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.
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.
Actions
Apr 2, 2004
Referred to the House Committee on Ways and Means.
Apr 2, 2004
Sponsor introductory remarks on measure. (CR E524)