                                H. R. 1365

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


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 7, 2007

Mr. English of Pennsylvania (for himself, Mr. Sam Johnson of Texas, Mr. 
Sessions, Mr. Davis of Kentucky, Mr. Bishop of Utah, Mr. Gary G. Miller 
  of California, Mr. Jordan of Ohio, Mr. Simpson, Mrs. Musgrave, Mr. 
 Conaway, and Mr. Doolittle) introduced the following bill; which was 
              referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


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

    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 AMT Repeal''.

SEC. 2. REPEAL OF ALTERNATIVE MINIMUM TAX ON CORPORATIONS.

    (a) In General.--Subsection (a) of section 55 of the Internal 
Revenue Code of 1986 (relating to alternative minimum tax imposed) is 
amended by adding at the end the following new flush sentence:
``Except in the case of a corporation, no tax shall be imposed by this 
section for any taxable year beginning after December 31, 2006, and the 
tentative minimum tax for any such taxable year of any taxpayer which 
is a corporation shall be zero for purposes of this title.''.
    (b) Effective Date.--The amendment made by this section shall apply 
to taxable years beginning after December 31, 2006.
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