A bill to amend the Internal Revenue Code of 1986 to allow the nonrefundable personal credits, the standard deduction, and the deduction for personal exemptions in determining alternative minimum tax liability.

referredUnited States· United States Congress· EN

Introduced

1 October 1997

Last action

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Status

Read twice and referred to the Committee on Finance.

Summary

Amends the Internal Revenue Code to revise the aggregate amount of credits allowed so that such amount shall not exceed the sum of: (1) the taxpayer's regular tax liability; plus (2) the alternative minimum tax amount. Permits the standard deduction and the deduction for personal exemptions to be used in calculating alternative minimum taxable income.

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Documents

3 official files

Introduced in Senate (text)

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Introduced in Senate (text)
Introduced in Senate · EN · 1 October 1997
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Introduced in Senate (PDF)
Introduced in Senate · EN · 1 October 1997
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Introduced in Senate
summary · EN · 1 October 1997
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Sources

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Official source: https://www.congress.gov/bill/105th-congress/senate-bill/1242
Open data entity: https://api.congress.gov/v3/bill/105/s/1242