,,ii  #aae? ,,congress  #a/ ,session    
,s4 #bjah  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,octob] #bf1 #bjag,mr4 
,b5net 7= himself & ,mr4 ,br[n7         
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,f9ance  ,a ,,bill  ,to am5d ! ,int]nal 
,rev5ue ,code ( #aihf to make ! *ild tax
 cr$it fully refundable1 e/abli% an     
increas$ *ild tax cr$it = "y *ildr51 & =
 o!r purposes4  #a4 ,%ort title ,?is    
,act may be cit$ z ! ,am]ican ,family   
,act ( #bjag4  #b4 ,e/abli%m5t ( fully  
refundable *ild tax cr$it  7a7          
,elim9ation ( exi/+ *ild tax cr$it      
,subp>t ,a ( "p ,,iv ( sub*apt] ,a (    
*apt] #a ( subtitle ,a ( ! ,int]nal     
,rev5ue ,code ( #aihf is am5d$ by /rik+ 
section #bd4  7b7 ,e/abli%m5t ( fully   
refundable *ild tax cr$it ,subp>t ,c (  
"p ,,iv ( sub*apt] ,a ( *apt] #a (      
subtitle ,a ( su* ,code is am5d$ by     
ins]t+ aft] section #cf;,b ! foll[+ new 
section3  #cf;,c4 ,*ild tax cr$it  7a7  
,all[ance ( cr$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
 be=e ! close ( su* taxable ye> & = :i* 
! taxpay] is all[$ a d$uction "u section
 #aea1 an am\nt equal to #c1jjj1 &  7#b7
 ) respect to ea* qualify+ *ild ( !     
taxpay] :o has n atta9$ #f ye>s ( age   
be=e ! close ( su* taxable ye> & = :i* !
 taxpay] is all[$ a d$uction "u section 
#aea1 an am\nt equal to #abj p]c5t ( !  
doll> am\nt 9 p>agraph 7#a74  7b7       
,limitation  7#a7 ,9 g5]al ,! am\nt ( ! 
cr$it all[able "u subsection 7a7 %all be
 r$uc$ 7b n bel[ z]o7 by ! applicable   
am\nt = ea* #a1jjj 7or fraction !re(7 by
 :i* ! taxpay]'s modifi$ adju/$ gross   
income exce$s ! ?re%old am\nt4 ,=       
purposes ( ! prec$+ s5t5ce1 ! 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  7#b7 ,?re%old am\nt     
7,a7 ,9 g5]al ,= purposes ( p>agraph    

7#a71 ! t]m ?re%old am\nt means-- 7i7   
#aaj1jjj 9 ! case ( a jo9t return1  7ii7
 #ge1jjj 9 ! case ( an individual :o is 
n m>ri$1 &  7iii7 #ee1jjj 9 ! case ( a  
m>ri$ individual fil+ a sep>ate return4 
7,b7 ,m>ital /atus ,= purposes ( ?is    
p>agraph1 m>ital /atus %all be det]m9$  
"u section #ggjc4  7#c7 ,applicable     
am\nt ,= purposes ( p>agraph 7#a71 ! t]m
 applicable am\nt means an am\nt equal  
to ! quoti5t (--  7,a7 ! am\nt ( ! cr$it
 all[able "u subsection 7a71 z det]m9$  
)\t reg>d to ?is subsection1 divid$ by  
7,b7 an am\nt equal to ! product (-- 7i7
 #bj1 multipli$ by  7ii7 ! total numb] (
 qualify+ *ildr5 ( ! taxpay]4  7c7      
,qualify+ *ild  7#a7 ,9 g5]al ,9 ?is    
section1 ! t]m qualify+ *ild means a    
qualify+ *ild ( ! taxpay] 7z def9$ 9    
section #aeb7;c77 :o has n atta9$ #ai   
ye>s ( age4  7#b7 ,exception = c]ta9    
non-citiz5s ,! t]m qualify+ *ild %all n 
include any individual :o w\ld n be a   
dep5d5t if subp>agraph 7,a7 ( section   
#aeb7;b77#c7 7 appli$ )\t reg>d to all t

 foll[s resid5t ( ! ,unit$ ,/ates4  7d7 
,inflation adju/m5t  7#a7 ,9 g5]al ,9 ! 
case ( any taxable ye> beg9n+ aft]      
#bjag1 ! #c1jjj 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> beg9s    
det]m9$ by sub/itut+ cal5d> ye> #bjaf = 
cal5d> ye> #aiib 9 subp>agraph 7,b7     
!re(4  7#b7 ,r\nd+ ,if any increase     
det]m9$ "u p>agraph 7#a7 is n a multiple
 ( #ej1 su* increase %all be r\nd$ to ! 
ne>e/ multiple ( #ej4  7e7              
,id5tification requirem5ts  7#a7        
,qualify+ *ild id5tification requirem5t 
,no cr$it %all be all[$ "u ?is section  
to a taxpay] ) respect to any qualify+  
*ild unless ! taxpay] includes ! "n &   
taxpay] id5tification numb] ( su*       
qualify+ *ild on ! return ( tax = !     
taxable ye> & su* taxpay] id5tification 
numb] 0 issu$ on or be=e ! due date =   
fil+ su* return4  7#b7 ,taxpay]         

id5tification requirem5t ,no cr$it %all 
be all[$ "u ?is section if ! id5tify+   
numb] ( ! taxpay] 0 issu$ aft] ! due    
date = fil+ ! return = ! taxable ye>4   
7f7 ,taxable ye> mu/ be full taxable ye>
 ,except 9 ! case ( a taxable ye> clos$ 
by reason ( ! dea? ( ! taxpay]1 no cr$it
 %all be all[able "u ?is section 9 !    
case ( a taxable ye> cov]+ a p]iod (    
less ?an #ab mon?s4  7g7 ,re/rictions on
 taxpay]s :o improp]ly claim$ cr$it 9   
prior ye>  7#a7 ,taxpay]s mak+ prior    
fraudul5t or reckless claims  7,a7 ,9   
g5]al ,no cr$it %all be all[$ "u ?is    
section = any taxable ye> 9 !           
disall[ance p]iod4  7,b7 ,disall[ance   
p]iod ,= purposes ( subp>agraph 7,a71 ! 
disall[ance p]iod is--  7i7 ! p]iod (   
#aj taxable ye>s aft] ! mo/ rec5t       
taxable ye> = :i* !re 0 a f9al          
det]m9ation t ! taxpay]'s claim ( cr$it 
"u ?is section 0 due to fraud1 &  7ii7 !
 p]iod ( #b taxable ye>s aft] ! mo/     
rec5t taxable ye> = :i* !re 0 a f9al    
det]m9ation t ! taxpay]'s claim ( cr$it 

"u ?is section 0 due to reckless or     
int5tional disreg>d ( rules &           
regulations 7b n due to fraud74  7#b7   
,taxpay]s mak+ improp] prior claims ,9 !
 case ( a taxpay] :o is d5i$ cr$it "u   
?is section = any taxable ye> z a result
 ( ! defici5cy proc$ures "u sub*apt] ,b 
( *apt] #fc1 no cr$it %all be all[$ "u  
?is section = any subsequ5t taxable ye> 
unless ! taxpay] provides su* in=mation 
z ! ,secret>y may require to demon/rate 
eligibility = su* cr$it4  7h7           
,reconciliation ( cr$it & advance cr$it 
7#a7 ,9 g5]al ,! am\nt ( ! cr$it all[$  
"u ?is section = any taxable ye> %all be
 r$uc$ 7b n bel[ z]o7 by ! aggregate    
am\nt ( any advance paym5ts ( su* cr$it 
"u section #gebg;,a = su* taxable ye>4  
7#b7 ,excess advance paym5ts ,if !      
aggregate am\nt ( advance paym5ts "u    
section #gebg;,a = ! taxable ye> exce$ !
 am\nt ( ! cr$it all[$ "u ?is section = 
su* taxable ye> 7det]m9$ )\t reg>d to   
p>agraph 7#a771 ! tax impos$ by ?is     
*apt] = su* taxable ye> %all be increas$

 by ! am\nt ( su* excess  4  7c7        
,advance paym5t ( cr$it ,*apt] #gg ( !  
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by ins]t+ aft] section #gebg ! foll[+   
new section3  #gebg;,a4 ,advance paym5t 
( *ild tax cr$it  7a7 ,9 g5]al ,z soon z
 practicable & n lat] ?an #a ye> aft] ! 
date ( ! enactm5t ( ?is section1 !      
,secret>y %all e/abli% a program = mak+ 
advance paym5ts ( ! cr$it all[$ "u      
section #cf;,c on a mon?ly basis        
7det]m9$ )\t reg>d to subsection 7h77#a7
 ( su* section71 or z frequ5tly z !     
,secret>y det]m9es to be adm9i/ratively 
feasible1 to taxpay]s all[$ su* cr$it4  
7b7 ,limitation  7#a7 ,9 g5]al ,!       
,secret>y may make paym5ts "u subsection
 7a7 only to ! ext5t t ! total am\nt (  
su* paym5ts made to any taxpay] dur+ !  
taxable ye> does n exce$ an am\nt equal 
to ! excess1 if any1 (--  7,a7 subject  
to p>agraph 7#b71 ! am\nt det]m9$ "u    
subsection 7a7 ( section #cf;,c )       
respect to su* taxpay] 7det]m9$ )\t     
reg>d to subsection 7h7 ( su* section7 =

 su* taxable ye>1 ov]  7,b7 ! e/imat$   
tax impos$ by subtitle ,a1 z r$uc$ by ! 
cr$its all[able "u subp>ts ,a & ,c 7) ! 
exception ( section #cf;,c7 ( su* "p    
,,iv1 ) respect to su* taxpay] = su*    
taxable ye>1 z det]m9$ 9 su* mann] z !  
,secret>y deems appropriate4  7#b7      
,application ( ?re%old am\nt limitation 
,! program describ$ 9 subsection 7a7    
%all make reasonable ef=ts to apply !   
limitation ( section #cf;,c7b7 ) respect
 to paym5ts made "u su* program4  4  7d7
 ,con=m+ am5dm5ts  7#a7 ,! table (      
sections = subp>t ,a ( "p ,,iv (        
sub*apt] ,a ( *apt] #a ( subtitle ,a ( !
 ,int]nal ,rev5ue ,code ( #aihf is am5d$
 by /rik+ ! item relat+ to section #bd4 
7#b7 ,! table ( sections = subp>t ,c (  
"p ,,iv ( sub*apt] ,a ( *apt] #a (      
subtitle ,a ( su* ,code is am5d$ by     
ins]t+ aft] ! item relat+ to section    
#cf;,b ! foll[+3 ,sec4 #cf;,c4 ,*ild tax
 cr$it44  7#c7 ,! table ( sections =    
*apt] #gg ( su* ,code is am5d$ by ins]t+
 aft] ! item relat+ to section #gebg !  

foll[+ new item3  ,sec4 #gebg;,a4       
,advance paym5t ( *ild tax cr$it4  4    
7#d7 ,subp>agraph 7,b7 ( section        
#de,r7f77#c7 ( su* ,code is am5d$ to    
read z foll[s3  7,b7 ,special rule ,any 
am\nts paid pursuant to an agreem5t "u  
section #caba7l7 7relat+ to agreem5ts   
ent]$ into by ,am]ican employ]s )       
respect to =eign affiliates7 :i* are    
equival5t to ! taxes ref]r$ to 9        
subp>agraph 7,a7 %all be treat$ z taxes 
ref]r$ to 9 su* subp>agraph4  4  7#e7   
,section #aeb7;f77#f77;,b77ii7 ( su*    
,code is am5d$ by /rik+ section #bd &   
ins]t+ section #cf;,c4  7#f7 ,p>agraph  
7#bf7 ( section #eja7;c7 ( su* ,code is 
am5d$ 9 ! flu% matt] at ! end by /rik+  
section #bd7;c77 & ins]t+ section       
#cf;,c7c77 :o has n atta9$ #ag ye>s (   
age4  7#g7 ,section #fbaa7;b77#d77;,a7 (
 su* ,code is am5d$-- 7,a7 by /rik+     
#bd7;d711 &  7,b7 by ins]t+ #cf;,c1 aft]
 #cf;,b14  7#h7 ,section #fbac7;g77#b7 (
 su* ,code is am5d$--  7,a7 9           
subp>agraph 7,i71 by /rik+ section      

#bd7;e7 & ins]t+ section #cf;,c7e71 &   
7,b7 9 subp>agraph 7,l71 by /rik+ #bd1  
or #cb & ins]t+ #cb1 or #cf;,c4  7#i7   
,p>agraph 7#b7 ( section #acbd7;b7 (    
title #ca1 ,unit$ ,/ates ,code1 is am5d$
 by ins]t+ #cf;,c1 aft] #cf;,b14  7e7   
,effective date ,! am5dm5ts made by ?is 
section %all apply to taxable ye>s      
beg9n+ aft] ,decemb] #ca1 #bjaf4