summary
Introduced
In Committee
Crossed Over
Passed
Dead
Introduced Session
112th Congress
Bill Summary
Individual AMT Repeal Act of 2011 - Amends the Internal Revenue Code to repeal the alternative minimum tax (AMT) on individuals after 2010.
AI Summary
This bill, known as the Individual AMT Repeal Act of 2011, aims to eliminate the alternative minimum tax (AMT) for individuals. The AMT is a separate tax calculation designed to ensure that taxpayers with significant deductions and credits still pay a minimum amount of tax. By repealing this provision, the bill intends to simplify tax obligations for individuals and prevent them from having to pay a higher tax under the AMT rules. Specifically, it amends the Internal Revenue Code to state that for taxable years beginning after December 31, 2010, no AMT will be imposed on individuals, and their tentative minimum tax, which is a component of the AMT calculation, will be zero. This change is effective for tax years starting after December 31, 2010.
Committee Categories
Budget and Finance
Sponsors (38)
Roscoe Bartlett (R),
Marsha Blackburn (R),
Paul Broun (R),
Dan Burton (R),
Jason Chaffetz (R),
Mike Coffman (R),
K. Michael Conaway (R),
Chip Cravaack (R),
Scott DesJarlais (R),
John Duncan (R),
John Fleming (R),
Trent Franks (R),
Scott Garrett (R),
Phil Gingrey (R),
Louie Gohmert (R),
Bob Goodlatte (R),
Vicky Hartzler (R),
Nan Hayworth (R),
Wally Herger (R),
Darrell Issa (R),
Jack Kingston (R),
Doug Lamborn (R),
Leonard Lance (R),
Steven LaTourette (R),
Kenny Marchant (R),
Tom McClintock (R),
Thaddeus McCotter (R),
David McKinley (R),
Ron Paul (R),
Mike Pence (R),
Ted Poe (R),
David Roe (R),
Steve Scalise (R),
F. James Sensenbrenner (R),
Cliff Stearns (R),
Lee Terry (R),
Mike Turner (R),
Rob Wittman (R),
Last Action
Referred to the House Committee on Ways and Means. (on 02/08/2011)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/112th-congress/house-bill/547/all-info |
| BillText | http://gpo.gov/fdsys/pkg/BILLS-112hr547ih/pdf/BILLS-112hr547ih.pdf |
| Bill | http://gpo.gov/fdsys/pkg/BILLS-112hr547ih/pdf/BILLS-112hr547ih.pdf.pdf |
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