117 S5017 IS: Repealing the Ill-Conceived and Problematic (RIP) Book Minimum Tax Act U.S. Senate 2022-09-29 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.

II117th CONGRESS2d SessionS. 5017IN THE SENATE OF THE UNITED STATESSeptember 29, 2022Mr. Barrasso (for himself, Mrs. Blackburn, Mr. Boozman, Mr. Braun, Mr. Cassidy, Mr. Crapo, Mr. Lankford, Ms. Lummis, Mr. Portman, Mr. Risch, Mr. Toomey, Mr. Young, Mr. Wicker, and Mr. Hoeven) introduced the following bill; which was read twice and referred to the Committee on FinanceA BILLTo repeal the corporate alternative minimum tax.

1.

Short title

This Act may be cited as the Repealing the Ill-Conceived and Problematic (RIP) Book Minimum Tax Act .

2.

Repeal of corporate alternative minimum tax

(a)

In general

Sections 10101 and 13904(a) of Public Law 117–169 are repealed.(b)

Applicability

The Internal Revenue Code of 1986 shall be applied and administered as if such sections (and the amendments made by such sections) had not been enacted.