[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[S. 1142 Introduced in Senate (IS)]







107th CONGRESS
  1st Session
                                S. 1142

 To amend the Internal Revenue Code of 1986 to repeal the minimum tax 
         preference for exclusion for incentive stock options.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             June 29, 2001

 Mr. Lieberman introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to repeal the minimum tax 
         preference for exclusion for incentive stock options.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Entrepreneurs Risk Incentive Act of 
2001''.

SEC. 2. REPEAL OF MINIMUM TAX PREFERENCE FOR EXCLUSION FOR 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 this section shall apply 
to options exercised in calendar years beginning after the date of the 
enactment of this Act.
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