Children of Fallen Ser­vice­mem­bers AMT Relief Act of 2019

Bill: 116-hr-1791
Sponsor: full_name: Rep. Larsen, Rick [D-WA-2]
Introduced: 2019-03-14
Policy area: Taxation
Subjects: Income tax rates

Military personnel and dependents

Veterans' pensions and compensation
Latest action: action_date: 2019-03-14
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2019-03-14
action_desc: Introduced in House
text: <p><b>Children of Fallen Servicemembers AMT Relief Act </b><b>of 2019</b></p> <p>This bill modifies the individual alternative minimum tax (AMT) to specify that any annuity paid under the Department of Defense (DOD) Survivor Benefit Plan is considered earned income of a child. This prevents the benefits paid to children from being subject to the AMT. (The DOD program provides a lifetime annuity to survivors of military service members and retirees.) </p>

tv_txt: I 116th CONGRESS 1st Session H. R. 1791 IN THE HOUSE OF REPRESENTATIVES March 14, 2019 Mr. Larsen of Washington (for himself, Mr. Carter of Texas , Mrs. Rodgers of Washington , Mr. Connolly , Mr. Bishop of Georgia , Mr. Wilson of South Carolina , and Mr. Wittman ) 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 exempt survivor benefit annuity plan payments from the individual alternative minimum tax.

1. Short title This Act may be cited as the Children of Fallen Ser­vice­mem­bers AMT Relief Act of 2019 . 2. Exemption for survivor benefit annuity plan payments from the individual alternative minimum tax (a) In general Section 59(j)(1) of the Internal Revenue Code of 1986 is amended by adding at the end the following new flush sentence: Solely for purposes of this subsection, any annuity paid under the Survivor Benefit Plan under subchapter II of chapter 73 of title 10, United States Code, shall be considered earned income. . (b) Effective date The amendment made by this section shall apply to taxable years beginning after the date of the enactment of this Act.