Common Sense Family Tax Relief Act of 1999

[AI summary unavailable — showing source text] Common Sense Family Tax Relief Act of 1999 - Title I: Tax Relief for Families - Amends the Internal Revenue Code to make the basic standard deduction on a joint return twice that of the deduction on a single return. (Sec. 102) Revises the dependent care tax credit to: (1) amend applicable credit percentages; (2) provide an inflation adjustment; (3) allow a minimum credit for stay at-home parents with a dependent under one year old; and (4) permit a residency-based test rather than a household maintenance-based test under certain circumstances. (Sec. 103) Allows a tax credit for employers who provide qualified day care centers for their employees. (Sec. 104) Reduces individual capital gain tax rates. (Sec. 105) Applies capital gain tax rates to capital gains of designated settlement funds. Title II: Tax Relief for Businesses - Amends the Code to make the research credit permanent. (Sec. 202 ) Eliminates the limitation on the estate tax deduction for family-owned business interests. Title III: Educational Opportunities - Amends the Code to eliminate the 60-month limit on student loan interest deductibility. (Sec. 302) Establishes an employer tax credit for information technology trai…