A bill to amend the Internal Revenue Code of 1954 to increase the effectiveness of the minimum tax for tax preferences.

Summary

Imposes, under provisions of the Internal Revenue Code relating to the imposition of a minimum tax for tax preferences, with respect to the income of every person, a tax equal to 10 percent of the amount (if any) by which the sum of the items of tax preference exceeds the excludable amount. States that such tax shall apply to taxable years beginning after December 31, 1974.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 11 April 1974

   Introduced

   Referred to Senate Committee on Interior and Insular Affairs.

   Source: IntroReferral

2. 11 April 1974

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in Senate

  summary · EN · 11 April 1974

  Open at official source

Sponsors

• Sen. Biden, Joseph R., Jr. [D-DE] · D · Sponsor
• · sseg00 · Standing

Related records

No cross-record relationships stored yet.