H.R. 425 — To amend the Internal Revenue Code of 1986 to prevent the alternative minimum tax from effectively repealing the Federal tax exemption for interest on State and local private activity bonds.

Summary

Amends the Internal Revenue Code to eliminate tax-exempt interest earned on private activity bonds as an item of tax preference for purposes of calculating the alternative minimum tax.

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Related Legislation

S. 138A bill to amend the Internal Revenue Code of 1986 to repeal alternative minimum tax limitations on private activity bond interest, and for other purposes.
2009-01-06Read twice and referred to the Committee on Finance.
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2009-01-09
Introduced in House
2009-01-09
Introduced in House
2009-01-09
Referred to the House Committee on Ways and Means.

To amend the Internal Revenue Code of 1986 to prevent the alternative minimum tax from effectively repealing the Federal tax exemption for interest on State and local private activity bonds.

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