To provide relief from the alternative minimum tax with respect to incentive stock options exercised during 2000. (Introduced in the House)

 HR 2794 IH

                                                       107th CONGRESS

                                                          1st Session

                                                          H. R. 2794

To provide relief from the alternative minimum tax with respect to incentive stock options exercised during 2000.

                                            IN THE HOUSE OF REPRESENTATIVES

                                                       August 2, 2001

Mr. NEAL of Massachusetts (for himself, Mr. TOM DAVIS of Virginia, Ms. LOFGREN, Mr. WELLER, Mr. MATSUI, Ms. DUNN of Washington, Mr. DOGGETT, Mr. WOLF, Ms. HARMAN, Mr. CANNON, Mr. FRANK, Mr. CANTOR, Mr. MORAN of Virginia, Mr. POMEROY, Ms. ESHOO, Mr. OSE, and Mr. MCGOVERN) introduced the following bill; which was referred to the Committee on Ways and Means

                                                           A BILL

To provide relief from the alternative minimum tax with respect to incentive stock options exercised during 2000.

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

SECTION 1. ALTERNATIVE MINIMUM TAX RELIEF WITH RESPECT TO INCENTIVE STOCK OPTIONS EXERCISED DURING 2000.

    In the case of an incentive stock option (as defined in section 422 of the Internal Revenue Code of 1986) exercised during calendar year 2000, the amount taken into account under section 56(b)(3) of such Code by reason of such exercise shall not exceed the amount that would have been taken into account if, on the date of such exercise, the fair market value of the stock acquired pursuant to such option had been its fair market value as of April 15, 2001 (or, if such stock is sold or exchanged on or before such date, the amount realized on such sale or exchange).

To provide relief from the alternative minimum tax with respect to incentive stock options exercised during 2000. (Introduced in the Senate)

S 1324 IS

                                                       107th CONGRESS

                                                          1st Session

                                                           S. 1324

To provide relief from the alternative minimum tax with respect to incentive stock options exercised during 2000.

                                           IN THE SENATE OF THE UNITED STATES

                                                       August 2, 2001

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

                                                           A BILL

To provide relief from the alternative minimum tax with respect to incentive stock options exercised during 2000.

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

SECTION 1. ALTERNATIVE MINIMUM TAX RELIEF WITH RESPECT TO INCENTIVE STOCK OPTIONS EXERCISED DURING 2000.

    In the case of an incentive stock option (as defined in section 422 of the Internal Revenue Code of 1986) exercised during calendar year 2000, the  amount taken into account under section 56(b)(3) of such Code by reason of such exercise shall not exceed the amount that would have been taken into account if, on the date of such exercise, the fair market value of the stock acquired pursuant to such option had been its fair market value as of April 15, 2001 (or, if such stock is sold or exchanged on or before such date, the amount realized on such sale or exchange).