[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2327 Introduced in House (IH)]







107th CONGRESS
  1st Session
                                H. R. 2327

 To repeal the sunset of the provisions of the Economic Growth and Tax 
                   Relief Reconciliation Act of 2001.


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                    IN THE HOUSE OF REPRESENTATIVES

                             June 27, 2001

    Mr. Ryan of Wisconsin (for himself, Mr. Souder, Mr. Toomey, Mr. 
  Hostettler, Mr. Largent, Mr. Bartlett of Maryland, Mr. Cantor, Mr. 
    Schaffer, Mr. Istook, Mr. Akin, Mr. Shadegg, and Mr. Aderholt) 
 introduced the following bill; which was referred to the Committee on 
                             Ways and Means

_______________________________________________________________________

                                 A BILL


 
 To repeal the sunset of the provisions of the Economic Growth and Tax 
                   Relief Reconciliation Act of 2001.

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

SECTION 1. REPEAL OF SUNSET OF ECONOMIC GROWTH AND TAX RELIEF 
              RECONCILIATION ACT OF 2001.

    (a) In General.--Title IX of the Economic Growth and Tax Relief 
Reconciliation Act of 2001 (Public Law 107-16) is hereby repealed.
    (b) Increase in Alternative Minimum Tax Exemption Made Permanent.--
            (1) In general.--
                    (A) Subparagraph (A) of section 55(d)(1) of the 
                Internal Revenue Code of 1986 (relating to exemption 
                amount for taxpayers other than corporations) is 
                amended by striking ``$45,000 ($49,000 in the case of 
                taxable years beginning in 2001, 2002, 2003, and 
                2004)'' and inserting ``$49,000''.
                    (B) Subparagraph (B) of section 55(d)(1) of such 
                Code (relating to exemption amount for taxpayers other 
                than corporations) is amended by striking ``$33,750 
                ($35,750 in the case of taxable years beginning in 
                2001, 2002, 2003, and 2004)'' and inserting 
                ``$35,750''.
            (2) Effective date.--The amendments made by paragraph (1) 
        shall take effect as if included in section 701 of the Economic 
        Growth and Tax Relief Reconciliation Act of 2001.
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