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Bill would provide retroactive tax relief.(Knight Ridder Newspapers)

Knight Ridder/Tribune News Service

| August 01, 2001 | Schwanhausser, Mark | COPYRIGHT 2001 Knight-Ridder/Tribune News Service. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

SAN JOSE, Calif. _ A bipartisan group of representatives from four states will introduce a bill in the House of Representatives on Thursday that would provide retroactive relief to stock optionees who have been devastated by Alternative Minimum Tax bills.

The bill's authors include Republican Jerry Weller of Illinois and three Democrats: Zoe Lofgren of California, Jim Davis of Florida, and Richard E. Neal of Massachusetts.

Thousands of high-tech workers triggered huge AMT bills last April because they exercised incentive stock options and held their stock into 2001 in order to qualify for a long-term capital gains break. The AMT is based on the ...

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Source: HighBeam Research, Bill would provide retroactive tax relief.(Knight Ridder Newspapers)