,,ii  #aad? ,,congress  #a/ ,session    
,s4 #bbfd  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,novemb] #aj1 #bjae    
,mr4 ,b5net introduc$ ! foll[+ bill2 :i*
 0 read twice & ref]r$ to ! ,committee  
on ,f9ance  ,a ,,bill  ,to am5d !       
,int]nal ,rev5ue ,code ( #aihf to /r5g!n
 ! *ild tax cr$it4  #a4 ,%ort title ,?is
 ,act may be cit$ z ! ,*ild ,tax ,cr$it 
,improvem5t ,act4  #b4 ,expansion ( !   
*ild tax cr$it  7a7 ,increase 9 am\nt ( 
cr$it = "y *ildr5 ,subsection 7a7 (     
section #bd ( ! ,int]nal ,rev5ue ,code (
 #aihf is am5d$ to read z foll[s3  7a7  
,all[ance ( cr$it ,!re %all be all[$ z a
 cr$it aga9/ ! tax impos$ by ?is *apt] =
 ! taxable ye> an am\nt equal to ! sum  
(--  7#a7 ) respect to ea* qualify+ *ild
 ( ! taxpay] :o has atta9$ #f ye>s ( age
 by ! close ( ! taxable ye> & = :i* !   
taxpay] is all[$ a d$uction "u section  
#aea1 #a1jjj1 &  7#b7 ) respect to ea*  
qualify+ *ild ( ! taxpay] :o has n      
atta9$ #f ye>s ( age by ! close ( !     
taxable ye> & = :i* ! taxpay] is all[$ a

 d$uction "u section #aea1 an am\nt     
equal to ?ree times ! doll> am\nt       
applicable "u p>agraph 7#a74  4  7b7    
,modification ( limitations ,p>agraph   
7#a7 ( section #bd7;b7 ( ! ,int]nal     
,rev5ue ,code ( #aihf is am5d$ to read z
 foll[s3  7#a7 ,limitation bas$ on      
adju/$ gross income  7,a7 ,9 g5]al  7i7 
,limitation on cr$it = qualify+ *ildr5  
:o h n atta9$ #f ye>s ( age ,! am\nt ( !
 cr$it all[able "u subsection 7a77#b7   
%all be r$uc$ 7b n bel[ z]o7 by #aej =  
ea* #a1jjj 7or fraction !re(7 by :i* !  
taxpay]'s modifi$ adju/$ gross income   
exce$s ! ?re%old am\nt4  7ii7           
,limitation on cr$it = qualify+ *ildr5  
:o h atta9$ #f ye>s ( age ,! am\nt ( !  
cr$it all[able "u subsection 7a77#a7    
%all be r$uc$ 7b n bel[ z]o7 by #ej =   
ea* #a1jjj 7or fraction !re(7 by :i* !  
taxpay]'s modifi$ adju/$ gross income   
exce$s--  7,i7 9 ! case ( a taxpay] =   
:i* no cr$it is all[able "u subsection  
7a77#b71 ! ?re%old am\nt1 or  7,,ii7 9 !
 case ( a taxpay] = :i* a cr$it is      

all[able "u subsection 7a77#b71 ! doll> 
am\nt ( ! modifi$ adju/$ gross income ( 
! taxpay] at :i* ! cr$it all[able "u    
subsection 7a77#b7 is r$uc$ to z]o4     
7,b7 ,def9ition ,= purposes ( ?is       
p>agraph1 ! t]m modifi$ adju/$ gross    
income means adju/$ gross income        
increas$ by any am\nt exclud$ f gross   
income "u section #iaa1 #ica1 or #icc4  
4  7c7 ,increase 9 refundable portion   
7#a7 ,9 g5]al ,clause 7i7 ( section     
#bd7;d77#a77;,b7 ( ! ,int]nal ,rev5ue   
,code ( #aihf is am5d$ to read z foll[s3
  7i7 an am\nt equal to-- 7,i7 9 ! case 
( a taxpay] = :i* a cr$it is all[able "u
 subsection 7a77#b71 #de p]c5t ( !      
taxpay]'s e>n$ income 7)9 ! mean+ (     
section #cb7 :i* is tak5 into acc\nt 9  
comput+ taxable income = ! taxable ye>1 
or  7,,ii7 9 ! case ( a taxpay] = :i* a 
cr$it is all[able "u subsection 7a77#a7 
& = :i* no cr$it is all[able "u         
subsection 7a77#b71 #ae p]c5t ( !       
taxpay]'s e>n$ income 7)9 ! mean+ (     
section #cb7 :i* is tak5 into acc\nt 9  

comput+ taxable income = ! taxable ye>1 
or  4  7#b7 ,con=m+ am5dm5t ,subsection 
7d7 ( section #bd ( su* ,code is am5d$  
by /rik+ p>agraph 7#d74  7#c7           
,elim9ation ( inflation adju/m5t        
,subsection 7d7 ( section #bd ( su*     
,code is am5d$ by /rik+ p>agraph 7#c74  
7d7 ,inflation adju/m5ts ,section #bd ( 
! ,int]nal ,rev5ue ,code ( #aihf is     
am5d$ by add+ at ! end ! foll[+ new     
subsection3  7g7 ,inflation adju/m5ts   
7#a7 ,9 g5]al ,9 ! case ( any taxable   
ye> beg9n+ 9 a cal5d> ye> aft] #bjae1 ! 
#a1jjj am\nt 9 subsection 7a77#a7 %all  
be increas$ by an am\nt equal to--  7,a7
 su* doll> am\nt1 multipli$ by  7,b7 !  
co/-(-liv+ adju/m5t det]m9$ "u section  
#a7;f77#c7 = ! cal5d> ye> 9 :i* !       
taxable ye> beg9s1 det]m9$ by sub/itut+ 
cal5d> ye> #bjad = cal5d> ye> #aiib 9   
subp>agraph 7,b7 !re(4  7#b7 ,r\nd+ ,any
 increase det]m9$ "u ! prec$+ s5t5ce    
%all be r\nd$ to ! ne>e/ multiple ( #ej4
  4  7e7 ,effective date ,! am5dm5ts    
made by ?is section %all apply to       

taxable ye>s beg9n+ aft] ,decemb] #ca1  
#bjae4