H.R. 5376 · 117th Congress · enacted
Became Public Law No: 117-169.
Latest official action 2022-08-16 · Enacted
TITLE I--COMMITTEE ON FINANCE Subtitle A--Deficit Reduction Part 1--Corporate Tax Reform (Sec. 10101) This bill imposes an alternative minimum tax of 15% of the average annual adjusted financial statement income of domestic corporations (excluding Subchapter S corporations, regulated investment companies, and real estate investment trusts) that exceeds $1 billion over a specified 3-year period. The tax is effective in taxable years beginning after December 31, 2022. Part 2--Excise Tax on Repurchase of Corporate Stock (Sec. 10201) The bill imposes a non-deductible 1% excise tax on the fair market value of stock repurchased by a publicly traded domestic corporation after 2022, with certain exceptions, including for repurchases that are part of a reorganization, are less than $1 million, that are contributed to certain tax-exempt retirement plans, or that are treated as a dividend. The tax applies to purchases of corporate stock by certain corporate subsidiaries and foreign corporations. Part 3--Funding the Internal Revenue Service and Improving Taxpayer Compliance (Sec. 10301) The bill provides additional funding for the Internal Revenue Service for taxpayer services and enforcement, including for operations support, business systems modernization, and the development of a free direct e-file tax return system. It also provides additional funding for the Department of the Treasury…
Congressional Research Service · 2022-08-12
Amount spent specifically on this bill: not disclosed
The reports below name this bill and disclose an organization’s overall lobbying expenses or a firm’s client income for the period. They can cover many bills and issues. These amounts are not payments to the bill or its politicians.
No matching lobbying report is imported yet. This is not evidence that no lobbying occurred.
2,409 latest lobbying reports imported. Some source imports are still in progress.
Sponsors and cosponsors from the official source, limited to members currently in office. Campaign amounts are cycle-wide and are not payments for this bill.
No current-officeholder sponsorship match is available. Historical sponsors may have left office.
0 of 0 source cosponsor records retrieved; only current officials and unwithdrawn sponsorships appear.
These are all-cycle contributions to the listed sponsors’ and cosponsors’ campaigns. FEC does not attribute them to this bill. A donation plus sponsorship does not establish why a politician acted.
The largest 40 donor totals appear here. Open each politician for their complete, paginated PAC donor list.
Only verified links to official sources are shown. A regulation, award or agency action is implementation evidence; it does not by itself establish a causal outcome.
outcome · 2024-08-07
Tax year 2023; source published August 7, 2024
Treasury reported that more than 3.4 million families benefited from $8.4 billion in home clean-energy and efficiency tax credits for tax year 2023. This is reported program uptake and claimed credits; it does not by itself measure emissions reduction, establish net fiscal benefit, or describe the law’s current provisions.
