S. 138 — A bill to amend the Internal Revenue Code of 1986 to repeal alternative minimum tax limitations on private activity bond interest, and for other purposes.

Summary

Amends the Internal Revenue Code to exempt interest earned on tax-exempt private activity bonds from the alternative minimum tax (AMT) and to exclude such interest as an adjustment to current earnings for purposes of computing alternative minimum taxable income.

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Related Legislation

H.R. 425To 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.
2009-01-09Referred to the House Committee on Ways and Means.
Related

Legislative Actions

2009-01-06
Introduced in Senate
2009-01-06
Sponsor introductory remarks on measure. (CR S115-116)
2009-01-06
Read twice and referred to the Committee on Finance.

A bill to amend the Internal Revenue Code of 1986 to repeal alternative minimum tax limitations on private activity bond interest, and for other purposes.

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Summary

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