110 HR 1365 IH: Corporate AMT Repeal U.S. House of Representatives 2007-03-07 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I 110th CONGRESS 1st Session H. R. 1365 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.

1.

Short title

This Act may be cited as the Corporate AMT Repeal.

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.