HR 2524
105th Congress
House
Taxation
Income tax
Minimum tax
Personal income tax
Tax credits
Tax deductions
Tax exemption
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.
Introduced: September 23, 1997
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 24, 1997
Sponsor introductory remarks on measure. (CR E1833)
Sep 23, 1997
Referred to the House Committee on Ways and Means.
Sep 23, 1997
Introduced in House
Plain-English 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.
What's happening now
Sponsor introductory remarks on measure. (CR E1833)
Committees of jurisdiction
1