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

SEC. 302. ALLOWANCE OF NONREFUNDABLE PERSONAL CREDITS AGAINST REGULAR AND ALTERNATIVE MINIMUM TAX LIABILITY. (a) In General.—Paragraph (2) of section 26(a) is amended—(1) by striking “2005” in the heading thereof and inserting “2006”, and (2) by striking “or 2005” and inserting “2005, or 2006”. (b) Effective Date.—The amendments made by this section shall apply to taxable years beginning after December 31, 2005.