A bill to amend the Internal Revenue Code of 1954 with respect to the application of the investment tax credit at risk rules in the case of certain subchapter S corporations.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to permit subchapter S corporations in the automobile leasing business to allocate their at-risk loans, for purposes of the investment tax credit, among shareholders in the same manner as other ownership interests are allocated. Limits such allocation authority to subchapter S corporations which for the current taxable year and each of the two preceding taxable years: (1) had at least 150 full-time employees working directly with the care rental business; and (2) had at least $50,000,000 in gross receipts from the car rental business.…