Balanced Budget and Emergency Deficit Control Act of 1985

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Sec. 2. Minimum corporate tax by corporations.

(a) Notwithstanding any other provision of this joint resolution, the Senate Committee on Finance is directed to report to the Senate by July 1, 1986, legislation providing for payment of an alternative minimum corporate tax by corporations on the broadest feasible definition of income to assure that all of those with economic income pay their fair share of taxes: Provided, That said alternative minimum corporate tax shall take effect for corporate tax years commencing on or after October 1,1986. The revenue raised by this tax shall be applied to reduce the Federal deficit.

(b) Notwithstanding any other provision of this joint resolution, the Committee on Ways and Means is directed to report to the House of Representatives legislation providing for payment of an alternative minimum corporate tax by corporations based upon the broadest feasible definition of income to assure that all of those with economic income pay their fair share of taxes: Provided, That, the Committee on Ways and Means shall report such legislation prior to October 1,1986.[1]

 

 

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Counsel Notes
Endnotes

[1] The Committee on Ways and Means did not report legislation pursuant to this section on this subject. The issue of the alternative minimum corporate tax was included in the Tax Reform Act of 1986 (TRA) (Pub. L. 99–514, 100 Stat. 2085; October 22, 1986).

Joint Explanatory Statement of Managers

The conference report on H. J. Res. 372 included the following text on this section of the Balanced Budget and Emergency Deficit Control Act of 1985:

2. CORPORATE MINIMUM TAX

As initially passed by the Senate, H.J. Res. 372 contained an amendment directing the Committee on Finance to report minimum corporate tax legislation by July 1, 1986, to be effective on and after October 1, 1986, with revenues raised by this tax to be applied toward deficit reduction.

House Amendment

Directs the Committee on Ways and Means to report an alternative corporate minimum tax prior to October 1, 1986.

Senate Amendment

Directs the Senate Finance Committee and the House Ways and Means Committee to report, no later than April 15, 1986, an alternative corporate minimum tax to be effective not later than July 1, 1986, with revenues raised by such tax to be used to reduce the deficit.

Conference Agreement

The Senate recedes from its amendment and concurs in the House amendment.

[Balanced Budget and Emergency Deficit Control Act of 1985, H. Rept. 99-433 (99th Congress)  Dec. 12, 1985.] 


LEGISLATIVE HISTORY NOTES
PUBLIC LAWS

Pub. L. 99–177, title II, Resolving clause, Dec. 12, 1985, 99 Stat. 1092 (Balanced Budget and Emergency Deficit Control Act of 1985). 

Rule of Construction

In general, the directives to in legislation to Congressional committees, as set forth in this section, are not enforceable through law or the rules of either the Senate or the House of Representatives, unless specific procedures are set forth. Failure to comply with the directives does not give rise to a cause of action under law nor other repercussions unless specified (e.g. — a procedure could be set forth such that failure to comply could result in expedited consideration given to alternate legislation on the same subject matter).

 

 

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Resolving Clause

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[HBC § 200.02]