Repealing the Ill-Conceived and Problematic (RIP) Book Minimum Tax Act

Bill: 117-hr-9030
Sponsor: full_name: Rep. Arrington, Jodey C. [R-TX-19]
Introduced: 2022-09-29
Policy area: Taxation
Latest action: action_date: 2022-09-29
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2022-09-29
action_desc: Introduced in House
text: <p><strong>Repealing the Ill-Conceived and Problematic (RIP) Book Minimum Tax Act</strong></p> <p>This bill repeals the 15% alternative minimum tax on corporations enacted by the Inflation Reduction Act of 2022.</p>

tv_txt: I 117th CONGRESS 2d Session H. R. 9030 IN THE HOUSE OF REPRESENTATIVES September 29, 2022 Mr. Arrington (for himself, Mrs. Miller of West Virginia , Mr. Ferguson , Mr. Schweikert , Mr. Pfluger , Mr. Rice of South Carolina , Mr. Wenstrup , Mr. LaHood , Mr. Estes , Mr. Kustoff , Mr. Kelly of Pennsylvania , Mr. Murphy of North Carolina , and Ms. Van Duyne ) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To 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Repeal of corporate alternative minimum tax (a) In general Section 10101 and section 13904(a) of Public Law 117–169 are repealed.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.