,,ii  #aag? ,,congress  #a/ ,session    
,s4 #adbf  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,april #bh1 #bjba ,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 e/abli% a      
refundable tax cr$it = p>5ts4  #a4 ,%ort
 title ,?is ,act may be cit$ z ! ,p>5t  
,tax ,cr$it ,act4  #b4 ,e/abli%m5t (    
,p>5t ,tax ,cr$it  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;,b !   
foll[+ new section3  #cf;,c4 ,p>5t ,tax 
,cr$it  7a7 ,9 g5]al ,9 ! case ( an     
eligible individual1 !re %all be all[$ z
 a cr$it aga9/ ! tax impos$ by ?is      
subtitle = ! taxable ye> an am\nt equal 
to #f1jjj 7#ab1jjj 9 ! case ( a jo9t    
return74  7b7 ,limitation bas$ on e>n$  
income  7#a7 ,9 g5]al ,no cr$it %all be 
all[$ "u ?is section to any taxpay] =   
any taxable ye> 9 :i* ! e>n$ income 7z  
def9$ 9 section #cb7;c77#b77 ( su*      

taxpay] dur+ su* taxable ye> is n equal 
to or great] ?an ! m9imum income level4 
7#b7 ,m9imum income level ,= purposes ( 
?is subsection1 ! m9imum income level   
%all be an am\nt equal to ! product (-- 
7,a7 ! m9imum wage rate 9 effect "u     
section #f7;a77#a7 ( ! ,fair ,labor     
,/&>ds ,act ( #aich 7#bi ,u4,s4,c4      
#bjf7;a77#a771 multipli$ by  7,b7 #ajdj 
h\rs4  7c7 ,eligible individual ,! t]m  
eligible individual means any           
individual--  7#a7 :o1 = ! taxable ye>1 
has a qualify+ *ild 7z def9$ 9 section  
#aeb7;c77 :o has n atta9$ age #ac z ( ! 
close ( su* taxable ye>1 &  7#b7 o!r    
?an--  7,a7 any nonresid5t ali5         
individual1  7,b7 any ali5 7z def9$ 9   
section #aja7;a7 ( ! ,immigration &     
,nationality ,act 7#h ,u4,s4,c4         
#aaja7;a77 :o is unlawfully pres5t 9 !  
,unit$ ,/ates 7)9 ! mean+ ( t ,act71 &  
7,c7 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> beg9s4  7d7 ,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\se1 &  7,c7 9 ! case ( a
 qualify+ *ild describ$ 9 subsection    
7c77#a71 ! valid id5tification numb] (  
su* qualify+ *ild4  7#b7 ,valid         
id5tification numb]  7,a7 ,9 g5]al ,=   
purposes ( p>agraph 7#a71 ! t]m valid   
id5tification numb] means a social      
security numb] 7z su* t]m is def9$ 9    
section #bd7;h77#g774  7,b7 ,adoption   
taxpay] id5tification numb] ,= purposes 
( p>agraph 7#a77;,c71 9 ! case ( a      
qualify+ *ild :o is adopt$ or plac$ =   
adoption1 ! t]m valid id5tification     
numb] %all include ! adoption taxpay]   
id5tification numb] ( su* *ild4  7#c7   
,special rule = memb]s ( ! ,arm$ ,=ces  
,p>agraph 7#a77;,b7 %all n apply 9 !    

case :]e at lea/ #a sp\se 0 a memb] ( ! 
,arm$ ,=ces ( ! ,unit$ ,/ates at any "t 
dur+ ! taxable ye> & at lea/ #a sp\se   
satisfies p>agraph 7#a77;,a74  7#d7     
,ma!matical or cl]ical error au?ority   
,any omission ( a correct valid         
id5tification numb] requir$ "u ?is      
subsection %all be treat$ z a ma!matical
 or cl]ical error = purposes ( apply+   
section #fbac7;g77#b7 to su* omission4  
7e7 ,taxable ye> mu/ be full taxable ye>
 ,except 9 ! case ( a taxable ye> clos$ 
by reason ( ! dea? ( ! taxpay]1 no cr$it
 %all be all[able "u ?is section 9 !    
case ( a taxable ye> cov]+ a p]iod (    
less ?an #ab mon?s4  7f7 ,re/rictions on
 taxpay] :o improp]ly claim$ cr$it 9    
prior ye> ,rules simil> to ! rules "u   
section #bd7;g7 %all apply = purposes ( 
?is section4  7g7 ,adju/m5t = inflation 
7#a7 ,9 g5]al ,9 ! case ( any taxable   
ye> beg9n+ aft] #bjbb1 ea* doll> am\nt 9
 subsection 7a7 %all be increas$ 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+ #bjba;= #bjaf 9    
subp>agraph 7,a77ii7 !re(4  7#b7 ,r\nd+ 
,if any increase "u p>agraph 7#a7 is n a
 multiple ( #ajj1 su* increase %all be  
r\nd$ to ! next l[e/ multiple ( #ajj4  4
  7b7 ,advance paym5t ( cr$it  7#a7 ,9  
g5]al ,*apt] #gg ( ! ,int]nal ,rev5ue   
,code ( #aihf1 z am5d$ by section       
#ifaa7;b7 ( ! ,am]ican ,rescue ,plan    
,act ( #bjba 7,public ,law #aag-b71 is  
am5d$ by ins]t+ aft] section #gebg;,a ! 
foll[+ new section3  #gebg;,b4 ,advance 
paym5t ( ,p>5t ,tax ,cr$it  7a7 ,9 g5]al
 ,z soon z practicable aft] ! date ( !  
enactm5t ( ?is section1 ! ,secret>y %all
 e/abli% a program = mak+ advance       
paym5ts ( ! cr$it all[$ "u section      
#cf;,c 7det]m9$ )\t reg>d to subsection 
7h7 ( su* section71 on a mon?ly basis1  
to taxpay]s 7) ! exception ( any taxpay]
 :o elects n to receive su* paym5ts     
pursuant to subsection 7c77#a774  7b7   
,limitation ,) respect to any taxable   

ye>1 ! ,secret>y may make paym5ts "u    
subsection 7a7 only to ! ext5t t--  7#a7
 ! total am\nt ( su* paym5ts made to any
 taxpay] dur+ su* taxable ye> does n    
exce$ ! am\nt e/imat$ by ! ,secret>y z  
w\ld be all[able "u section #cf;,c = su*
 taxable ye>1 z e/imat$ bas$ on-- 7,a7  
any in=mation provid$ by ! taxpay] "u   
subsection 7c77#b71 or  7,b7 if no      
in=mation describ$ 9 subp>agraph 7,a7   
has be5 provid$1 any in=mation ) respect
 to su* taxpay] = ! mo/ rec5t taxable   
ye> = :i* a return has be5 fil$ by !    
taxpay]1 &  7#b7 = ea* mon?ly paym5t1   
su* paym5t does n exce$ an am\nt equal  
to ! quoti5t (--  7,a7 ! am\nt ( ! cr$it
 e/imat$ "u p>agraph 7#a7 = su* taxable 
ye>1 divid$ by  7,b7 #ab4  7c7 ,on-,l9e 
in=mation portal ,! ,secret>y %all      
e/abli% an on-l9e portal :i* all[s      
taxpay]s to-- 7#a7 elect n to receive   
paym5ts "u ?is section1 &  7#b7 provide 
in=mation to ! ,secret>y :i* w\ld be    
relevant to ! det]m9ation "u subsection 
7b77#a71 includ+ in=mation reg>d+-- 7,a7

 = purposes ( section #cf;,c7c77#a71    
:e!r ! taxpay] has any qualify+ *ildr51 
includ+ by reason ( ! bir? ( a *ild1    
7,b7 a *ange 9 ! taxpay]'s m>ital /atus1
  7,c7 a significant *ange 9 ! taxpay]'s
 e>n$ income1 &  7,d7 any o!r factor :i*
 ! ,secret>y may provide4  7d7 ,notice (
 paym5ts ,n lat] ?an ,janu>y #ca ( !    
cal5d> ye> foll[+ any cal5d> ye> dur+   
:i* ! ,secret>y makes "o or m paym5ts to
 any taxpay] "u ?is section1 ! ,secret>y
 %all provide su* taxpay] ) a writt5    
notice :i* includes ! taxpay]'s taxpay] 
id5tity 7z def9$ 9 section              
#fajc7;b77#f771 ! aggregate am\nt ( su* 
paym5ts made to su* taxpay] dur+ su*    
cal5d> ye>1 & su* o!r in=mation z !     
,secret>y det]m9es appropriate4  7e7    
,adm9i/rative provisions  7#a7          
,application ( electronic funds paym5t  
requirem5t ,! paym5ts made by !         
,secret>y "u subsection 7a7 %all be made
 by electronic funds transf] to ! same  
ext5t & 9 ! same mann] z if su* paym5ts 
7 ,f$]al paym5ts n made "u ?is title4   

7#b7 ,application ( c]ta9 rules ,rules  
simil> to ! rules ( subp>agraphs 7,b7 & 
7,c7 ( section #fdbh;,a7f77#c7 %all     
apply = purposes ( ?is section4  4  7#b7
 ,reconciliation ( cr$it & advance cr$it
 ,section #cf;,c ( su* ,code1 z add$ by 
subsection 7a71 is am5d$ by add+ at !   
end ! foll[+3  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$it "u section #gebg;,b 
= su* taxable ye>4  7#b7 ,failure to    
satisfy e>n$ income requirem5t ,9 ! case
 ( any taxpay] :o receiv$ any advance   
paym5t "u section #gebg;,b = ! taxable  
ye> & ^: e>n$ income = su* taxable ye> 0
 n equal to or great] ?an ! m9imum      
income level 7z det]m9$ "u subsection   
7b77#b771 = ! p]iod ( #b taxable ye>s   
subsequ5t to su* taxable ye>-- 7,a7 no  
advance paym5t may be provid$ "u section
 #gebg;,b to su* taxpay] 9 ei!r taxable 
ye> dur+ su* p]iod1 &  7,b7 ! am\nt ( ! 

cr$it :i* w\ld 7b = ?is p>agraph7       
o!rwise be all[able to su* taxpay] "u   
subsection 7a7 9 ei!r taxable ye> dur+  
su* p]iod %all be r$uc$ by "o-half ( su*
 am\nt4  4  7c7 ,exception f r$uction or
 (fset ,any cr$it all[$ to any          
individual "u section #cf;,c ( !        
,int]nal ,rev5ue ,code ( #aihf 7z add$  
by subsection 7a77 or any advance paym5t
 ( su* cr$it "u section #gebg;,b ( su*  
,code 7z add$ "u subsection 7b77 %all n 
be--  7#a7 subject to r$uction or (fset 
pursuant to section #cgaf or #cgbj;,a ( 
title #ca1 ,unit$ ,/ates ,code1  7#b7   
subject to r$uction or (fset pursuant to
 subsection 7d71 7e71 or 7f7 ( section  
#fdjb ( ! ,int]nal ,rev5ue ,code (      
#aihf1 or  7#c7 r$uc$ or (fset by o!r   
assess$ ,f$]al taxes t w\ld o!rwise be  
subject to levy or collection4  7d7     
,con=m+ am5dm5ts  7#a7 ,section         
#fbaa7;b77#d77;,a7 ( ! ,int]nal ,rev5ue 
,code ( #aihf is am5d$--  7,a7 by ins]t+
 8#cf;,c10 aft] #cf;,b11 &  7,b7 by     
/rik+ & #gebg;,a & ins]t+ #gebg;,a1 &   

#gebg;,b4  7#b7 ,section                
#fbac7;g77#b77,l7 ( su* ,code is am5d$  
by ins]t+ #cf;,c1 aft] #cb14  7#c7      
,p>agraph 7#b7 ( section #acbd7;b7 (    
title #ca1 ,unit$ ,/ates ,code1 is      
am5d$--  7,a7 by ins]t+ #cf;,c1 aft]    
#cf;,b11 &  7,b7 by /rik+ or #gebg;,a & 
ins]t+ #gebg;,a1 or #gebg;,b4  7#d7 ,!  
table ( sections = subp>t ,c ( "p ,,iv (
 sub*apt] ,a ( *apt] #a ( ! ,int]nal    
,rev5ue ,code ( #aihf is am5d$ by ins]t+
 aft] ! item relat+ to section #cf;,b ! 
foll[+ new item3  ,sec4 #cf;,c4 ,p>5t   
,tax ,cr$it4  4  7#e7 ,! table (        
sections = *apt] #gg ( su* ,code is     
am5d$ by ins]t+ aft] ! item relat+ to   
section #gebg;,a ! foll[+ new item3     
,sec4 #gebg;,b4 ,advance paym5t ( ,p>5t 
,tax ,cr$it4  4  7e7 ,t]m9ation ( ,*ild 
& ,dep5d5t ,c>e ,cr$it ,section #ba ( ! 
,int]nal ,rev5ue ,code ( #aihf is am5d$ 
by add+ at ! end ! foll[+3  7i7         
,t]m9ation ,?is section %all n apply to 
any taxable ye> beg9n+ aft] ,decemb]    
#ca1 #bjba4  4  7f7 ,effective date ,!  

am5dm5ts made by ?is section %all apply 
to taxable ye>s beg9n+ aft] ,decemb]    
#ca1 #bjba4