To amend the Internal Revenue Code of 1986 to increase the exemption amounts for individuals under the alternative minimum tax.

Summary

Amends the Internal Revenue Code to increase the exemption amount under the alternative minimum tax to $100,000 for married taxpayers filing joint tax returns and surviving spouses and to $75,000 for unmarried taxpayers. Increases the phase-out levels for calculating reductions in the such exemption amount and the rate of phase-out. Provides for an inflation adjustment to the exemption amount and phase-out level. Exempts the amendments made by this Act from the general terminating date of the Economic Growth and Tax Relief Reconciliation Act of 2001 (December 31, 2010).

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Timeline

1. 5 May 2004

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 5 May 2004

   Introduced

   Introduced in House

   Source: IntroReferral

3. 5 May 2004

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 5 May 2004 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 5 May 2004

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 5 May 2004

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 5 May 2004

  Open at official source

Sponsors

• Rep. Israel, Steve [D-NY-3] · D · Sponsor
• NITA LOWEY · D · Cosponsor
• · hswm00 · Standing

Related records

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