NONREFUNDABLE PERSONAL CREDITS FULLY ALLOWED AGAINST REGULAR TAX LIABILITY DURING 1998.

SEC. 2001. NONREFUNDABLE PERSONAL CREDITS FULLY ALLOWED AGAINST REGULAR TAX LIABILITY DURING 1998. (a) In General.—Subsection (a) of section 26 is amended by adding at the end the following flush sentence: “For purposes of paragraph (2), the taxpayer’s tentative minimum tax for any taxable year beginning during 1998 shall be treated as being zero.” (b) Conforming Amendment.—Section 24(d)(2) is amended by striking “The credit” and inserting “For taxable years beginning after December 31, 1998, the credit”. (c) Effective Date.—The amendments made by this section shall apply to taxable years beginning after December 31, 1997.