,i #aae? ,,congress #a/ ,session ,h4 ,r4 #dafa ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,octob] #bg1 #bjag,mr4 ,got!im] 7= himself & ,mr4 ,lance7 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,ways & ,means ,a ,,bill ,to am5d ! ,int]nal ,rev5ue ,code ( #aihf to provide = paym5ts to resid5ts ( ,/ates = :i* ! ,f$]al tax burd5 exce$s ! ,f$]al outlays receiv$4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,return on ,inve/m5t ,acc\ntability ,act4 #b4 ,payor ,/ate cr$it am\nt = individuals 7a7 ,9 g5]al ,sub*apt] ,b ( *apt] #fe ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by ins]t+ aft] section #fdbg ! foll[+ new section3 #fdbh4 ,payor ,/ate cr$it am\nt = individuals 7a7 ,9 g5]al ,!re %all be all[$ to ! taxpay] ) respect to ea* eligible individual z a cr$it aga9/ ! tax impos$ by subtitle ,a = a taxable ye> an am\nt equal to ! individual payor ,/ate am\nt4 7b7 ,individual payor ,/ate am\nt ,= purposes ( ?is section-- 7#a7 ,9 g5]al ,! t]m individual payor ,/ate am\nt means ! am\nt t is ! same proportion ( ! payor ,/ate am\nt z ! ratio t "o be>s to all eligible individuals ( ! ,/ate = ! cal5d> ye> prec$+ ! cal5d> ye> 9 :i* ! taxable ye> beg9s4 7#b7 ,payor ,/ate am\nt ,! t]m payor ,/ate am\nt means ! am\nt equal to ! excess 7if any7 (-- 7,a7 ! ,f$]al tax burd5 ( ! ,/ate = ! cal5d> ye> prec$+ ! cal5d> ye> 9 :i* ! taxable ye> beg9s1 ov] 7,b7 ! ,f$]al outlays receiv$ by ! ,/ate = su* prec$+ cal5d> ye> = ! cal5d> ye> prec$+ ! cal5d> ye> 9 :i* ! taxable ye> beg9s4 7#c7 ,f$]al tax burd5 & ,f$]al outlays 7,a7 ,9 g5]al ,! ,secret>y %all calculate ! ,f$]al tax burd5 ( ea* ,/ate = ea* cal5d> ye> & ! ,f$]al outlays receiv$ by ! ,/ate = ! cal5d> ye>4 7,b7 ,f$]al tax burd5 ,= purposes ( subp>agraph 7,a71 ! ,secret>y %all-- 7i7 treat all ,f$]al taxes paid by eligible individuals z a burd5 on ! ,/ate 9 :i* su* individual resides2 & 7ii7 treat all ,f$]al taxes paid by a legal bus9ess entity z a burd5 on ! ,/ate 9 :i* economic activity ( su* entity is p]=m$ 9 ! same proportion t ! economic activity ( su* entity 9 su* ,/ate be>s to ! economic activity ( su* entity 9 all ! ,/ates4 7,c7 ,f$]al outlays ,= purposes ( subp>agraph 7,a71 a ,f$]al contract aw>d %all be treat$ z a ,f$]al outlay receiv$ by ea* ,/ate 9 :i* p]=mance "u ! aw>d takes place 9 ! same proportion t su* p]=mance 9 su* ,/ate be>s to su* p]=mance 9 all ! ,/ates4 7#d7 ,eligible individual 7,a7 ,9 g5]al ,! t]m eligible individual means any individual :o is-- 7i7 ! taxpay]1 ! sp\se ( ! taxpay]1 or a dep5d5t ( ! taxpay]1 7ii7 a citiz5 ( ! ,unit$ ,/ates or lawfully pres5t 9 ! ,unit$ ,/ates1 & 7iii7 a resid5t ( ! payor ,/ate = m ?an half ( ! taxable ye>4 7,b7 ,exception ,! t]m eligible individual does n include-- 7i7 any individual ) respect to :om a d$uction "u section #aea is all[able to ano!r taxpay] = a taxable ye> beg9n+ 9 ! cal5d> ye> 9 :i* ! individual's taxable ye> beg9s1 or 7ii7 an e/ate or tru/4 7c7 ,treatm5t ( cr$it ,! cr$it all[$ by subsection 7a7 %all be treat$ z all[$ by subp>t ,c ( "p ,,iv ( sub*apt] ,a ( *apt] #a4 7d7 ,coord9ation ) advance refunds ( cr$it 7#a7 ,9 g5]al ,! am\nt ( cr$it :i* w\ld 7b = ?is p>agraph7 be all[able "u ?is section %all be r$uc$ 7b n bel[ z]o7 by ! aggregate refunds & cr$its made or all[$ to ! taxpay] "u subsection 7e74 ,any failure to s r$uce ! cr$it %all be treat$ z aris+ out ( a ma!matical or cl]ical error & assess$ accord+ to section #fbac7;b77#a74 7#b7 ,jo9t returns ,9 ! case ( a refund or cr$it made or all[$ "u subsection 7e7 ) respect to a jo9t return1 half ( su* refund or cr$it %all be treat$ z hav+ be5 made or all[$ to ea* individual fil+ su* return4 7e7 ,advance refunds & cr$its 7#a7 ,9 g5]al ,ea* individual :o 0 an eligible individual = a cal5d> ye> %all be treat$ z hav+ made a paym5t aga9/ ! tax impos$ by *apt] #a = su* fir/ taxable ye> 9 an am\nt equal to ! advance refund am\nt = su* taxable ye>4 7#b7 ,advance refund am\nt ,= purposes ( p>agraph 7#a71 ! advance refund am\nt is ! am\nt t w\ld h be5 all[$ z a cr$it "u ?is section = ! taxable ye> 9 :i* ! cal5d> ye> beg9s 7o!r ?an subsection 7d7 & ?is subsection7 _h appli$ to su* taxable ye>4 7#c7 ,no int]e/ ,no int]e/ %all be all[$ on any ov]paym5t attributable to ?is section4 7f7 ,id5tification numb] requirem5t 7#a7 ,9 g5]al ,no cr$it %all be all[$ "u subsection 7a7 to an eligible individual :o does n include on ! return ( tax = ! taxable ye>-- 7,a7 su* individual's valid id5tification numb]1 & 7,b7 9 ! case ( a jo9t return1 ! valid id5tification numb] ( su* individual's sp\se4 7#b7 ,valid id5tification numb] ,= purposes ( p>agraph 7#a71 ! t]m valid id5tification numb] means a social security numb] issu$ to an individual by ! ,social ,security ,adm9i/ration4 ,su* t]m %all n include a ,,t9 issu$ by ! ,int]nal ,rev5ue ,s]vice4 4 7b7 ,adm9i/rative am5dm5ts 7#a7 ,def9ition ( defici5cy ,section #fbaa7;b77#d77;,a7 ( su* ,code is am5d$ by ins]t+ #fdbh1 aft] #afh7k77#d714 7#b7 ,ma!matical or cl]ical error au?ority ,section #fbac7;g77#b7 ( su* ,code is am5d$ by /rik+ & at ! end ( subp>agraph 7,p71 by /rik+ ! p]iod at ! end ( subp>agraph 7,r7 & ins]t+ 1 &1 & by ins]t+ aft] subp>agraph 7,r7 ! foll[+3 7,s7 an omission ( in=mation requir$ "u section #fdbh7;f7 to be includ$ on a return4 4 7c7 ,con=m+ am5dm5ts 7#a7 ,p>agraph 7#b7 ( section #acbd7;b7 ( title #ca1 ,unit$ ,/ates ,code1 is am5d$ by ins]t+ #fdbh1 be=e or #fdca4 7#b7 ,! table ( sections = sub*apt] ,b ( *apt] #fe ( su* ,code is am5d$ by ins]t+ aft] ! item relat+ to section #fdbg ! foll[+ new item3 ,sec4 #fdbh4 ,payor ,/ate cr$it am\nt = individuals4 4 7d7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] "o ye> aft] ! date ( ! enactm5t ( ?is ,act4