ALLOWANCE OF NONREFUNDABLE PERSONAL CREDITS AGAINST REGULAR AND MINIMUM TAX LIABILITY.

SEC. 601. ALLOWANCE OF NONREFUNDABLE PERSONAL CREDITS AGAINST REGULAR AND MINIMUM TAX LIABILITY. (a) In General.—Paragraph (2) of section 26(a) is amended— (1) by striking “rule for 2000 and 2001.—” and inserting “rule for 2000, 2001, 2002, and 2003.—”, and (2) by striking “during 2000 or 2001,” and inserting “during 2000, 2001, 2002, or 2003,” (b) Conforming Amendments.— (1) Section 904(h) is amended by striking “during 2000 or 2001” and inserting “during 2000, 2001, 2002, or 2003”. (2) The amendments made by sections 201(b), 202(f), and 618(b) of the Economic Growth and Tax Relief Reconciliation Act of 2001 shall not apply to taxable years beginning during 2002 and 2003. (c) Effective Date.—The amendments made by this section shall apply to taxable years beginning after December 31, 2001.