Page:United States Statutes at Large Volume 119.djvu/2632

 119 STAT. 2614 26 USC 25B.

VerDate 14-DEC-2004

07:21 Oct 30, 2006

PUBLIC LAW 109–135—DEC. 21, 2005

(D) The matter preceding paragraph (1) of section 25B(g) is amended by striking ‘‘The credit’’ and inserting ‘‘In the case of a taxable year to which section 26(a)(2) does not apply, the credit’’. (E) Subsection (c) of section 25D is amended to read as follows: ‘‘(c) CARRYFORWARD OF UNUSED CREDIT.— ‘‘(1) RULE FOR YEARS IN WHICH ALL PERSONAL CREDITS ALLOWED AGAINST REGULAR AND ALTERNATIVE MINIMUM TAX.— In the case of a taxable year to which section 26(a)(2) applies, if the credit allowable under subsection (a) exceeds the limitation imposed by section 26(a)(2) for such taxable year reduced by the sum of the credits allowable under this subpart (other than this section), such excess shall be carried to the succeeding taxable year and added to the credit allowable under subsection (a) for such succeeding taxable year. ‘‘(2) RULE FOR OTHER YEARS.—In the case of a taxable year to which section 26(a)(2) does not apply, if the credit allowable under subsection (a) exceeds the limitation imposed by section 26(a)(1) for such taxable year reduced by the sum of the credits allowable under this subpart (other than this section and sections 23, 24, and 25B), such excess shall be carried to the succeeding taxable year and added to the credit allowable under subsection (a) for such succeeding taxable year.’’. (F) Subsection (d) of section 1400C is amended to read as follows: ‘‘(d) CARRYFORWARD OF UNUSED CREDIT.— ‘‘(1) RULE FOR YEARS IN WHICH ALL PERSONAL CREDITS ALLOWED AGAINST REGULAR AND ALTERNATIVE MINIMUM TAX.— In the case of a taxable year to which section 26(a)(2) applies, if the credit allowable under subsection (a) exceeds the limitation imposed by section 26(a)(2) for such taxable year reduced by the sum of the credits allowable under subpart A of part IV of subchapter A (other than this section and section 25D), such excess shall be carried to the succeeding taxable year and added to the credit allowable under subsection (a) for such taxable year. ‘‘(2) RULE FOR OTHER YEARS.—In the case of a taxable year to which section 26(a)(2) does not apply, if the credit allowable under subsection (a) exceeds the limitation imposed by section 26(a)(1) for such taxable year reduced by the sum of the credits allowable under subpart A of part IV of subchapter A (other than this section and sections 23, 24, 25B, and 25D), such excess shall be carried to the succeeding taxable year and added to the credit allowable under subsection (a) for such taxable year.’’. (G) Subsection (i) of section 904 is amended to read as follows: WITH NONREFUNDABLE PERSONAL ‘‘(i) COORDINATION CREDITS.—In the case of any taxable year of an individual to which section 26(a)(2) does not apply, for purposes of subsection (a), the tax against which the credit is taken is such tax reduced by the sum of the credits allowable under subpart A of part IV of subchapter A of this chapter (other than sections 23, 24, and 25B).’’.

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