To amend the Internal Revenue Code of 1986 to repeal the corporate alternative minimum tax.
Summary
What This Bill Does
The bill repeals short title This Act may be cited as the Book Minimum Tax Repeal Act and creates repeal of corporate alternative minimum tax Section 55 of the Internal Revenue Code of 1986 is amended— in subsection (a)— by striking There and inserting In the case of a taxpayer other than a corporation. It relies on tax rate changes, definition changes, tax credits, and compliance mandates. The main policy areas are Regulated Industries, Environment, and Finance.
Who Benefits and How
Regulated entities and members of the public affected by the bill could face lower compliance burdens and Public beneficiaries or protected communities affected by the clause could see lower costs.
Who Bears the Burden and How
Federal, state, or local agencies responsible for implementing the clause would take on compliance duties, Financial services firms and customers affected by the bill could lose revenue opportunities, and Environmental and public health interests affected by the bill could lose revenue opportunities.
Key Provisions
- Repeals short title This Act may be cited as the Book Minimum Tax Repeal Act.
- Creates repeal of corporate alternative minimum tax Section 55 of the Internal Revenue Code of 1986 is amended— in subsection (a)— by striking There and inserting In the case of a taxpayer other than a corporation...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill repeals short title This Act may be cited as the Book Minimum Tax Repeal Act and creates repeal of corporate alternative minimum tax Section 55 of the Internal Revenue Code of 1986 is amended— in subsection (a)— by striking There and inserting In the case of a taxpayer other than a corporation.
Key Policy Areas
Regulated Industries, Environment, Finance
Primary Purpose
The bill repeals short title This Act may be cited as the Book Minimum Tax Repeal Act and creates repeal of corporate alternative minimum tax Section 55 of the Internal Revenue Code of 1986 is amended— in subsection (a)— by striking There and inserting In the case of a taxpayer other than a corporation.
Policy Domains
Whole bill
Identified Gains
- Regulated entities and members of the public affected by the bill
- Public beneficiaries or protected communities affected by the clause
Identified Costs
- Federal, state, or local agencies responsible for implementing the clause
- Financial services firms and customers affected by the bill
- Environmental and public health interests affected by the bill
Sponsors
Legislative Progress
IntroducedMr. Barrasso (for himself, Mr. Crapo, Mr. Lankford, Mr. Young, …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology