[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4279 Introduced in House (IH)]







105th CONGRESS
  2d Session
                                H. R. 4279

To amend the Internal Revenue Code of 1986 to repeal the application of 
  the alternative minimum tax to the transfer of stock pursuant to an 
                        incentive stock option.


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                    IN THE HOUSE OF REPRESENTATIVES

                             July 20, 1998

 Mr. Sherman introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
To amend the Internal Revenue Code of 1986 to repeal the application of 
  the alternative minimum tax to the transfer of stock pursuant to an 
                        incentive stock option.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. REPEAL OF APPLICATION OF ALTERNATIVE MINIMUM TAX TO STOCK 
              TRANSFERRED PURSUANT TO INCENTIVE STOCK OPTIONS.

    (a) In General.--Subsection (b) of section 56 of the Internal 
Revenue Code of 1986 (relating to adjustments in computing alternative 
minimum taxable income) is amended by striking paragraph (3).
    (b) Effective Date.--The amendment made by subsection (a) shall 
apply with respect to options exercised after December 31, 1999.
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