Children of Fallen Warriors AMT Relief Act

Children of Fallen Warriors AMT Relief Act - Amends the Internal Revenue Code to treat annuity payments to a surviving child of an eligible participant under the military's Survivor Benefit Plan as the earned income of such child, for purposes of exempting such payments from the alternative minimum tax (AMT).

[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5529 Introduced in House (IH)]

111th CONGRESS
  2d Session
                                H. R. 5529

 To amend the Internal Revenue Code of 1986 to exempt survivor benefit 
   annuity plan payments from the individual alternative minimum tax.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             June 15, 2010

   Mr. Carter (for himself, Mr. King of New York, Ms. Granger, Mrs. 
McMorris Rodgers, Mr. McCaul, Mr. Olson, Mr. Critz, Mr. Wilson of South 
   Carolina, Mr. Gohmert, and Mr. Rogers of Kentucky) introduced the 
 following bill; which was referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to exempt survivor benefit 
   annuity plan payments from the individual alternative minimum tax.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Children of Fallen Warriors AMT 
Relief Act''.

SEC. 2. EXEMPTION FOR SURVIVOR BENEFIT ANNUITY PLAN PAYMENTS FROM THE 
              INDIVIDUAL ALTERNATIVE MINIMUM TAX.

    (a) In General.--Section 59(j)(1) of the Internal Revenue Code of 
1986 is amended by adding at the end the following new flush sentence:
        ``Solely for purposes of this subsection, any annuity paid 
        under the Survivor Benefit Plan under subchapter II of chapter 
        73 of title 10, United States Code, shall be considered earned 
        income of such child.''.
    (b) Effective Date.--The amendment made by this section shall apply 
to taxable years beginning after the date of the enactment of this Act.
                                 <all>