2502(a)(2) for section 2001(c) as in effect on the date of such receipt . . (d) Effective date The amendments made by this section shall apply to estates of decedents dying, generation-skipping transfers, and gifts made, after December 31, 2024. II Alternative Minimum Tax Repeal 2001. Repeal of alternative minimum tax (a) In general Subchapter A of chapter 1 is amended by striking part VI (and by striking the item relating to such part in the table of parts for subchapter A). (b) Credit for prior year minimum tax liability (1) Limitation Subsection (c) of section 53 is amended to read as follows: (c) Limitation The credit allowable under subsection (a) shall not exceed the regular tax liability of the taxpayer reduced by the sum of the credits allowed under subparts A, B, and D. . (2) Credits treated as refundable Section 53 is amended by adding at the end the following new subsection: (e) Portion of credit treated as refundable (1) In general In the case of any taxable year beginning in 2019, 2020, 2021, or 2022, the limitation under subsection (c) shall be increased by the AMT refundable credit amount for such year. (2) AMT refundable credit amount For purposes of paragraph (1), the AMT refundable credit amount is an amount equal to 50 percent (100 percent in the case of a taxable year beginning in 2022) of the excess (if any) of— (A) the minimum tax credit determined under subsection (b) for the taxable year, over (B) the minimum tax credit allowed under subsection (a) for such year (before the application of this subsection for such year). (3) Credit refundable For purposes of this title (other than this section), the credit allowed by reason of this subsection shall be treated as a credit allowed under subpart C (and not this subpart). (4) Short taxable years In the case of any taxable year of less than 365 days, the AMT refundable credit amount determined under paragraph (2) with respect to such taxable year shall be the amount which bears the same ratio to such amount determined without regard to this