Book Minimum Tax Repeal Act

[AI summary unavailable — showing source text] [Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 796 Introduced in Senate (IS)] <DOC> 119th CONGRESS 1st Session S. 796 To amend the Internal Revenue Code of 1986 to repeal the corporate alternative minimum tax. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES February 27, 2025 Mr. Barrasso (for himself, Mr. Crapo, Mr. Lankford, Mr. Cassidy, Mr. Daines, Mrs. Blackburn, Mr. Ricketts, Mr. Risch, and Ms. Lummis) 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 ``Book Minimum Tax Repeal Act''. SEC. 2. REPEAL OF CORPORATE ALTERNATIVE MINIMUM TAX. (a) In General.--Section 55 of the Internal Revenue Code of 1986 is amended-- (1) in subsection (a)-- (A) by striking ``There'' and inserting ``In the case of a taxpayer o…