section shall apply to a taxpayer for a taxable year only if the taxpayer elects to have this section apply for such taxable year. (h) Alternative minimum tax For purposes of calculating the alternative minimum tax under section 55, a taxpayer may use any credit received for a qualified contribution under this section. . (b) Clerical amendment The table of sections for subpart A of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after the item relating to section 25D the following new item: Sec. 25E. Contributions to eligible scholarship-granting organizations. . (c) Credit for corporations Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section: 45U. Contributions to eligible scholarship-granting organizations (a) Allowance of credit Subject to section 202(c) of the School Choice Now Act , for purposes of section 38, there shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to the sum of any qualified contributions (as defined in section 25E(c)(2)) made by such corporation taxpayer during the taxable year. (b) Amount of credit The credit allowed under subsection (a) for any taxable year shall not exceed 5 percent of the taxable income (as defined in section 170(b)(2)(D)) of the domestic corporation for such taxable year. (c) Additional provisions For purposes of this section, any qualified contributions made by a domestic corporation shall be subject to the provisions of section 25E (including subsection (d) of such section), to the extent applicable. (d) Election This section shall apply to a taxpayer for a taxable year only if the taxpayer elects to have this section apply for such taxable year. . (d) Credit part of general business credit Section 38(b) is amended— (1) by striking plus at the end of paragraph (32)