Section 1 Short title
This Act may be cited as the “Save Jobs During the Pandemic Act of 2020”.
Save Jobs During the Pandemic Act of 2020
A BILL
To amend the Internal Revenue Code of 1986 to reduce the base erosion minimum tax rate for taxable years ending in 2020.
Sec. 2 Base erosion minimum tax relief for 2020
in paragraph (1), by striking “and (3)” and inserting “, (3), and (5)”, and
by adding at the end the following new paragraph:
“(5) Modification for taxable years ending in 2020
“(A) In general—In the case of any taxable year ending in 2020, paragraph (1) shall be applied by substituting “0 percent” for “10 percent” in subparagraph (A) of such paragraph.
“(B) Coordination with section 15—Section 15 shall not apply to any of the changes in rates of tax by reason of subparagraph (A).”
Effective date— The amendments made by this section shall apply to taxable years beginning after December 31, 2019.