To amend the Internal Revenue Code of 1986 to simplify the $500 per child tax credit and other individual nonrefundable credits by repealing the complex limitations on the allowance of those credits resulting from their interaction with the alternative minimum tax.

Summary

Amends the Internal Revenue Code with respect to nonrefundable personal credits to revise the limitation based on the amount of tax to provide that the aggregate amount allowed for such credits shall not exceed the sum of: (1) the taxpayer's regular tax liability; and (2) the alternative minimum tax.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 6 August 1998

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• Introduced in House (PDF)

  Introduced in House · EN · 6 August 1998

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• Introduced in House

  summary · EN · 6 August 1998

  Open at official source

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