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• This item is from the 110th Congress (2007-2008) and is no longer current.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.

Version saved on January 11, 2008, 01:39:34, by webmaster:

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.

Detailed Summary

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

(Log in to edit the wiki and be the first to show why the bill should pass!)

Points Against

(Log in to edit the wiki and be the first to show why the bill should not pass!)

« Return to Revision History.