H.R. 7377 - Children of Fallen Servicemembers AMT Relief Act

115TH CONGRESS
2D SESSION

H.R. 7377

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

DECEMBER 20, 2018

Mr. LARSEN of Washington 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 Servicemembers 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.