[Congressional Bills 106th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2936 Introduced in House (IH)]







106th CONGRESS
  1st Session
                                H. R. 2936

To extend the temporary waiver 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, 1999

 Mr. Neal of Massachusetts (for himself, Mr. Houghton, Mr. Rangel, Mr. 
  Coyne, Mrs. Johnson of Connecticut, and Mr. Matsui) introduced the 
 following bill; which was referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
To extend the temporary waiver 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.

    (a) In General.--The last sentence of section 26(a) of the Internal 
Revenue Code of 1986 (relating to limitation based on tax liability) is 
amended by inserting ``or 1999'' after ``1998''.
    (b) Child Tax Credit.--Paragraph (2) of section 24(d) of such Code 
(relating to additional credit for families with 3 or more children) is 
amended by striking ``December 31, 1998'' and inserting ``December 31, 
1999''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 1998.
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