[Congressional Bills 116th Congress]
[From the U.S. Government Publishing Office]
[H.R. 8988 Introduced in House (IH)]

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116th CONGRESS
  2d Session
                                H. R. 8988

 To amend the Internal Revenue Code of 1986 to reduce the base erosion 
           minimum tax rate for taxable years ending in 2020.


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                    IN THE HOUSE OF REPRESENTATIVES

                           December 16, 2020

Mr. Kim (for himself, Mr. Suozzi, and Mr. King of New York) 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 reduce the base erosion 
           minimum tax rate for taxable years ending in 2020.

    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 ``Save Jobs During the Pandemic Act of 
2020''.

SEC. 2. BASE EROSION MINIMUM TAX RELIEF FOR 2020.

    (a) In General.--Section 59A(b) of the Internal Revenue Code of 
1986 is amended--
            (1) in paragraph (1), by striking ``and (3)'' and inserting 
        ``, (3), and (5)'', and
            (2) by adding at the end the following new paragraph:
            ``(5) Modification for taxable years ending in 2020.--
                    ``(A) In general.--In the case of any taxable year 
                ending in 2020, paragraph (1) shall be applied by 
                substituting `0 percent' for `10 percent' in 
                subparagraph (A) of such paragraph.
                    ``(B) Coordination with section 15.--Section 15 
                shall not apply to any of the changes in rates of tax 
                by reason of subparagraph (A).''.
    (b) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2019.
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