,,ii #aaf? ,,congress #b;d ,session ,s4 #dfci ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,septemb] #bb1 #bjbj,mr4 ,hawley introduc$ ! foll[+ bill2 :i* 0 read twice & ref]r$ to ! ,committee on ,f9ance ,a ,,bill ,to am5d ! ,int]nal ,rev5ue ,code ( #aihf to provide a refundable tax cr$it = exp5ses relat+ to s*ool disruption1 to provide a mon?ly paym5t to families dur+ ,,covid-#ai1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,help+ ,p>5ts ,dur+ ,,covid ,act ( #bjbj4 #b4 ,cr$it = co/s ( education 7a7 ,9 g5]al ,subp>t ,c ( "p ,,iv ( sub*apt] ,a ( *apt] #a ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by ins]t+ aft] section #cf ! foll[+ new section3 #cf;,a4 ,cr$it = co/s ( education 7a7 ,all[ance ( cr$it ,9 ! case ( an individual ) respect to :om !re is #a or m eligible *ildr5 = any taxable ye>1 !re %all be all[$ z a cr$it aga9/ ! tax impos$ by ?is subtitle = su* taxable ye> an am\nt equal to-- 7#a7 #hjj1 multipli$ by 7#b7 ! numb] ( eligible *ildr5 ) respect to ! individual4 7b7 ,limitation bas$ on adju/$ gross income ,! am\nt ( ! cr$it all[$ by subsection 7a7 7det]m9$ )\t reg>d to ?is subsection7 %all be r$uc$ 7b n bel[ z]o7 by #e p]c5t ( s mu* ( ! taxpay]'s adju/$ gross income z exce$s-- 7#a7 #aej1jjj 9 ! case ( a jo9t return1 7#b7 #aab1ejj 9 ! case ( a head ( h\sehold1 & 7#c7 #ge1jjj 9 ! case ( a taxpay] n describ$ 9 p>agraph 7#a7 or 7#b74 7c7 ,eligible *ild ,! t]m eligible *ild ) respect to an individual = a taxable ye> means a qualify+ *ild 7z def9$ 9 section #aeb7;c77 ( ! individual :o is an elem5t>y or second>y /ud5t 7includ+ k9d]g>t571 if ! s*ool di/rict 9 :i* su* *ild resides 0 clos$1 9 "p or 9 full1 or utiliz+ virtual1 di/ance1 or o!r alt]native education models or a hybrid ( su* models & 9-p]son att5dance1 dur+ any "p ( ! taxable ye> due to ,,covid-#ai4 7d7 ,t]m9ation ,?is section %all n apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjba4 4 7b7 ,cl]ical am5dm5t ,! table ( sections = subp>t ,c ( "p ,,iv ( sub*apt] ,a ( *apt] #a ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by ins]t+ aft] ! item relat+ to section #cf ! foll[+ new item3 ,sec4 #cf;,a4 ,cr$it = co/s ( education4 4 7c7 ,con=m+ am5dm5t ,section #fbaa7;b77#d77;,a7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by ins]t+ 1 #cf;,a aft] #cf4 7d7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjai4 #c4 ,family education assi/ance 7a7 ,e/abli%m5t ( family education assi/ance cr$it ,subp>t ,c ( "p ,,iv ( sub*apt] ,a ( *apt] #a ( subtitle ,a ( ! ,int]nal ,rev5ue ,code ( #aihf1 z am5d$ by section #b1 is fur!r am5d$ by ins]t+ aft] section #cf;,b ! foll[+ new section3 #cf;,c4 ,family education assi/ance 7a7 ,9 g5]al ,z soon z practicable & n lat] ?an two weeks aft] ! date ( ! enactm5t ( ?is section1 ! ,secret>y %all e/abli% a program = mak+ family education assi/ance cr$it paym5ts1 includ+ electronic paym5ts1 on a mon?ly basis1 )\t respect to tax liability1 = ea* citiz5 resid+ ) a dep5d5t qualify+ *ild equal to #a1bjj = ea* eligible mon?4 7b7 ,limitations 7#a7 ,limitation bas$ on adju/$ gross income ,! am\nt ( ! cr$it all[$ by subsection 7a7 7det]m9$ )\t reg>d to ?is subsection7 %all be r$uc$ 7b n bel[ z]o7 by #e p]c5t ( s mu* ( ! taxpay]'s adju/$ gross income z exce$s-- 7,a7 #aej1jjj 9 ! case ( a jo9t return1 7,b7 #aab1ejj 9 ! case ( a head ( h\sehold1 & 7,c7 #ge1jjj 9 ! case ( a taxpay] n describ$ 9 subp>agraph 7,a7 or 7,b74 7#b7 ,h\sehold limit ,family education assi/ance cr$it paym5ts may only be claim$ by "o memb] ( a h\sehold1 & only "o cr$it may be claim$ p] resid5ce4 7c7 ,qualify+ *ild 7#a7 ,9 g5]al ,9 ?is section1 ! t]m qualify+ *ild means a qualify+ *ild ( ! fil] 7z def9$ 9 section #aeb7;c77 :o has n atta9$ #ah 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 ,eligible mon? ,= purposes ( ?is section-- 7#a7 ,9 g5]al ,! t]m eligible mon? means1 ) respect to a qualify+ *ild1 any mon? dur+ :i*-- 7,a7 su* *ild is an elem5t>y or second>y /ud5t 7includ+ k9d]g>t571 & 7,b7 ei!r-- 7i7 ! s*ool di/rict 9 :i* su* *ild resides is clos$1 9 "p or 9 full1 or utiliz+ virtual1 di/ance1 or o!r alt]native education models or a hybrid ( su* models & 9-p]son att5dance1 dur+ any "p ( ! mon? due to ,,covid-#ai1 or 7ii7 ! p>5t or gu>dian ( su* *ild elects n to s5d ! *ild to s*ool due to ,,covid-#ai4 7#b7 ,application & t]m9ation ,! t]m eligible mon? %all include only mon?s beg9n+ aft] ,july #ca1 #bjbj1 & be=e ,july #a1 #bjba4 ,9 ! case ( eligible mon?s occurr+ be=e ! e/abli%m5t ( ! program describ$ 9 subsection 7a71 ! cr$it am\nt attributable to su* mon?s %all be paid to ! recipi5t 9 comb9ation ) ! cr$it am\nt = ! fir/ eligible mon? dur+ :i* su* program is op]ational4 7e7 ,application & v]ification 7#a7 ,application ,! ,secret>y %all e/abli% an exp$it$ process by :i* citiz5s may apply = & provide all necess>y in=mation to obta9 access to in/allm5ts ( ! family education assi/ance cr$it outside ! annual tax return process utiliz+-- 7,a7 in=mation f ! b5efici>y's mo/ rec5t tax return if ! b5efici>y has fil$ previ\sly & su* return is = #bjah or #bjai1 & 7,b7 any additional or alt]native in=mation submissions deem$ necess>y by ! ,secret>y to facilitate application1 v]ification ( eligibility =1 & prompt deliv]y ( ! family education assi/ance cr$it4 7#b7 ,v]ification ,no cr$it %all be all[$ "u ?is section to a taxpay] on ! basis ( a qualify+ *ild unless ! taxpay] has provid$ ! "n & taxpay] id5tification numb] ( su* qualify+ *ild 9 a mann] deem$ appropriate = ! application process by ! ,secret>y4 7#c7 ,treatm5t ( family education assi/ance cr$its = income tax purposes 7,a7 ,nontaxation ( cr$it ,not)/&+ any o!r provision ( law1 no am\nt receiv$ z a family education assi/ance cr$it %all be treat$ z income = ! purpose ( calculat+ ,f$]al1 ,/ate1 or local tax liability4 7,b7 ,effect on tax liability ,! tax liability ( a recipi5t ( ! family education assi/ance cr$it = a taxable ye> 9 :i* paym5ts ( su* cr$it are receiv$ %all be det]m9$ )\t respect to su* cr$it4 4 7b7 ,con=m+ am5dm5ts 7#a7 ,section #acbd7;b77#b7 ( title #ca1 ,unit$ ,/ates ,code1 is am5d$ by ins]t+ 81 #cf;,c0 aft] 8#cf;,b04 7#b7 ,! table ( sections = subp>t ,c ( "p ,,iv ( sub*apt] ,a ( *apt] #a ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by ins]t+ be=e ! item relat+ to section #cg ! foll[+ new item3 ,sec4 #cf;,c4 ,family education assi/ance4 4