S. 616 — Real AMT Relief Act of 2001

Summary

Real AMT Relief Act of 2001 - Amends the Internal Revenue Code to provide for a graduated phaseout of the alternative minimum tax (AMT) on individuals (such tax to be eliminated for individuals as of 2005). Provides for coordination with: (1) income averaging for farmers; and (2) the child care credit.

Increases the gross receipts test, including the first three-year period, for the small corporation AMT exemption.

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Legislative Actions

2001-03-26
Introduced in Senate
2001-03-26
Sponsor introductory remarks on measure. (CR S2899)
2001-03-26
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S2899-2900)

Real AMT Relief Act of 2001

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Summary

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