[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2794 Introduced in House (IH)]







107th CONGRESS
  1st Session
                                H. R. 2794

  To provide relief from the alternative minimum tax with respect to 
             incentive stock options exercised during 2000.


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                    IN THE HOUSE OF REPRESENTATIVES

                             August 2, 2001

Mr. Neal of Massachusetts (for himself, Mr. Tom Davis of Virginia, Ms. 
 Lofgren, Mr. Weller, Mr. Matsui, Ms. Dunn of Washington, Mr. Doggett, 
 Mr. Wolf, Ms. Harman, Mr. Cannon, Mr. Frank, Mr. Cantor, Mr. Moran of 
Virginia, Mr. Pomeroy, Ms. Eshoo, Mr. Ose, and Mr. McGovern) introduced 
  the following bill; which was referred to the Committee on Ways and 
                                 Means

_______________________________________________________________________

                                 A BILL


 
  To provide relief from the alternative minimum tax with respect to 
             incentive stock options exercised during 2000.

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

SECTION 1. ALTERNATIVE MINIMUM TAX RELIEF WITH RESPECT TO INCENTIVE 
              STOCK OPTIONS EXERCISED DURING 2000.

    In the case of an incentive stock option (as defined in section 422 
of the Internal Revenue Code of 1986) exercised during calendar year 
2000, the amount taken into account under section 56(b)(3) of such Code 
by reason of such exercise shall not exceed the amount that would have 
been taken into account if, on the date of such exercise, the fair 
market value of the stock acquired pursuant to such option had been its 
fair market value as of April 15, 2001 (or, if such stock is sold or 
exchanged on or before such date, the amount realized on such sale or 
exchange).
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