PUBLIC LAW 110–166—DEC. 26, 2007
121 STAT. 2461
Public Law 110–166 110th Congress An Act To amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes.
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 ‘‘Tax Increase Prevention Act of 2007’’.
Dec. 26, 2007 [H.R. 3996] Tax Increase Prevention Act of 2007. 26 USC 1 note.
SEC. 2. EXTENSION OF INCREASED ALTERNATIVE MINIMUM TAX EXEMPTION AMOUNT.
(a) IN GENERAL.—Paragraph (1) of section 55(d) of the Internal Revenue Code of 1986 (relating to exemption amount) is amended— (1) by striking ‘‘($62,550 in the case of taxable years beginning in 2006)’’ in subparagraph (A) and inserting ‘‘($66,250 in the case of taxable years beginning in 2007)’’, and (2) by striking ‘‘($42,500 in the case of taxable years beginning in 2006)’’ in subparagraph (B) and inserting ‘‘($44,350 in the case of taxable years beginning in 2007)’’. (b) EFFECTIVE DATE.—The amendments made by this section shall apply to taxable years beginning after December 31, 2006.
26 USC 55.
26 USC 55 note.
SEC. 3. EXTENSION OF ALTERNATIVE MINIMUM TAX RELIEF FOR NONREFUNDABLE PERSONAL CREDITS.
(a) IN GENERAL.—Paragraph (2) of section 26(a) of the Internal Revenue Code of 1986 (relating to special rule for taxable years 2000 through 2006) is amended— (1) by striking ‘‘or 2006’’ and inserting ‘‘2006, or 2007’’, and (2) by striking ‘‘2006’’ in the heading thereof and inserting ‘‘2007’’. (b) EFFECTIVE DATE.—The amendments made by this section shall apply to taxable years beginning after December 31, 2006.
26 USC 26 note.
Approved December 26, 2007.
dkrause on GSDDPC44 with PUBLAW
LEGISLATIVE HISTORY—H.R. 3996: HOUSE REPORTS: No. 110–431 (Comm. on Ways and Means). CONGRESSIONAL RECORD, Vol. 153 (2007): Nov. 9, considered and passed House. Dec. 6, considered and passed Senate, amended. Dec. 19, House concurred in Senate amendment.
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