H.R. 3861, The AMT Credit Fairness and Relief Act of 2007
- This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.
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H.R. 3861 would amend the Internal Revenue Code of 1986 to increase the AMT refundable credit amount for individuals with long-term unused credits for prior year minimum tax liability.
AMT Credit Fairness and Relief Act of 2007 - Amends the Internal Revenue Code to: (1) increase the alternative minimum tax (AMT) refundable credit amount for individuals who have long-term unused minimum tax credits from prior taxable years; and (2) abate any underpayment of tax attributable to the application of special AMT rules for the treatment of incentive stock options.
Status of the Legislation
Latest Major Action: 10/16/2007: Referred to House committee. Status: Referred to the House Committee on Ways and Means.
Points in Favor
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