Help Our Businesses Recover Act of 2021
This bill eliminates, for taxable years ending in 2020, the base erosion minimum tax rate applicable to certain large corporations that have deductions with respect to amounts paid or accrued to foreign-related parties exceeding 3% of their total deductions.
To amend the Internal Revenue Code of 1986 to reduce the base erosion 
           minimum tax rate for taxable years ending in 2020.

    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 ``Help Our Businesses Recover Act of 
2021''.

SEC. 2. BASE EROSION MINIMUM TAX RELIEF FOR 2020.

    (a) In General.--Section 59A(b) of the Internal Revenue Code of 
1986 is amended--
            (1) in paragraph (1), by striking ``and (3)'' and inserting 
        ``, (3), and (5)'', and
            (2) 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).''.
    (b) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2019.
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Help Our Businesses Recover Act of 2021
To amend the Internal Revenue Code of 1986 to reduce the base erosion minimum tax rate for taxable years ending in 2020.
Help Our Businesses Recover Act of 2021
Rep. Kim, Andy