[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4611 Introduced in House (IH)]

  2d Session
                                H. R. 4611

To provide a temporary waiver for taxable year 1998 of the minimum tax 
    rules that deny many families the full benefit of nonrefundable 
personal credits, pending enactment of permanent legislation to address 
                             this inequity.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 23, 1998

 Mr. Neal of Massachusetts (for himself, Mr. Matsui, Mrs. Kennelly of 
    Connecticut, Mr. Coyne, Mr. Stark, Mr. McDermott, Mr. Frank of 
 Massachusetts, and Mr. Paul) introduced the following bill; which was 
              referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
To provide a temporary waiver for taxable year 1998 of the minimum tax 
    rules that deny many families the full benefit of nonrefundable 
personal credits, pending enactment of permanent legislation to address 
                             this inequity.

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

SECTION 1. NONREFUNDABLE PERSONAL CREDITS FULLY ALLOWED AGAINST REGULAR 
              TAX LIABILITY.

    In the case of any taxable year beginning during 1998--
            (1) for purposes of applying section 26(a) of the Internal 
        Revenue Code of 1986 (relating to limitation based on tax 
        liability), the tentative minimum tax shall be treated as being 
        zero, and
            (2) section 24(d)(2) of such Code shall not apply.
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