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allowed under section 30 solely by reason of the
application of section 30(b)(3)(B).
(iv) Credit Allowable For
Exclusion Preferences of Corporations.--
In the case of a corporation--
(I) the preceding provisions
of this subparagraph shall not
apply, and
(II) the adjusted net minimum
tax for any taxable year is the
amount of the net minimum tax for
such year increased by the amount
of any credit not allowed under
section 29 solely by reason of the
application of section 29(b)(5)(B) or
not allowed under section 28 solely by
reason of the application of section
28(d)(2)(B).
(2) Tentative Minimum Tax.--The term
"tentative minimum tax" has the meaning given to such term
by section 55(b).
SEC. 55. ALTERNATIVE MINIMUM TAX IMPOSED.
(a) General Rule.--There is hereby imposed (in
addition to any other tax imposed by this subtitle a tax
equal to the excess (if any) of--
(1) the tentative minimum tax for the
taxable year, over
(2) the regular tax for the taxable year.
(b) Tentative Minimum Tax.--For purposes of this part-
-
(1) In general.--The tentative minimum tax for
the taxable year is--
(A) 20 percent (21 percent in the case
of a taxpayer other than a corporation) of so
much of the alternative minimum taxable
income for the taxable year as exceeds the
exemption amount, reduced by
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