,i #aai? ,,congress #a/ ,session ,h4 ,r4 #fijj ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,decemb] #ah1 #bjbe,mr4 ,?ompson ( ,cali=nia 7= himself1 ,mr4 ,l>son ( ,connecticut1 ,mr4 ,davis ( ,ill9ois1 ,ms4 ,sn*ez1 ,ms4 ,sewell1 ,ms4 ,del,bene1 ,ms4 ,*u1 ,ms4 ,moore ( ,wiscons91 ,mr4 ,boyle ( ,p5nsylvania1 ,mr4 ,bey]1 ,mr4 ,evans ( ,p5nsylvania1 ,mr4 ,s*neid]1 ,mr4 ,panetta1 ,mr4 ,gomez1 ,mr4 ,hors=d1 ,ms4 ,plaskett1 ,mr4 ,suozzi1 ,mr4 ,bell1 ,ms4 ,craig1 ,ms4 ,de,lauro1 ,mr4 ,g>am5di1 ,mr4 ,goldman ( ,new ,york1 ,ms4 ,johnson ( ,texas1 ,mr4 ,k5n$y ( ,new ,york1 ,ms4 ,matsui1 ,ms4 ,mc,bride1 ,ms4 ,mc,donald ,rivet1 ,mr4 ,mc,garvey1 ,mr4 ,mrvan1 ,mr4 ,quigley1 ,ms4 ,sal9as1 ,ms4 ,titus1 & ,ms4 ,s*olt57 introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,ways & ,means1 & 9 addition to ! ,committees on ,education & ,work=ce1 & ,en]gy & ,comm]ce1 = a p]iod to be subsequ5tly det]m9$ by ! ,speak]1 9 ea* case = consid]ation ( su* provisions z fall )9 ! jurisdiction ( ! committee conc]n$ ,a ,,bill ,to am5d ! ,int]nal ,rev5ue ,code ( #aihf to address ! nation's co/-(-liv+ crisis4 #a4 ,%ort title2 etc 7a7 ,%ort title ,?is ,act may be cit$ z ! ,am]ican ,af=dability ,act ( #bjbe4 7b7 ,am5dm5t ( #aihf code ,except z o!rwise expressly provid$1 :5ev] 9 ?is ,act an am5dm5t is express$ 9 t]ms ( an am5dm5t to a section or o!r provision1 ! ref]5ce %all be consid]$ to be made to a section or o!r provision ( ! ,int]nal ,rev5ue ,code ( #aihf4 7c7 ,table ( cont5ts ,! table ( cont5ts ( ?is ,act is z foll[s3 ,sec4 #a4 ,%ort title2 etc4,title ,i--,h\s+ & municipal infrastructure,subtitle ,a--,l[-income h\s+ credit,part #a--,re=m ( ,/ate allocation formulas,sec4 #aaaja4 ,increases 9 ,/ate allocations4,"p #b--,re=ms relat+ to t5ant eligibility,sec4 #aabja4 ,av]age income te/ applicability to exempt facility bonds4,sec4 #aabjb4 ,codification ( rules relat+ to increas$ t5ant income4,sec4 #aabjc4 ,modification ( /ud5t occupancy rules4,sec4 #aabjd4 ,t5ant v\*] paym5ts tak5 into acc\nt z r5t = c]ta9 purposes4,sec4 #aabje4 ,requirem5t t l[-income h\s+ cr$it-support$ h\s+ protect victims ( dome/ic abuse4,sec4 #aabjf4 ,cl>ification ( g5]al public use requirem5t relat+ to vet]ans1 etc4,"p #c--,rules relat+ to cr$it eligibility & determination,sec4 #aacja4 ,recon/ruction or replacem5t p]iod aft] casualty loss4,sec4 #aacjb4 ,modification ( previ\s own]%ip rules2 limitation on acquisition basis4,sec4 #aacjc4 ,c]ta9 relocation co/s tak5 into acc\nt z rehabilitation exp5ditures4,sec4 #aacjd4 ,repeal ( qualifi$ c5sus tract population cap4,sec4 #aacje4 ,det]m9ation ( community revitalization plan to be made by h\s+ cr$it ag5cy4,sec4 #aacjf4 ,prohibition ( local approval & contribution requirem5ts4,sec4 #aacjg4 ,increase 9 cr$it = c]ta9 projects designat$ to s]ve extremely l[-income h\seholds4,sec4 #aacjh4 ,increase 9 cr$it = bond-f9anc$ projects designat$ by ,/ate ag5cy4,sec4 #aacji4 ,elim9ation ( basis r$uction = l[-income h\s+ prop]ties en]gy effici5t comm]cial build+ d$uction4,sec4 #aacaj4 ,re/riction ( plann$ =eclosures4,sec4 #aacaa4 ,increase ( population cap = difficult developm5t areas4,sec4 #aacab4 ,increas$ co/ ov]sight & acc\ntability4,"p #d--,re=ms relat+ to ,native ,am]ican assistance,sec4 #aadja4 ,selection crit]ia "u qualifi$ allocation plans4,sec4 #aadjb4 ,inclusion ( ,indian areas z difficult developm5t areas = purposes ( c]ta9 build+s4,"p #e--,re=ms relat+ to rural assistance,sec4 #aaeja4 ,inclusion ( rural areas z difficult developm5t areas4,sec4 #aaejb4 ,uni=m income eligibility = rural projects4,"p #f--;,exempt facility bonds,sec4 #aafja4 ,revision & cl>ification ( ! treatm5t ( refund+ issues4,"p #g--,re=ms relat+ to disabl$ veterans,sec4 #aagja4 ,treatm5t ( vet]an disability comp5sation or p5sion paym5ts = purposes ( l[ income h\s+ tax cr$it & resid5tial r5tal project bonds4,"p #h--,re=ms relat+ to c]ta9 o!r populations,sec4 #aahja4 ,additional h\s+ cr$it allocations = c]ta9 populations :o face unique b>ri]s to af=dable h\s+4,"p #i--,qualifi$ contracts & "r ( fir/ refusal,sec4 #aaija4 ,repeal ( qualifi$ contract option4,sec4 #aaijb4 ,modification & cl>ification ( rights relat+ to build+ pur*ase4,subtitle ,b--,additional h\s+ incentives,sec4 #abjja4 ,inve/m5t cr$it = conv]sion ( non-resid5tial build+s to af=dable h\s+4,sec4 #abjjb4 ,neighborhood homes cr$it4,sec4 #abjjc4 ,modification ( hi/oric rehabilitation tax cr$it4,sec4 #abjjd4 ,increase ( exclusion ( ga9 f sale ( pr9cipal resid5ce4,sec4 #abjje4 ,middle-income h\s+ tax cr$it4,subtitle ,c--,af=d+ ! ,am]ican dream,sec4 #acjja4 ,fir/-"t homebuy] refundable tax cr$it4,sec4 #acjjb4 ,refundable cr$it = r5t paid = pr9cipal resid5ce4,title ,,ii--,l[]+ en]gy costs,subtitle ,a--,l[]+ co/s ?r\gh an all-(-!-above en]gy policy,sec4 #bajja4 ,clean en]gy production cr$it4,sec4 #bajjb4 ,clean electricity inve/m5t cr$it4,sec4 #bajjc4 ,advanc$ manufactur+ production cr$it4,sec4 #bajjd4 ,repeal ( re/riction on ! ext5sion ( advance en]gy project cr$it program4,sec4 #bajje4 ,rev]sion ( con/ruction date = clean hydrog5 production cr$it4,sec4 #bajjf4 ,rev]sion ( t]m9ation = resid5tial clean en]gy cr$it4,sec4 #bajjg4 ,re9/atem5t ( special rate = su/a9able aviation fuel4,subtitle ,b--,l[]+ co/s ?r\gh en]gy efficiency,sec4 #bbjja4 ,en]gy effici5t home improvem5t cr$it4,sec4 #bbjjb4 ,new en]gy effici5t home cr$it4,sec4 #bbjjc4 ,repeal ( t]m9ation ( new en]gy effici5t comm]cial build+s d$uction4,sec4 #bbjjd4 ,re/oration ( co/ recov]y = en]gy prop]ty4,subtitle ,c--,l[]+ co/s = electric vehicles & *>g+ infrastructure,sec4 #bcjja4 ,rev]sion ( t]m9ation date = previ\sly-own$ vehicle cr$it4,sec4 #bcjjb4 ,rev]sion ( t]m9ation date = clean vehicle cr$it4,sec4 #bcjjc4 ,qualifi$ comm]cial clean vehicles cr$it4,sec4 #bcjjd4 ,rev]sion ( t]m9ation date = alt]native fuel vehicle refuel+ prop]ty cr$it4,sec4 #bcjje4 ,cr$it = c]ta9 new electric bicycles4,subtitle ,d--,l[]+ co/s ( clean infra/ructure & resiliency,sec4 #bdjja4 ,qualify+ wat] reuse project cr$it4,sec4 #bdjjb4 ,recycl+ prop]ty inve/m5t cr$it4,sec4 #bdjjc4 ,exclusion ( am\nts receiv$ f ,/ate-bas$ cata/rophe loss mitigation programs4,sec4 #bdjjd4 ,exclusion f gross income ( c]ta9 em]g5cy agricultural assi/ance4,sec4 #bdjje4 ,cr$it = disa/] mitigation exp5ditures4,sec4 #bdjjf4 ,e/abli%m5t ( electric p[] transmission l9e cr$it4,sec4 #bdjjg4 ,qualify+ advanc$ batt]y project cr$it4,title ,,iii--,*ild & dep5d5t care,subtitle ,a--,*ild tax credit,sec4 #cajja4 ,e/abli%m5t ( refundable *ild tax cr$it ) mon?ly advance paym5t4,subtitle ,b--,*ild & dep5d5t care,sec4 #cbjja4 ,enhancem5t ( ,*ild & ,dep5d5t ,c>e ,tax ,cr$it4,sec4 #cbjjb4 ,increas$ maximum contribution to dep5d5t c>e assi/ance programs4,sec4 #cbjjc4 ,cr$it = work+ family c>egiv]s4,sec4 #cbjjd4 ,lic5s$ family *ild c>e cr$it4,subtitle ,c--,ensur+ af=dable adoptions,sec4 #ccjja4 ,refundable adoption tax cr$it4,title ,,iv--,education & work=ce training,subtitle ,a--,ensur+ af=dable high] education,sec4 #dajja4 ,am]ican opportunity cr$it exp&$ to #f ye>s1 made tempor>ily fully refundable4,sec4 #dajjb4 ,expansion ( ,pell ,grant exclusion f gross income4,sec4 #dajjc4 ,expansion ( ,am]ican ,opportunity & ,lifetime ,le>n+ ,cr$its4,sec4 #dajjd4 ,elim9ation ( d5ial ( ,am]ican ,opportunity ,tax ,cr$it = /ud5ts convict$ ( a felony drug (f5se4,sec4 #dajje4 ,modification ( treatm5t ( /ud5t loan =giv5ess4,sec4 #dajjf4 ,/ud5t loan int]e/ d$uction limitation appli$ sep>ately to ea* sp\se4,subtitle ,b--,support+ our workforce,sec4 #dbjja4 ,educator exp5se d$uction to include e>ly *ildhood educators4,sec4 #dbjjb4 ,all[ance ( d$uction = c]ta9 exp5ses ( ! trade or bus9ess ( be+ an employee4,sec4 #dbjjc4 ,modification ( d$uction = ca% tips4,sec4 #dbjjd4 ,d$uction = c]ta9 ov]time comp5sation4,sec4 #dbjje4 ,above-!-l9e d$uction ( exp5ses ( p]=m+ arti/s4,sec4 #dbjjf4 ,p]man5t ext5sion ( e>n$ income cr$it rules = individuals )\t qualify+ *ildr54,sec4 #dbjjg4 ,application ( e>n$ income cr$it to possessions ( ! ,unit$ ,/ates4,sec4 #dbjjh4 ,election to use prior ye> e>n$ income = e>n$ income tax cr$it4,title ,v--,healthcare,sec4 #ejjja4 ,increase 9 eligibility = heal? insurance premium assi/ance tax cr$it4,sec4 #ejjjb4 ,fill+ ! cov]age gap4,sec4 #ejjjc4 ,freeze ( premium adju/m5t p]c5tage increase4,sec4 #ejjjd4 ,requir+ cov]age ( c]ta9 immunizations recomm5d$ by ! ,advisory ,committee on ,immunization ,practices4 ,i ,h\s+ & municipal infra/ructure ,a ,l[-income h\s+ cr$it #a ,re=m ( ,/ate allocation =mulas #aaaja4 ,increases 9 ,/ate allocations 7a7 ,9 g5]al ,clause 7ii7 ( section #db7;h77#c77;,c7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$-- 7#a7 9 subclause 7,i71 by /rik+ #a4ge & ins]t+ ! p] capita am\nt1 & 7#b7 9 subclause 7,,ii71 by /rik+ #b1jjj1jjj & ins]t+ ! m9imum am\nt4 7b7 ,p] capita am\nt2 m9imum am\nt ,section #db7;h77#c7 ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by /rik+ subp>agraphs 7,h7 & 7,i7 & ins]t+ ! foll[+3 7,h7 ,p] capita am\nt ,= purposes ( subp>agraph 7,c77ii77,i71 ! p] capita am\nt %all be det]m9$ z foll[s3 7i7 ,cal5d> ye> #bjbf ,= cal5d> ye> #bjbf1 ! p] capita am\nt is #d4be4 7ii7 ,cal5d> ye> #bjbg ,= cal5d> ye> #bjbg1 ! p] capita am\nt is ! product (-- 7,i7 #a4be1 & 7,,ii7 ! doll> am\nt "u clause 7i7 increas$ by an am\nt equal to-- 7aa7 su* doll> am\nt1 multipli$ by 7bb7 ! co/-(-liv+ adju/m5t det]m9$ "u section #a7;f77#c7 = su* cal5d> ye>1 det]m9$ by sub/itut+ cal5d> ye> #bjbe = cal5d> ye> #bjaf 9 subp>agraph 7,a77ii7 !re(4 ,if ! am\nt det]m9$ aft] application ( ! prec$+ s5t5ce is n a multiple ( #e1jjj1 su* am\nt %all be r\nd$ to ! next l[e/ multiple ( #e1jjj4 7iii7 ,cal5d> ye>s aft] #bjbg ,9 ! case ( any cal5d> ye> aft] #bjbg1 ! p] capita am\nt is ! doll> am\nt det]m9$ "u clause 7ii7 increas$ by an am\nt equal to-- 7,i7 su* doll> am\nt1 multipli$ by 7,,ii7 ! co/-(-liv+ adju/m5t det]m9$ "u section #a7;f77#c7 = su* cal5d> ye>1 det]m9$ by sub/itut+ cal5d> ye> #bjbf = cal5d> ye> #bjaf 9 subp>agraph 7,a77ii7 !re(4 ,any am\nt increas$ "u ! prec$+ s5t5ce :i* is n a multiple ( #e c5ts %all be r\nd$ to ! next l[e/ multiple ( #e c5ts4 7,i7 ,m9imum am\nt ,= purposes ( subp>agraph 7,c77ii77,,ii71 ! m9imum am\nt %all be det]m9$ z foll[s3 7i7 ,cal5d> ye> #bjbf ,= cal5d> ye> #bjbf1 ! m9imum am\nt is #d1hgf1jjj4 7ii7 ,cal5d> ye> #bjbg ,= cal5d> ye> #bjbg1 ! m9imum am\nt is ! product (-- 7,i7 #a4be1 & 7,,ii7 ! doll> am\nt "u clause 7i7 increas$ by an am\nt equal to-- 7aa7 su* doll> am\nt1 multipli$ by 7bb7 ! co/-(-liv+ adju/m5t det]m9$ "u section #a7;f77#c7 = su* cal5d> ye>1 det]m9$ by sub/itut+ cal5d> ye> #bjbe = cal5d> ye> #bjaf 9 subp>agraph 7,a77ii7 !re(4 ,if ! am\nt det]m9$ aft] application ( ! prec$+ s5t5ce is n a multiple ( #e c5ts1 su* am\nt %all be r\nd$ to ! next l[e/ multiple ( #e c5ts4 7iii7 ,cal5d> ye>s aft] #bjbg ,9 ! case ( any cal5d> ye> aft] #bjbg1 ! m9imum am\nt is ! doll> am\nt det]m9$ "u clause 7ii7 increas$ by an am\nt equal to-- 7,i7 su* doll> am\nt1 multipli$ by 7,,ii7 ! co/-(-liv+ adju/m5t det]m9$ "u section #a7;f77#c7 = su* cal5d> ye>1 det]m9$ by sub/itut+ cal5d> ye> #bjbf = cal5d> ye> #bjaf 9 subp>agraph 7,a77ii7 !re(4 ,any am\nt increas$ "u ! prec$+ s5t5ce :i* is n a multiple ( #e1jjj %all be r\nd$ to ! next l[e/ multiple ( #e1jjj4 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to cal5d> ye>s beg9n+ aft] ,decemb] #ca1 #bjbe4 #b ,re=ms relat+ to t5ant eligibility #aabja4 ,av]age income te/ applicability to exempt facility bonds 7a7 ,9 g5]al ,p>agraph 7#a7 ( section #adb7;d7 is am5d$-- 7#a7 by /rik+ 7,a7 or 7,b7 & ins]t+ 7,a71 7,b71 or 7,c71 & 7#b7 by ins]t+ aft] subp>agraph 7,b7 ! foll[+ new subp>agraph3 7,c7 ,av]age income te/ ,a project meets ! requirem5ts ( ?is subp>agraph if x meets ! m9imum requirem5ts ( section #db7;g77#a77;,c74 4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to elections made "u section #adb7;d77#a7 ( ! ,int]nal ,rev5ue ,code ( #aihf aft] ,m>* #bc1 #bjah4 #aabjb4 ,codification ( rules relat+ to increas$ t5ant income 7a7 ,9 g5]al ,clause 7i7 ( section #db7;g77#b77;,d7 is am5d$ by /rik+ clauses 7ii71 7iii71 & 7iv7 & all t foll[s & ins]t+ 8clauses 7ii71 7iii71 7iv71 & 7vi71 not)/&+ an increase 9 ! income ( ! occupants above ! income limitation applicable "u p>agraph 7#a7-- 7,i7 a l[-income unit %all cont9ue to be treat$ z a l[-income unit if ! income ( su* occupants initially 0 #fj p]c5t or less ( area m$ian gross income & su* unit cont9ues to be r5t-re/rict$1 & 7,,ii7 a unit to :i*1 at ! "t ( initial occupancy by su* occupants1 any ,f$]al1 ,/ate1 or local gov]nm5t income re/riction appli$1 & :i* subsequ5tly becomes "p ( a build+ ) respect to :i* rehabilitation exp5ditures are tak5 into acc\nt "u subsection 7e71 %all be treat$ z a l[-income unit if ! income ( su* occupants initially 0 #fj p]c5t or less ( area m$ian gross income & does n exce$ #abj p]c5t ( area m$ian gross income z ( ! date ( acquisition ( ! prop]ty by ! taxpay]4 4 7b7 ,exception ,subp>agraph 7,d7 ( section #db7;g77#b7 is am5d$ by add+ at ! end ! foll[+ new clause3 7vi7 ,exception to rule relat+ to increas$ t5ant income ,9 ! case ( an occupant ( a l[-income unit :o initially qualifi$ to occupy su* unit by reason ( p>agraph 7#a77;,c7 ) an income 9 excess ( #fj p]c5t ( area m$ian gross income b n 9 excess ( #hj p]c5t ( area m$ian gross income1 clause 7i7 %all be appli$ = sub/itut+ #hj p]c5t = #fj p]c5t ea* place x appe>s4 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbe4 #aabjc4 ,modification ( /ud5t occupancy rules 7a7 ,9 ,g5]al ,subp>agraph 7,d7 ( section #db7;i77#c7 is am5d$ to read z foll[s3 7,d7 ,rules relat+ to /ud5ts 7i7 ,9 g5]al ,a unit occupi$ solely by individuals :o-- 7,i7 h n atta9$ age #bd1 & 7,,ii7 are enroll$ 9 a full-"t c\rse ( /udy at an in/itution ( high] education 7z def9$ 9 section #ccjd7;f771 %all n be treat$ z a l[-income unit4 7ii7 ,exception = c]ta9 ,f$]al programs ,9 ! case ( a f$]ally-assi/$ build+ 7z def9$ 9 subsection 7d77#f77;,c77i771 clause 7i7 %all n apply to a unit all ( ! occupants ( :i* meet all applicable requirem5ts "u ! h\s+ program describ$ 9 su* subsection ?r\gh :i* ! build+ is assi/$1 f9anc$1 or op]at$4 7iii7 ,o!r exceptions ,an individual %all n be treat$ z describ$ 9 clause 7i7 if ! individual meets ! income limitation applicable "u subsection 7g77#a7 to ! project ( :i* ! build+ is a "p &-- 7,i7 is m>ri$1 7,,ii7 is a p]son ) disabilities 7z def9$ 9 section #c7;b77#c77;,e7 ( ! ,unit$ ,/ates ,h\s+ ,act ( #aicg71 7,,iii7 is a vet]an 7z def9$ 9 section #aja7b7 ( title #ch1 ,unit$ ,/ates ,code71 7,,iv7 has #a or m qualify+ *ildr5 7z def9$ 9 section #aeb7;c771 7,v7 is or has be5 a victim or ?reat5$ victim ( dome/ic viol5ce1 dat+ viol5ce1 sexual assault1 or /alk+ 7z def9$ 9 section #djjjb ( ! ,viol5ce ,aga9/ ,wom5 ,act ( #aiid71 7,,vi7 is or has be5 a victim ( any =m ( human traffick+1 or 7,,vii7 is1 or 0 prior to atta9+ ! age ( majority-- 7aa7 an emancipat$ m9or or 9 legal gu>dian%ip z det]m9$ by a c\rt ( compet5t jurisdiction 9 ! individual's ,/ate ( legal resid5ce1 7bb7 "u ! c>e & placem5t responsibility ( ! ,/ate ag5cy responsible = adm9i/]+ a plan "u "p ,b or "p ,e ( title ,,iv ( ! ,social ,security ,act1 or 7cc7 an unaccompani$ y\? 7)9 ! mean+ ( section #gbe7f7 ( ! ,mc,kinney-,v5to ,homeless ,assi/ance ,act 7#db ,u4,s4,c4 #aadcd;a7#f777 or a homeless *ild or y\? 7)9 ! mean+ ( section #gbe7b7 ( su* ,act 7#db ,u4,s4,c4 #aadcd;a7#b7774 ,= purposes ( subclause 7,,vi71 an individual is or has be5 a victim ( human traffick+ if su* individual 0 subject$ to an act or practice describ$ 9 p>agraph 7#aa7 or 7#ab7 ( section #ajc ( ! ,traffick+ ,victims ,protection ,act ( #bjjj4 4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbe4 #aabjd4 ,t5ant v\*] paym5ts tak5 into acc\nt z r5t = c]ta9 purposes 7a7 ,9 g5]al ,subp>agraph 7,b7 ( section #db7;g77#b7 is am5d$ by add+ at ! end ! foll[+ new s5t5ce3 ,9 ! case ( a project ) respect to :i* ! taxpay] elects ! requirem5ts ( subp>agraph 7,c7 ( p>agraph 7#a71 or ! portion ( a project to :i* subsection 7d77#e77;,c7 applies1 clause 7i7 %all n apply ) respect to any t5ant-bas$ assi/ance 7z def9$ 9 section #h7;f77#g7 ( ! ,unit$ ,/ates ,h\s+ ,act ( #aicg 7#db ,u4,s4,c4 #adcg;f7f77#g77744 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to r5t paid 9 taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbe4 #aabje4 ,requirem5t t l[-income h\s+ cr$it-support$ h\s+ protect victims ( dome/ic abuse 7a7 ,9 g5]al ,subp>agraph 7,b7 ( section #db7;h77#f7 is am5d$ by /rik+ & at ! end ( clause 7v71 by /rik+ ! p]iod at ! end ( clause 7vi7 & ins]t+ 1 &1 & by add+ at ! end ! foll[+ new clause3 7vii7 :i*-- 7,i7 prohibits ! refusal to lease to1 or t]m9ation ( a lease by1 a p]son solely on ! basis ( crim9al activity directly relat+ to dome/ic viol5ce1 dat+ viol5ce1 sexual assault1 or /alk+ t is engag$ 9 by a memb] ( ! h\sehold ( ! t5ant or any gue/ or o!r p]son "u ! control ( ! t5ant1 if ! t5ant or an affiliat$ individual ( ! t5ant is ! victim or ?reat5$ victim ( su* dome/ic viol5ce1 dat+ viol5ce1 sexual assault1 or /alk+1 & 7,,ii7 all[s prospective1 pres5t1 or =m] occupants ( ! build+ ! "r to en=ce 9 any ,/ate c\rt ! prohibition ( subclause 7,i74 4 7b7 ,bifurcation 7#a7 ,9 g5]al ,subp>agraph 7,b7 ( section #db7;h77#f71 z am5d$ by subsection 7a71 is fur!r am5d$ by add+ at ! end ! foll[+ new flu% s5t5ce3 ,= purposes ( clause 7vii77,i71 rules simil> to ! rules ( section #dadaa7;b77#c77;,b7 ( ! ,viol5ce ,aga9/ ,wom5 ,act ( #aiid %all apply ) respect to ! own] or manag] ( a build+4 4 7#b7 ,effect ( bifurcation ,p>agraph 7#b7 ( section #db7;g7 is am5d$ by add+ at ! end ! foll[+ new subp>agraph3 7,f7 ,treatm5t ( bifurcation 9 cases ( dome/ic viol5ce ,9 any case 9 :i*-- 7i7 an occupant is evict$ or remov$ f a l[-income unit because su* occupant has engag$ 9 crim9al activity directly relat+ to dome/ic viol5ce1 dat+ viol5ce1 sexual assault1 or /alk+ aga9/ an affiliat$ individual or o!r individual on ! basis ( crim9al activity directly relat+ to dome/ic viol5ce1 dat+ viol5ce1 sexual assault1 or /alk+1 & 7ii7 ! lease on su* unit is bifurcat$ z provid$ 9 ! la/ s5t5ce ( subsection 7h77#f77;,b71 !n ! rema9+ occupants ( su* l[-income unit %all n be treat$ z a new t5ant = purposes ( ?is section4 4 7c7 ,cl>ification ( g5]al public use requirem5t ,p>agraph 7#i7 ( section #db7;g7 is am5d$ by /rik+ or at ! end ( subp>agraph 7,b71 by /rik+ ! p]iod at ! end ( subp>agraph 7,c7 & ins]t+ 1 or1 & by add+ at ! end ! foll[+ new subp>agraph3 7,d7 :o are victims or ?reat5$ victims ( crim9al activity directly relat+ to dome/ic viol5ce1 dat+ viol5ce1 sexual assault1 or /alk+4 4 7d7 ,effective dates 7#a7 ,9 g5]al ,except z provid$ 9 p>agraph 7#b71 ! am5dm5ts made by ?is section %all apply to agreem5ts execut$ or modifi$ on or aft] ! date t is #cj days aft] ! date ( ! enactm5t ( ?is ,act4 7#b7 ,public use requirem5t ,! am5dm5ts made by subsection 7c7 %all apply to build+s plac$ 9 s]vice be=e1 on1 or aft] ! date ( ! enactm5t ( ?is ,act4 #aabjf4 ,cl>ification ( g5]al public use requirem5t relat+ to vet]ans1 etc 7a7 ,9 g5]al ,p>agraph 7#i7 ( section #db7;g71 z am5d$ by section #aabje1 is fur!r am5d$ by add+ at ! end ! foll[+ flu% language3 ,any vet]an ( ! ,arm$ ,=ces %all be treat$ z a memb] ( a specifi$ gr\p "u a ,f$]al program = purposes ( subp>agraph 7,b74 4 7b7 ,qualifi$ resid5tial r5tal projects ,p>agraph 7#b7 ( section #adb7;d7 is am5d$ by add+ at ! end ! foll[+ new subp>agraph3 7,f7 ,cl>ification ( g5]al public use requirem5t ,a unit %all n fail to meet ! g5]al public use requirem5t solely because ( occupancy re/rictions or pref]5ces1 if su* re/rictions or pref]5ces meet ! g5]al public use requirem5t ( section #db4 4 7c7 ,effective dates 7#a7 ,9 g5]al ,! am5dm5t made by subsection 7a7 %all apply to build+s plac$ 9 s]vice be=e1 on1 or aft] ! date ( ! enactm5t ( ?is ,act4 7#b7 ,qualifi$ resid5tial r5tal projects ,! am5dm5t made by subsection 7b7 %all apply to bonds issu$ be=e1 on1 or aft] ! date ( ! enactm5t ( ?is ,act4 #c ,rules relat+ to cr$it eligibility & det]m9ation #aacja4 ,recon/ruction or replacem5t p]iod aft] casualty loss 7a7 ,no recapture foll[+ casualty loss ,subp>agraph 7,e7 ( section #db7;j77#d7 is am5d$ to read z foll[s3 7,e7 ,no recapture by reason ( casualty loss 7i7 ,9 g5]al ,! increase 9 tax "u ?is subsection %all n apply to a r$uction 9 qualifi$ basis by reason ( a casualty loss to ! ext5t su* loss is re/or$ by recon/ruction or replacem5t )9 a reasonable p]iod e/abli%$ by ! applicable h\s+ cr$it ag5cy1 n to exce$ #be mon?s f ! date on :i* ! qualifi$ casualty loss arises4 7ii7 ,qualifi$ casualty losses ,9 ! case ( a qualifi$ casualty loss1 ! p]iod describ$ 9 clause 7i7 may be ext5d$1 b n 9 excess ( #ab mon?s1 if ! applicable h\s+ cr$it ag5cy det]m9es ! qualifi$ casualty arose by reason ( an ev5t :i* 0 n discrete to ! build+ & :i* made a recon/ruction or replacem5t )9 #be mon?s impractical4 ,9 ! ev5t ! applicable h\s+ cr$it ag5cy det]m9es a p]iod 9 excess ( #be mon?s is necess>y = su* recon/ruction or replacem5t1 ! compliance p]iod %all be increas$ by any su* additional "t4 7iii7 ,application ,! det]m9ation "u p>agraph 7#a7 %all n be made ) respect to a prop]ty ! basis ( :i* is affect$ by a qualifi$ casualty loss until ! p]iod describ$ 9 clause 7i7 7z modifi$ by clause 7ii71 if applicable7 ) respect to su* prop]ty has expir$4 7iv7 ,qualifi$ casualty loss ,= purposes ( ?is subp>agraph1 ! t]m qualifi$ casualty loss means a casualty loss t is ! result ( a f$]ally decl>$ disa/] 7z def9$ 9 section #afe7;i77#e774 4 7b7 ,qualifi$ basis foll[+ casualty loss ,p>agraph 7#a7 ( section #db7;c7 is am5d$ by add+ at ! end ! foll[+ new subp>agraph3 7,f7 ,qualifi$ basis foll[+ casualty loss ,if a casualty causes ! qualifi$ basis ( a build+ 9 any ye> to be less ?an ! qualifi$ basis 9 ! imm$iately prec$+ ye> !n1 9 ! ye> ( su* casualty & ea* succe$+ ye> until su* build+ or ! units affect$ by ! casualty are recon/ruct$ or replac$ 7b only ?r\gh ! la/ ye> ( ! p]iod p]mitt$ = recon/ruction or replacem5t "u subsection 7j77#d77;,e77-- 7i7 ! qualifi$ basis ( su* build+ %all be equal to ! qualifi$ basis ( su* build+ z ( ! la/ day ( ! ye> prec$+ ! ye> 9 :i* su* casualty occurr$1 7ii7 if su* build+ is n recon/ruct$ or replac$ by ! expiration ( ! applicable p]iod = su* recon/ruction or replacem5t "u subsection 7j77#d71 !n ! recapture am\nt provid$ = 9 subsection 7j77#a7 %all include ! am\nt ( any cr$it claim$ "u ?is section by reason ( ! application ( clause 7i71 & 7iii7 a build+ :i* 0 a qualifi$ l[-income build+ z ( ! la/ day ( ! ye> prec$+ ! ye> 9 :i* su* casualty occurr$ %all n cease to be a qualifi$ l[-income build+ solely because ( su* casualty4 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to casualties occurr+ aft] ,decemb] #ca1 #bjbe4 #aacjb4 ,modification ( previ\s own]%ip rules2 limitation on acquisition basis 7a7 ,9 g5]al ,clause 7ii7 ( section #db7;d77#b77;,b7 is am5d$ by ins]t+ 1 or ! taxpay] elects ! application ( subp>agraph 7,c77ii7 aft] s]vice4 7b7 ,limitation on acquisition basis ,subp>agraph 7,c7 ( section #db7;d77#b7 is am5d$-- 7#a7 by /rik+ ,= purposes ( subp>agraph 7,a71 ! adju/$ basis & ins]t+ 8,= purposes ( subp>agraph 7,a7-- 7i7 ,9 g5]al ,! adju/$ basis 1 & 7#b7 by add+ at ! end ! foll[+ new clauses3 7ii7 ,build+s 9 s]vice )9 previ\s #aj ye>s ,if ! p]iod betwe5 ! date ( acquisition ( ! build+ by ! taxpay] & ! date ! build+ 0 la/ plac$ 9 s]vice is less ?an #aj ye>s1 ! taxpay]'s basis attributable to ! acquisition ( ! build+ :i* is tak5 into acc\nt 9 det]m9+ ! adju/$ basis %all n exce$ ! sum (-- 7,i7 ! l[e/ am\nt paid = acquisition ( ! build+ by any p]son dur+ ! #aj ye>s prec$+ ! date ( ! acquisition ( ! build+ by ! taxpay]1 adju/$ z provid$ 9 clause 7iii71 & 7,,ii7 ! value ( any capital improvem5ts made by ! p]son :o sells ! build+ to ! taxpay] :i* are reflect$ 9 su* sell]'s basis4 7iii7 ,adju/m5t ,) respect to a basis det]m9ation made 9 any taxable ye>1 ! am\nt describ$ 9 clause 7ii77,i7 %all be increas$ by an am\nt equal to-- 7,i7 su* am\nt1 multipli$ by 7,,ii7 a co/-(-liv+ adju/m5t1 det]m9$ 9 ! same mann] z "u section #a7;f77#c7 = ! cal5d> ye> 9 :i* ! taxable ye> beg9s by tak+ into acc\nt ! acquisition ye> 9 lieu ( cal5d> ye> #aiib4 ,= purposes ( ! prec$+ s5t5ce1 ! acquisition ye> is ! cal5d> ye> 9 :i* ! l[e/ am\nt ref]5c$ 9 clause 7ii77,i7 0 paid = ! acquisition ( ! build+4 4 7c7 ,con=m+ am5dm5ts ,clause 7i7 ( section #db7;d77#b77;,d7 is am5d$-- 7#a7 by /rik+ = subp>agraph 7,b7 9 ! head+1 & 7#b7 by /rik+ subp>agraph 7,b77ii7 9 ! matt] prec$+ subclause 7,i7 & ins]t+ subp>agraph 7,b77ii7 or 7,c77ii74 7d7 ,modification ( plac$ 9 s]vice rule ,clause 7iii7 ( section #db7;d77#b77;,b7 is am5d$ to read z foll[s3 7iii7 ! build+ 0 n own$ by ! taxpay] or by any p]son relat$ 7z ( ! date ( acquisition by ! taxpay]7 to ! taxpay] at any "t dur+ ! #e-ye> p]iod end+ on ! date ( acquisition by ! taxpay]1 & 4 7e7 ,effective date ,! am5dm5ts made by ?is section %all apply to build+s plac$ 9 s]vice aft] ,decemb] #ca1 #bjbe4 #aacjc4 ,c]ta9 relocation co/s tak5 into acc\nt z rehabilitation exp5ditures 7a7 ,9 g5]al ,p>agraph 7#b7 ( section #db7;e7 is am5d$ by add+ at ! end ! foll[+ new subp>agraph3 7,c7 ,c]ta9 relocation co/s ,9 ! case ( a rehabilitation ( a build+ to :i* section #bhj;,b does n apply1 co/s relat+ to ! relocation ( occupants1 includ+-- 7i7 am\nts paid to occupants1 7ii7 am\nts paid to ?ird p>ties = s]vices relat+ to su* relocation1 & 7iii7 am\nts paid = tempor>y h\s+ = occupants1 %all be treat$ z *>geable to capital acc\nt & tak5 into acc\nt z rehabilitation exp5ditures4 4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to exp5ditures paid or incurr$ aft] ,decemb] #ca1 #bjbe4 7c7 ,no inf]5ce ,no?+ 9 ! am5dm5t made by ?is section %all be con/ru$ to create any inf]5ce ) respect to ! treatm5t ( relocation co/s paid or incurr$ be=e ,janu>y #a1 #bjbf4 #aacjd4 ,repeal ( qualifi$ c5sus tract population cap 7a7 ,9 g5]al ,clause 7ii7 ( section #db7;d77#e77;,b7 is am5d$-- 7#a7 by /rik+ subclauses 7,,ii7 & 7,,iii71 & 7#b7 by /rik+ 8,qualifi$ c5sus tract4-- 7,i7 ,9 g5]al ,! t]m 1 & ins]t+ ,qualifi$ c5sus tract4--,! t]m4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to designations ( qualifi$ c5sus tracts "u section #db7;d77#e77;,b77ii7 ( ! ,int]nal ,rev5ue ,code ( #aihf aft] ,decemb] #ca1 #bjbe4 #aacje4 ,det]m9ation ( community revitalization plan to be made by h\s+ cr$it ag5cy 7a7 ,9 g5]al ,subclause 7,,iii7 ( section #db7m77#a77;,b77ii7 is am5d$ by ins]t+ 1 z det]m9$ by ! h\s+ cr$it ag5cy accord+ to crit]ia e/abli%$ by su* ag5cy1 aft] 7d77#e77;,b77ii77 &4 7b7 ,crit]ia ,p>agraph 7#a7 ( section #db7m7 is am5d$ by add+ at ! end ! foll[+ new subp>agraph3 7,e7 ,crit]ia = det]m9ation relat+ to conc]t$ community revitalization plan ,= purposes ( subp>agraph 7,b77ii77,,iii71 ! crit]ia :i* %all be e/abli%$ by a h\s+ cr$it ag5cy = det]m9+ :e!r ! developm5t ( a project contributes to a conc]t$ community developm5t plan %all take into acc\nt any factors ! ag5cy deems appropriate1 includ+ ! ext5t to :i* ! propos$ plan-- 7i7 is geographically specific1 7ii7 outl9es a cle> plan = implem5tation & goals = outcomes1 7iii7 includes a /rategy = apply+ = or obta9+ commitm5ts ( public or private inve/m5t 7or bo?7 9 nonh\s+ infra/ructure1 am5ities1 or s]vices1 & 7iv7 demon/rates ! ne$ = community revitalization4 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to allocations ( h\s+ cr$it doll> am\nts made "u qualifi$ allocation plans 7z def9$ 9 section #db7m77#a77;,b7 ( ! ,int]nal ,rev5ue ,code ( #aihf7 adopt$ aft] ,decemb] #ca1 #bjbe4 #aacjf4 ,prohibition ( local approval & contribution requirem5ts 7a7 ,9 g5]al ,p>agraph 7#a7 ( section #db7m71 z am5d$ by section #aacje1 is fur!r am5d$-- 7#a7 by /rik+ clause 7ii7 ( subp>agraph 7,a7 & by r$esignat+ clauses 7iii7 & 7iv7 !re( z clauses 7ii7 & 7iii71 & 7#b7 by add+ at ! end ! foll[+ new subp>agraph3 7,f7 ,local approval or contribution n tak5 into acc\nt ,! selection crit]ia "u a qualifi$ allocation plan %all n include consid]ation (-- 7i7 any support or opposition ) respect to ! project f local or elect$ (ficials1 or 7ii7 any local gov]nm5t contribution to ! project1 except to ! ext5t su* contribution is tak5 into acc\nt z "p ( a broad] consid]ation ( ! project's ability to lev]age outside fund+ s\rces1 & is n prioritiz$ ov] any o!r s\rce ( outside fund+4 4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to allocations ( h\s+ cr$it doll> am\nts made "u qualifi$ allocation plans 7z def9$ 9 section #db7m77#a77;,b7 ( ! ,int]nal ,rev5ue ,code ( #aihf7 adopt$ aft] ,decemb] #ca1 #bjbe4 #aacjg4 ,increase 9 cr$it = c]ta9 projects designat$ to s]ve extremely l[-income h\seholds 7a7 ,9 g5]al ,p>agraph 7#e7 ( section #db7;d7 is am5d$ by add+ at ! end ! foll[+ new subp>agraph3 7,c7 ,increase 9 cr$it = projects designat$ to s]ve extremely l[-income h\seholds ,9 ! case ( any build+-- 7i7 #bj p]c5t or m ( ! resid5tial units 7det]m9$ z if ! imput$ income limitation applicable to su* units 7 #cj p]c5t ( area m$ian gross income7 9 :i* are designat$ by ! taxpay] = occupancy by h\seholds ! aggregate h\sehold income ( :i* does n exce$ ! great] (-- 7,i7 #cj p]c5t ( area m$ian gross income1 or 7,,ii7 #ajj p]c5t ( an am\nt equal to ! ,f$]al pov]ty l9e 7)9 ! mean+ ( section #cf;,b7d77#c771 & 7ii7 :i* is designat$ by ! h\s+ cr$it ag5cy z requir+ ! increase 9 cr$it "u ?is subp>agraph 9 ord] = su* build+ to be f9ancially feasible z "p ( a qualifi$ l[-income h\s+ project1 subp>agraph 7,b7 %all n apply to ! portion ( su* build+ :i* is compris$ ( su* units 7det]m9$ 9 a mann] simil> to ! unit fraction "u subsection 7c77#a77;,c771 & ! eligible basis ( su* portion ( ! build+ %all be #aej p]c5t ( su* basis det]m9$ )\t reg>d to ?is subp>agraph4 4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to build+s :i* receive allocations ( h\s+ cr$it doll> am\nt aft] ! date ( enactm5t ( ?is ,act1 or 9 ! case ( build+s t are describ$ 9 section #db7;h77#d77;,b7 ( ! ,int]nal ,rev5ue ,code ( #aihf1 = obligations t are "p ( an issue ! issue date ( :i* is aft] ,decemb] #ca1 #bjbe4 #aacjh4 ,increase 9 cr$it = bond-f9anc$ projects designat$ by ,/ate ag5cy 7a7 ,9 g5]al ,clause 7v7 ( section #db7;d77#e77;,b7 is am5d$ by /rik+ ! second s5t5ce4 7b7 ,te*nical am5dm5t ,clause 7v7 ( section #db7;d77#e77;,b71 z am5d$ by subsection 7a71 is fur!r am5d$-- 7#a7 by /rik+ ,/ate 9 ! head+1 & 7#b7 by /rik+ ,/ate h\s+ cr$it ag5cy & ins]t+ h\s+ cr$it ag5cy4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to build+s t are describ$ 9 section #db7;h77#d77;,b7 ( ! ,int]nal ,rev5ue ,code ( #aihf1 tak+ into acc\nt only obligations t are "p ( an issue ! issue date ( :i* is aft] ,decemb] #ca1 #bjbe4 #aacji4 ,elim9ation ( basis r$uction = l[-income h\s+ prop]ties en]gy effici5t comm]cial build+ d$uction 7a7 ,en]gy effici5t comm]cial build+s d$uction ,subsection 7e7 ( section #agi;,d is am5d$-- 7#a7 by /rik+ r$uction4--,= purposes & ins]t+ 8r$uction4-- 7#a7 ,9 g5]al ,= purposes 1 & 7#b7 by add+ at ! end ! foll[+ new p>agraph3 7#b7 ,exception = af=dable h\s+ prop]ties ,p>agraph 7#a7 %all n apply = purposes ( det]m9+ eligible basis "u section #db4 4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to build+s :i* receive allocations ( h\s+ cr$it doll> am\nt aft] ! date ( ! enactm5t ( ?is ,act & to build+s t are describ$ 9 section #db7;h77#d77;,b7 ( ! ,int]nal ,rev5ue ,code ( #aihf tak+ into acc\nt only obligations t are "p ( an issue ! issue date ( :i* is aft] ,decemb] #ca1 #bjbe4 #aacaj4 ,re/riction ( plann$ =eclosures 7a7 ,9 g5]al ,subclause 7,i7 ( section #db7;h77#f77;,e77i7 is am5d$ to read z foll[s3 7,i7 on ! #fa/ day aft] ! taxpay] 7or a successor 9 int]e/7 provides notice to ! ,secret>y & ! h\s+ cr$it ag5cy t ! build+ has be5 acquir$ by =eclosure 7or in/rum5t 9 lieu ( =eclosure7 & t ! taxpay] int5ds ! t]m9ation ( su* p]iod1 unless1 be=e su* date1 ! ,secret>y or ! h\s+ cr$it ag5cy det]m9es t su* acquisition is "p ( an arrangem5t ) ! taxpay] a purpose ( :i* is to t]m9ate su* p]iod1 or 4 7b7 ,con=m+ am5dm5t ,! second s5t5ce ( clause 7i7 ( section #db7;h77#f77;,e7 is am5d$ by /rik+ ,subclause 7,,ii7 & ins]t+ ,subclauses 7,i7 & 7,,ii74 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to acquisitions by =eclosure 7or in/rum5t 9 lieu ( =eclosure7 aft] ,decemb] #ca1 #bjbe4 #aacaa4 ,increase ( population cap = difficult developm5t areas 7a7 ,9 g5]al ,subclause 7,,ii7 ( section #db7;d77#e77;,b77iii7 is am5d$ by /rik+ #bj p]c5t & ins]t+ #cj p]c5t4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to designations made "u section #db7;d77#e77;,b77iii7 ( ! ,int]nal ,rev5ue ,code ( #aihf aft] ,decemb] #ca1 #bjbe4 #aacab4 ,increas$ co/ ov]sight & acc\ntability 7a7 ,9 g5]al ,subp>agraph 7,c7 ( section #db7m77#a7 is am5d$ by /rik+ & at ! end ( clause 7ix71 by /rik+ ! p]iod at ! end ( clause 7x7 & ins]t+ 1 &1 & by add+ at ! end ! foll[+ new clause3 7xi7 ! reasonabl5ess ( ! developm5t co/s ( ! project4 4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to allocations ( cr$its "u section #db ( ! ,int]nal ,rev5ue ,code ( #aihf made aft] ,decemb] #ca1 #bjbe4 #d ,re=ms relat+ to ,native ,am]ican assi/ance #aadja4 ,selection crit]ia "u qualifi$ allocation plans 7a7 ,9 g5]al ,subp>agraph 7,c7 ( section #db7m77#a71 z am5d$ by section #aacab1 is fur!r am5d$ by /rik+ & at ! end ( clause 7x71 by /rik+ ! p]iod at ! end ( clause 7xi7 & ins]t+ 1 &1 & by add+ at ! end ! foll[+ new clause3 7xii7 ! af=dable h\s+ ne$s ( individuals 9 ! ,/ate :o are-- 7,i7 enroll$ memb]s ( a tribe ) respect to an ,indian tribal gov]nm5t 7includ+ any ag5cies or in/rum5talities ( an ,indian tribal gov]nm5t & any ,alaska ,native regional or village corporation1 z def9$ 91 or e/abli%$ pursuant to1 ! ,alaska ,native ,claims ,settlem5t ,act 7#dc ,u4,s4,c4 #afja et seq4771 or 7,,ii7 describ$ 9 section #hja7i7 ( ! ,native ,am]ican ,h\s+ ,assi/ance & ,self-,det]m9ation ,act ( #aiif 7#be ,u4,s4,c4 #dbba7i774 4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to allocations ( cr$its "u section #db ( ! ,int]nal ,rev5ue ,code ( #aihf made aft] ,decemb] #ca1 #bjbe4 #aadjb4 ,inclusion ( ,indian areas z difficult developm5t areas = purposes ( c]ta9 build+s 7a7 ,9 g5]al ,subclause 7,i7 ( section #db7;d77#e77;,b77iii7 is am5d$ by ins]t+ be=e ! p]iod ! foll[+3 1 & any ,indian area4 7b7 ,indian area ,clause 7iii7 ( section #db7;d77#e77;,b7 is am5d$ by r$esignat+ subclause 7,,ii7 z subclause 7,,iii7 & by ins]t+ aft] subclause 7,i7 ! foll[+ new subclause3 7,,ii7 ,indian area ,= purposes ( subclause 7,i71 ! t]m ,indian area means any ,indian area 7z def9$ 9 section #d7aa7 ( ! ,native ,am]ican ,h\s+ ,assi/ance & ,self ,det]m9ation ,act ( #aiif 7#be ,u4,s4,c4 #dajc7aa777 & any h\s+ area 7z def9$ 9 section #hja7e7 ( su* ,act 7#be ,u4,s4,c4 #dbba7e7774 4 7c7 ,eligible build+s ,clause 7iii7 ( section #db7;d77#e77;,b71 z am5d$ by subsection 7b71 is fur!r am5d$ by add+ at ! end ! foll[+ new subclause3 7,,iv7 ,special rule = build+s 9 ,indian areas ,9 ! case ( an area :i* is a difficult developm5t area solely because x is an ,indian area1 a build+ %all n be treat$ z locat$ 9 su* area unless su* build+ is assi/$ or f9anc$ "u ! ,native ,am]ican ,h\s+ ,assi/ance & ,self ,det]m9ation ,act ( #aiif 7#be ,u4,s4,c4 #daja et seq47 or ! project sponsor is an ,indian tribe 7z def9$ 9 section #de;,a7c77#f771 a tribally designat$ h\s+ entity 7z def9$ 9 section #d7bb7 ( su* ,act 7#be ,u4,s4,c4 #dajc7bb7771 or :olly own$ or controll$ by su* an ,indian tribe or tribally designat$ h\s+ entity4 4 7d7 ,effective date ,! am5dm5ts made by ?is section %all apply to build+s plac$ 9 s]vice aft] ,decemb] #ca1 #bjbe4 #e ,re=ms relat+ to rural assi/ance #aaeja4 ,inclusion ( rural areas z difficult developm5t areas 7a7 ,9 g5]al ,subclause 7,i7 ( section #db7;d77#e77;,b77iii71 z am5d$ by section #aadjb1 is fur!r am5d$ by ins]t+ 1 any rural area aft] m$ian gross income4 7b7 ,rural area ,clause 7iii7 ( section #db7;d77#e77;,b71 z am5d$ by section #aadjb1 is fur!r am5d$ by r$esignat+ subclause 7,,iii7 z subclause 7,,iv7 & by ins]t+ aft] subclause 7,,ii7 ! foll[+ new subclause3 7,,iii7 ,rural area ,= purposes ( subclause 7,i71 ! t]m rural area means any non-metropolitan area1 or any rural area z def9$ by section #ebj ( ! ,h\s+ ,act ( #aidi1 :i* is id5tifi$ by ! qualifi$ allocation plan "u subsection 7m77#a77;,b74 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to build+s plac$ 9 s]vice aft] ,decemb] #ca1 #bjbe4 #aaejb4 ,uni=m income eligibility = rural projects 7a7 ,9 g5]al ,p>agraph 7#h7 ( section #db7;i7 is am5d$ by /rik+ ! second s5t5ce4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbe4 #f ,exempt facility bonds #aafja4 ,revision & cl>ification ( ! treatm5t ( refund+ issues 7a7 ,9 g5]al ,subp>agraph 7,a7 ( section #adf7;i77#f7 is am5d$ to read z foll[s3 7,a7 ,9 g5]al ,dur+ ! #ab-mon? p]iod beg9n+ on ! date ( a repaym5t ( a loan f9anc$ by an issue #ie p]c5t or m ( ! net proce$s ( :i* are us$ to provide projects describ$ 9 section #adb7;d71 if su* repaym5t is us$ to provide a new loan = any project describ$ 9 section #adb7;a77#g7 or = any purpose describ$ 9 subsection 7a77#b77;,a7 or 7b7 ( section #adc1 any bond :i* is issu$ to ref9ance su* issue %all be treat$ z a refund+ issue4 ,any issue treat$ z a refund+ issue by reason ( ! prec$+ s5t5ce %all be s treat$ only to ! ext5t ! pr9cipal am\nt ( su* refund+ issue does n exce$ ! pr9cipal am\nt ( ! bonds refund$4 4 7b7 ,removal ( "o-,refund+ limit ,subp>agraph 7,b7 ( section #adf7;i77#f7 is am5d$-- 7#a7 by /rik+ #d ye>s 9 clause 7i7 & ins]t+ #aj ye>s1 7#b7 by /rik+ 0 issu$ 9 clause 7ii7 & ins]t+ is issu$1 7#c7 by r$esignat+ clauses 7i7 7z s am5d$71 7ii7 7z s am5d$71 & 7iii7 z subclauses 7,i71 7,,ii71 & 7,,iii71 respectively1 & by mov+ su* subclauses #b ems to ! "r1 7#d7 by /rik+ ,limitations4--,subp>agraph 7,a7 %all apply to only "o refund+ ( ! orig9al issue & & ins]t+ 8,limitations4-- 7i7 ,9 g5]al ,subp>agraph 7,a7 %all apply to a bond 1 & 7#e7 by add+ at ! end ! foll[+ new clause3 7ii7 ,s\rce ( loan repaym5t ,subp>agraph 7,a7 %all n apply to any repaym5t ( a loan :i* is-- 7,i7 made by a repaym5t ( ano!r loan1 or 7,,ii7 f9anc$ by an issue treat$ z a refund+ issue "u subp>agraph 7,a74 4 7c7 ,con=m+ am5dm5t ,! head+ ( p>agraph 7#f7 ( section #adf7;i7 is am5d$ by /rik+ resid5tial r5tal project bonds z refund+ bonds irrespective ( obligor & ins]t+ bonds z refund+ bonds4 7d7 ,effective dates 7#a7 ,9 g5]al ,! am5dm5ts made by subsections 7a7 & 7c7 %all apply to refund+ issues describ$ 9 section #adf7;i77#f77;,a7 ( ! ,int]nal ,rev5ue ,code ( #aihf issu$ on or aft] ! date ( ! enactm5t ( ?is ,act4 7#b7 ,removal ( "o-refund+ limit ,! am5dm5ts made by subsection 7b7 %all apply to repaym5ts ( loans receiv$ aft] ,july #cj1 #bjjh4 #g ,re=ms relat+ to disabl$ vet]ans #aagja4 ,treatm5t ( vet]an disability comp5sation or p5sion paym5ts = purposes ( l[ income h\s+ tax cr$it & resid5tial r5tal project bonds 7a7 ,9 g5]al ,section #adb7;d77#b77;,b7 is am5d$ by add+ at ! end ! foll[+ new clause3 7v7 ,vet]an disability comp5sation or p5sion ,= purposes ( det]m9+ income "u ?is subp>agraph1 paym5ts ( disability comp5sation or p5sion "u *apt] #aa or #ae ( title #ch1 ,unit$ ,/ates ,code1 %all be disreg>d$4 4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to det]m9ations made aft] ! date ( ! enactm5t ( ?is ,act4 #h ,re=ms relat+ to c]ta9 o!r populations #aahja4 ,additional h\s+ cr$it allocations = c]ta9 populations :o face unique b>ri]s to af=dable h\s+ 7a7 ,9 g5]al ,section #db ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by r$esignat+ subsection 7n7 z subsection 7o7 & by ins]t+ aft] subsection 7m7 ! foll[+ new subsection3 7n7 ,additional allocation = units = c]ta9 populations :o face unique b>ri]s to af=dable h\s+ 7#a7 ,9 g5]al ,a h\s+ cr$it ag5cy may allocate1 9 any cal5d> ye>1 an am\nt equal to #e p]c5t ( ! am\nt su* h\s+ cr$it ag5cy may allocate "u subsection 7h77#c77;,c7 to projects :i* conta9 a unit describ$ 9 p>agraph 7#b74 7#b7 ,unit describ$ ,a unit is describ$ 9 ?is p>agraph if-- 7,a7 su* unit is "p ( a l[-income h\s+ project1 7,b7 ! h\s+ cr$it ag5cy & ! own] ( su* unit1 n lat] ?an ! fir/ day ( ! second ye> ( ! cr$it p]iod ( su* project1 execute a compliance agreem5t1 7,c7 ! taxpay] prioritizes populations :o face unique b>ri]s to af=dable h\s+ = occupancy ( su* units1 & 7,d7 ! taxpay]1 9 consultation ) cov]$ s]vice provid]s1 makes available to any resid5t ( su* unit appropriate supportive s]vices dur+ ! compliance p]iod4 7#c7 ,compliance agreem5t ,= purposes ( p>agraph 7#b77;,b71 ! t]m compliance agreem5t means an agreem5t :i*-- 7,a7 requires ! own] ( a unit to submit to ! h\s+ cr$it ag5cy = approval a supportive s]vice plan = ea* cal5d> ye> dur+ ! compliance p]iod1 7,b7 requires ! approval ( ! h\s+ cr$it ag5cy ) respect to any agreem5t betwe5 su* own] & any cov]$ s]vice provid] relat+ to s]vices provid$ pursuant to ?is subsection1 & 7,c7 all[s ! h\s+ cr$it ag5cy to monitor compliance ) su* agreem5t & ) ! requirem5ts ( ?is subsection4 7#d7 ,populations :o face unique b>ri]s to af=dable h\s+ ,= purposes ( ?is subsection1 ! t]m populations :o face unique b>ri]s to af=dable h\s+ means individuals :o are-- 7,a7 =m]ly ju/ice-involv$ individuals1 7,b7 curr5t or =m] fo/] y\?s1 or 7,c7 k9%ip c>egiv]s4 7#e7 ,cov]$ s]vice provid] ,= purposes ( ?is subsection1 ! t]m cov]$ s]vice provid] means any entity ) demon/rat$ exp]i5ce provid+ supportive s]vices to populations :o face unique b>ri]s to af=dable h\s+4 7#f7 ,=m]ly ju/ice-involv$ individual ,= purposes ( ?is p>agraph1 ! t]m =m]ly ju/ice-involv$ individual means an individual :o faces b>ri]s to obta9+ h\s+ z a result ( be+ arre/$1 *>g$1 or convict$ ( any crim9al (f5se4 7#g7 ,curr5t or =m] fo/] y\? ,! t]m curr5t or =m] fo/] y\? means an individual :o 0 eligible at any "t to receive s]vices "u section #dgg7;a7 ( ! ,social ,security ,act4 7#h7 ,n includ$ 9 aggregate h\s+ cr$it doll> am\nt ,an am\nt allocat$ "u p>agraph 7#a7 %all n be includ$ 9 ! aggregate h\s+ cr$it doll> am\nt = any cal5d> ye> ( ! ,/ate :i* made su* allocation4 7#i7 ,en=cem5t ,! ,secret>y %all1 9 consultation ) h\s+ cr$it ag5cies1 e/abli% su* me*anisms 7includ+ p5alties7 z ! ,secret>y det]m9es appropriate to ensure t-- 7,a7 ea* unit ) respect to :i* a cr$it is all[$ "u p>agraph 7#a7 meets ! requirem5ts describ$ 9 p>agraph 7#b71 & 7,b7 ea* h\s+ cr$it ag5cy :i* makes an allocation "u p>agraph 7#a7 is tak+ appropriate /eps to en=ce ea* compliance agreem5t to :i* su* h\s+ cr$it ag5cy is a p>ty "u p>agraph 7#c74 4 7b7 ,allocations all[$ 9 addition to ,/ate ceil+ ,section #db7;h77#a7 ( su* ,code is am5d$ by /rik+ ! h\s+ cr$it doll> am\nt allocat$ to su* build+ "u ?is subsection & ins]t+ ! sum ( ! h\s+ cr$it doll> am\nts allocat$ to su* build+ "u ?is subsection & subsection 7n74 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to cal5d> ye>s beg9n+ aft] #bjbf4 #i ,qualifi$ contracts & "r ( fir/ refusal #aaija4 ,repeal ( qualifi$ contract option 7a7 ,t]m9ation ( option = c]ta9 build+s 7#a7 ,9 g5]al ,subclause 7,,ii7 ( section #db7;h77#f77;,e77i7 is am5d$ by ins]t+ 9 ! case ( a build+ describ$ 9 clause 7iii71 be=e on ! la/ day4 7#b7 ,build+s describ$ ,subp>agraph 7,e7 ( section #db7;h77#f7 is am5d$ by add+ at ! end ! foll[+ new clause3 7iii7 ,build+s describ$ ,a build+ describ$ 9 ?is clause is a build+-- 7,i7 :i* receiv$ its allocation ( h\s+ cr$it doll> am\nt be=e ,janu>y #a1 #bjbf1 or 7,,ii7 9 ! case ( a build+ any portion ( :i* is f9anc$ z describ$ 9 p>agraph 7#d71 & :i* receiv$ be=e ,janu>y #a1 #bjbf1 "u ! rules ( p>agraphs 7#a7 & 7#b7 ( subsection 7m71 a det]m9ation f ! issu] ( ! tax-exempt bonds or ! h\s+ cr$it ag5cy t ! build+ w\ld be eligible "u ! qualifi$ allocation plan to receive an allocation ( h\s+ cr$it doll> am\nt or t ! cr$its to be e>n$ are necess>y = f9ancial feasibility ( ! project & its viability z a qualifi$ l[-income h\s+ project ?r\gh\t ! cr$it p]iod4 4 7b7 ,rules relat+ to exi/+ projects ,subp>agraph 7,f7 ( section #db7;h77#f7 is am5d$ by /rik+ ! nonl[-income portion & all t foll[s & ins]t+ ! nonl[-income portion & ! l[-income portion ( ! build+ = fair m>ket value 7det]m9$ by ! h\s+ cr$it ag5cy by tak+ into acc\nt ! r5t re/rictions requir$ = ! l[-income portion ( ! build+ to cont9ue to meet ! /&>ds ( p>agraphs 7#a7 & 7#b7 ( subsection 7g774 ,! ,secret>y %all prescribe su* regulations z may be necess>y or appropriate to c>ry out ?is p>agraph44 7c7 ,con=m+ am5dm5ts 7#a7 ,p>agraph 7#f7 ( section #db7;h7 is am5d$ by /rik+ subp>agraph 7,g7 & by r$esignat+ subp>agraphs 7,h71 7,i71 7,j71 & 7,k7 z subp>agraphs 7,g71 7,h71 7,i71 & 7,j71 respectively4 7#b7 ,subclause 7,,ii7 ( section #db7;h77#f77;,e77i7 is am5d$ by /rik+ subp>agraph 7,i7 & ins]t+ subp>agraph 7,h74 7d7 ,effective dates 7#a7 ,9 g5]al ,except z provid$ 9 p>agraph 7#b71 ! am5dm5ts made by ?is section %all take effect on ! date ( ! enactm5t ( ?is ,act4 7#b7 ,subsection 7b7 ,! am5dm5ts made by subsection 7b7 %all apply to build+s ) respect to :i* a writt5 reque/ describ$ 9 section #db7;h77#f77;,h7 ( ! ,int]nal ,rev5ue ,code ( #aihf1 z r$esignat$ by subsection 7c71 is submitt$ aft] ! date ( ! enactm5t ( ?is ,act4 #aaijb4 ,modification & cl>ification ( rights relat+ to build+ pur*ase 7a7 ,modification ( "r ( fir/ refusal 7#a7 ,9 g5]al ,subp>agraph 7,a7 ( section #db7;i77#g7 is am5d$ by /rik+ a "r ( #a/ refusal & ins]t+ an option4 7#b7 ,con=m+ am5dm5t ,! head+ ( p>agraph 7#g7 ( section #db7;i7 is am5d$ by /rik+ "r ( #a/ refusal & ins]t+ option4 7b7 ,cl>ification ) respect to "r ( fir/ refusal & pur*ase options 7#a7 ,pur*ase ( p>tn]%ip int]e/ 7,a7 ,9 g5]al ,subp>agraph 7,a7 ( section #db7;i77#g71 z am5d$ by subsection 7a71 is am5d$ by /rik+ ! prop]ty & ins]t+ ! prop]ty or all ( ! p>tn]%ip int]e/s 7o!r ?an int]e/s ( ! p]son ex]cis+ su* option or a relat$ p>ty !reto 7)9 ! mean+ ( section #bfg7;b7 or #gjg7;b77#a777 relat+ to ! prop]ty4 7,b7 ,application to ,s corporations & o!r pass-?r\gh entities ,subp>agraph 7,a7 ( section #db7;i77#g7 is am5d$ by add+ at ! end ! foll[+3 ,except z provid$ by ! ,secret>y1 ! rules ( ?is p>agraph %all apply to ,s corporations & o!r pass-?r\gh entities 9 ! same mann] z su* rules apply to p>tn]%ips44 7,c7 ,con=m+ am5dm5t ,subp>agraph 7,b7 ( section #db7;i77#g7 is am5d$ by add+ at ! end ! foll[+3 ,9 ! case ( a pur*ase ( all ( ! p>tn]%ip int]e/s1 ! m9imum pur*ase price "u ?is subp>agraph %all be an am\nt n less ?an ! sum ( ! int]e/s' %>es ( ! am\nt :i* w\ld be det]m9$ ) respect to ! prop]ty "u ?is subp>agraph )\t reg>d to ?is s5t5ce44 7#b7 ,prop]ty includes assets relat+ to ! build+ ,p>agraph 7#g7 ( section #db7;i7 is am5d$ by add+ at ! end ! foll[+ new subp>agraph3 7,c7 ,prop]ty ,= purposes ( subp>agraph 7,a71 ! t]m prop]ty may include all or any ( ! assets held = ! developm5t1 op]ation1 or ma9t5ance ( a build+4 4 7#c7 ,ex]cise ( "r ( fir/ refusal & pur*ase options ,subp>agraph 7,a7 ( section #db7;i77#g71 z am5d$ by subsection 7a7 & p>agraph 7#a77;,a71 is am5d$ by add+ at ! end ! foll[+3 8,= purposes ( det]m9+ :e!r an option1 includ+ a "r ( fir/ refusal1 to pur*ase prop]ty or all ( ! p>tn]%ip int]e/s hold+ 7directly or indirectly7 su* prop]ty is describ$ 9 ! prec$+ s5t5ce-- 7i7 su* option or "r ( fir/ refusal %all be ex]cisable ) or )\t ! approval ( any own] ( ! project 7includ+ any p>tn]1 memb]1 or affiliat$ organization ( su* an own]71 & 7ii7 a "r ( fir/ refusal %all be ex]cisable 9 response to any (f] to pur*ase ! prop]ty or all ( ! p>tn]%ip int]e/s1 includ+ an (f] by a relat$ p>ty4 4 7c7 ,o!r con=m+ am5dm5t ,subp>agraph 7,b7 ( section #db7;i77#g71 z am5d$ by subsection 7b71 is am5d$ by /rik+ ! sum ( & all t foll[s ?r\gh application ( clause 7ii74 & ins]t+ ! foll[+3 ! pr9cipal am\nt ( out/&+ indebt$ness secur$ by ! build+ 7o!r ?an indebt$ness incurr$ )9 ! #e-ye> p]iod end+ on ! date ( ! sale to ! t5ants744 7d7 ,effective dates 7#a7 ,modification ( "r ( fir/ refusal ,! am5dm5ts made by subsections 7a7 & 7c7 %all apply to agreem5ts ent]$ into or am5d$ aft] ! date ( ! enactm5t ( ?is ,act4 7#b7 ,cl>ification ,! am5dm5ts made by subsection 7b7 %all apply to agreem5ts among ! own]s ( ! project 7includ+ p>tn]s1 memb]s1 & _! affiliat$ organizations7 & p]sons describ$ 9 section #db7;i77#g77;,a7 ( ! ,int]nal ,rev5ue ,code ( #aihf ent]$ into be=e1 on1 or aft] ! date ( ! enactm5t ( ?is ,act4 7#c7 ,no effect on agreem5ts ,none ( ! am5dm5ts made by ?is section is int5d$ to sup]s$e express language 9 any agreem5t ) respect to ! t]ms ( a "r ( fir/ refusal or option p]mitt$ by section #db7;i77#g7 ( ! ,int]nal ,rev5ue ,code ( #aihf 9 effect on ! date ( ! enactm5t ( ?is ,act4 ,b ,additional h\s+ inc5tives #abjja4 ,inve/m5t cr$it = conv]sion ( non-resid5tial build+s to af=dable h\s+ 7a7 ,9 g5]al ,subp>t ,e ( "p ,,iv ( sub*apt] ,a ( *apt] #a is am5d$ by ins]t+ aft] section #dh;,e ! foll[+ new section3 #dh;,f4 ,af=dable h\s+ conv]sion cr$it 7a7 ,all[ance ( cr$it ,= purposes ( section #df1 ! af=dable h\s+ conv]sion cr$it = any taxable ye> is an am\nt equal to #bj p]c5t ( ! qualifi$ conv]sion exp5ditures ( ! taxpay] ) respect to a qualifi$ af=dable h\s+ build+ plac$ 9 s]vice by ! taxpay] dur+ ! taxable ye>4 7b7 ,qualifi$ conv]sion exp5ditures ,= purposes ( ?is section-- 7#a7 ,9 g5]al ,! t]m qualifi$ conv]sion exp5ditures means1 ) respect to any qualifi$ af=dable h\s+ build+1 any am\nt prop]ly *>geable to capital acc\nt-- 7,a7 = prop]ty = :i* depreciation is all[able "u section #afh1 & 7,b7 9 connection ) ! qualifi$ conv]sion ( a qualifi$ af=dable h\s+ build+4 7#b7 ,c]ta9 exp5ditures n includ$ ,! t]m qualifi$ conv]sion exp5ditures does n include-- 7,a7 ,limitation on p]iod ( conv]sion ,except z provid$ 9 subsection 7f71 any am\nt paid or incurr$ o!r ?an dur+ ! #b-ye> p]iod end+ on ! date on :i* ! taxpay] places ! qualifi$ af=dable h\s+ build+ 9 s]vice4 7,b7 ,co/ ( acquisition ,! co/ ( acquir+ any build+ or int]e/ !re94 7#c7 ,special rule = br[nfields ,p>agraph 7#a77;,a7 %all n apply ) respect to any exp5diture = clean up ( qualify+ br[nfield prop]ty 7z def9$ 9 section #eab7;b77#ai774 7#d7 ,coord9ation ) rehabilitation cr$it ,9 ! case ( any qualifi$ conv]sion exp5ditures :i* are tak5 into acc\nt = purposes ( det]m9+ ! rehabilitation cr$it "u section #dg1 ! am\nt ( su* exp5ditures tak5 into acc\nt "u ?is section 7det]m9$ )\t reg>d to ?is p>agraph7 %all be r$uc$ by #ej p]c5t4 7c7 ,qualifi$ conv]sion ,= purposes ( ?is section-- 7#a7 ,9 g5]al ,! t]m qualifi$ conv]sion means ! conv]sion ( an eligible comm]cial build+ into a qualifi$ af=dable h\s+ build+ if ! qualifi$ conv]sion exp5ditures ( ! taxpay] ) respect to su* conv]sion exce$ ! great] (-- 7,a7 an am\nt equal to #ej p]c5t ( ! adju/$ basis ( su* build+ 7det]m9$ imm$iately prior to su* conv]sion71 or 7,b7 #ajj1jjj4 7#b7 ,eligible comm]cial build+ ,! t]m eligible comm]cial build+ means any build+ :i*1 ) respect to any conv]sion-- 7,a7 0 orig9ally plac$ 9 s]vice n less ?an #bj ye>s be=e ! date on :i* su* conv]sion beg9s1 & 7,b7 imm$iately prior to su* conv]sion1 0 nonresid5tial real prop]ty 7z def9$ 9 section #afh74 7d7 ,qualifi$ af=dable h\s+ build+ ,= purposes ( ?is section-- 7#a7 ,9 g5]al ,! t]m qualifi$ af=dable h\s+ build+ means any resid5tial build+ if dur+ ! #cj-ye> p]iod beg9n+ on ! date on :i* su* build+ is plac$ 9 s]vice by ! taxpay]1 n less ?an #bj p]c5t ( ! resid5tial units 9 ! build+ are bo? r5t-re/rict$ & res]v$ = individuals ^: income is #hj p]c5t or less ( ! area m$ian income4 7#b7 ,r5t & income limitation ,= purposes ( ?is subsection1 rules simil> to ! rules ( subsection 7g7 ( section #db %all apply to det]m9e :e!r a unit is r5t-re/rict$1 treatm5t ( units occupi$ by individuals ^: incomes rise above ! limit1 & ! treatm5t ( units :]e ,f$]al r5tal assi/ance is r$uc$ z t5ant's income increases4 7e7 ,limitation on aggregate cr$it all[able 7#a7 ,cr$it may n exce$ cr$it am\nt allocat$ to build+ 7,a7 ,9 g5]al ,! am\nt ( ! cr$it det]m9$ "u ?is section ) respect to any build+ %all n exce$ ! qualifi$ conv]sion cr$it doll> am\nt allocat$ to su* build+ "u ?is subsection by ! h\s+ cr$it ag5cy ( ! ,/ate 9 :i* su* build+ is locat$4 7,b7 ,"t = mak+ allocation ,except 9 ! case ( an allocation :i* meets ! requirem5ts ( subp>agraph 7,c71 an allocation %all be tak5 into acc\nt "u subp>agraph 7,a7 only if x is made n lat] ?an ! close ( ! cal5d> ye> 9 :i* ! build+ is plac$ 9 s]vice4 7,c7 ,exception :]e b9d+ commitm5t ,an allocation meets ! requirem5ts ( ?is subp>agraph if !re is a b9d+ commitm5t 7n lat] ?an ! close ( ! cal5d> ye> 9 :i* ! build+ is plac$ 9 s]vice7 by ! h\s+ cr$it ag5cy to allocate a specifi$ h\s+ cr$it doll> am\nt to su* build+ beg9n+ 9 a lat] taxable ye>4 7#b7 ,/ate limitation 7,a7 ,9 g5]al ,! aggregate qualifi$ conv]sion cr$it doll> am\nt :i* a h\s+ cr$it ag5cy ( any ,/ate may allocate is ! sum (-- 7i7 ! am\nt :i* be>s ! same ratio to ! national qualifi$ conv]sion cr$it limitation z-- 7,i7 ! population ( su* ,/ate1 be>s to 7,,ii7 ! population ( all ,/ates1 plus 7ii7 ! sum ( any am\nts det]m9$ "u subp>agraph 7,c74 7,b7 ,national qualifi$ conv]sion cr$it limitation ,! national qualifi$ conv]sion cr$it limitation is #ab1jjj1jjj1jjj4 7,c7 ,additional am\nts provid$ = c]ta9 build+s 9 economically di/ress$ areas 7i7 ,9 g5]al ,= purposes ( subp>agraph 7,a77ii71 9 any case 9 :i*-- 7,i7 ! h\s+ cr$it ag5cy ( a ,/ate allocates an am\nt to a build+ :i* is locat$ 9 an economically di/ress$ area1 & 7,,ii7 ! ,secret>y subsequ5tly designates su* am\nt = purposes ( ?is p>agraph1 ! am\nt det]m9$ "u ?is p>agraph ) respect to su* build+ %all be ! am\nt orig9ally allocat$ by ! h\s+ cr$it ag5cy ( ! ,/ate "u clause 7i74 7ii7 ,limitation ,! aggregate am\nt :i* ! ,secret>y may designate "u clause 7i77,,ii7 %all n exce$ #c1jjj1jjj1jjj4 7iii7 ,mann] ( designation ,n lat] ?an #abj days aft] ! date ( ! enactm5t ( ?is section1 ! ,secret>y %all e/abli% a program = det]m9+ ! designation ( am\nts t may be designat$ "u ?is subp>agraph4 7,d7 ,reallocation ( c]ta9 am\nts 7i7 ,9 g5]al ,not)/&+ subp>agraph 7,a7-- 7,i7 no am\nt may be allocat$ "u p>agraph 7#a7 by a h\s+ cr$it ag5cy ( an und]subscrib$ ,/ate aft] ,decemb] #ca1 #bjbh1 & 7,,ii7 ! doll> am\nt det]m9$ "u subp>agraph 7,a7 ) respect to any ov]subscrib$ ,/ate aft] su* date %all be increas$ by su* ,/ate's %>e ( ! reallocation am\nt4 7ii7 ,/ate %>e ,= purposes ( clause 7i71 an ov]subscrib$ ,/ate's %>e ( ! reallocation am\nt is ! am\nt :i* be>s ! same ratio to ! reallocation am\nt z-- 7,i7 ! population ( su* ,/ate1 be>s to 7,,ii7 ! population ( all ov]subscrib$ ,/ates4 7iii7 ,def9itions ,= purposes ( ?is subp>agraph-- 7,i7 ,und]subscrib$ ,/ate ,! t]m und]subscrib$ ,/ate means any ,/ate t is n an ov]subscrib$ ,/ate4 7,,ii7 ,ov]subscrib$ ,/ate ,! t]m ov]subscrib$ ,/ate means any ,/ate ! h\s+ cr$it ag5cy ( :i* has allocat$ all ( ! qualifi$ conv]sion cr$it doll> am\nt :i* may be allocat$ by x be=e ! date describ$ 9 clause 7i77,i74 7,,iii7 ,reallocation am\nt ,! t]m reallocation am\nt means ! sum ( ! am\nts describ$ 9 subp>agraph 7,a7 :i* h n be5 allocat$ by und]subscrib$ ,/ates be=e ! date describ$ 9 clause 7i77,i74 7#c7 ,mann] ( allocation 7,a7 ,plan = allocation 7i7 ,9 g5]al ,not)/&+ any o!r provision ( ?is section1 ! qualifi$ conv]sion cr$it doll> am\nt ) respect to any build+ %all be z]o unless su* am\nt 0 allocat$ pursuant to a conv]sion cr$it allocation plan ( ! h\s+ cr$it ag5cy :i* is approv$ by ! gov]nm5tal unit 79 accordance ) rules simil> to ! rules ( section #adg7;f77#b7 7o!r ?an subp>agraph 7,b77ii7 !re(77 ( :i* su* ag5cy is a "p4 7ii7 ,conv]sion cr$it allocation plan ,= purposes ( ?is subp>agraph1 ! t]m conv]sion cr$it allocation plan means a plan-- 7,i7 :i* sets selection crit]ia = allocations1 tak+ into acc\nt-- 7aa7 :e!r ! cr$it is ne$$ to assure ! f9ancial feasibility ( ! conv]sion1 7bb7 ! ext5t to :i* ! conv]sion results 9 ! creation ( af=dable h\s+1 7cc7 ! ext5t to :i* ! conv]sion results 9 ! creation ( h\s+ ne> transportation1 employm5t1 & comm]cial opportunities1 7dd7 ! ext5t to :i* ! conv]sion w support small bus9esses & economic revitalization 9 ! surr\nd+ area1 7ee7 ! degree ( local gov]nm5t support = ! conv]sion1 & 7ff7 ! read9ess ( ! build+ = a qualifi$ conv]sion1 & 7,,ii7 :i* provides a proc$ure t ! ag5cy 7or an ag5t or o!r private contractor ( su* ag5cy7 w foll[ 9 monitor+ = noncompliance ) ! requirem5ts ( subsection 7d7 & 9 notify+ ! ,int]nal ,rev5ue ,s]vice ( su* noncompliance4 7,b7 ,b9d+ allocation agreem5ts2 report+ ,9 mak+ allocations ( qualifi$ conv]sion cr$it doll> am\nts1 ea* h\s+ cr$it ag5cy %all-- 7i7 ent] into b9d+ agreem5ts ) taxpay]s = ! allocation ( qualifi$ conv]sion cr$it doll> am\nts1 :i* agreem5ts %all specify ! am\nt ( qualifi$ conv]sion cr$it doll> am\nt allocat$ to ! build+ & ! t]ms = any modifications or )drawal ( su* allocation1 & 7ii7 report to ! ,secret>y1 at su* "t & 9 su* mann] z ! ,secret>y may require1 ! am\nt ( allocations made ) respect to any build+4 7,c7 ,/ate ext5d$ use requirem5ts p]mitt$ pa/ #cj ye>s ,= purposes ( ?is p>agraph1 a h\s+ cr$it ag5cy's plan %all n fail to be treat$ z a conv]sion cr$it allocation plan m]ely because x includes1 & no?+ 9 ?is section %all be con/ru$ to limit a b9d+ allocation agreem5t f includ+1 af=dability or r5t re/riction requirem5ts ) respect to ! build+ t apply = a long] p]iod ?an ! #cj-ye> p]iod describ$ 9 subsections 7d7 & 7g77#a77;,b74 7#d7 ,def9itions & o!r rules 7,a7 ,h\s+ cr$it ag5cy ,! t]m h\s+ cr$it ag5cy means1 ) respect to any ,/ate1 ! h\s+ cr$it ag5cy au?oriz$ "u section #db7;h77#h7 or su* o!r ag5cy z au?oriz$ by ! ,/ate = purposes ( ?is section4 7,b7 ,economically di/ress$ area ,! t]m economically di/ress$ area means any area :i*-- 7i7 has be5 designat$ z a qualifi$ c5sus tract "u section #db7;d77#e77;,b77ii7 or z a difficult developm5t area "u section #db7;d77#e77;,b77iii71 or 7ii7 meets ! requirem5t ( section #cja7;a77#c7 ( ! ,public ,works & ,economic ,developm5t ,act ( #aife4 7,c7 ,/ate ,! t]m ,/ate includes a possession ( ! ,unit$ ,/ates4 7,d7 ,o!r rules ,rules simil> to ! rules ( subp>agraphs 7,a7 & 7,b7 ( section #db7;h77#g7 %all apply = purposes ( ?is section4 7f7 ,progress exp5ditures ,if ! ,secret>y det]m9es1 on ! basis ( ar*itectural plans & specifications t a qualifi$ conv]sion is reasonably expect$ to exce$ #b ye>s1 rules simil> to ! rules ( section #dg7;d7 %all apply ) respect to su* conv]sion = purposes ( ?is section4 7g7 ,special rules = c]ta9 areas 7#a7 ,qualifi$ c5sus tracts & difficult developm5t areas ,9 ! case ( a qualifi$ af=dable h\s+ build+-- 7,a7 :i* is locat$ 9 any area :i* is designat$ z a qualifi$ c5sus tract "u section #db7;d77#e77;,b77ii7 or z a difficult developm5t area "u section #db7;d77#e77;,b77iii71 & 7,b7 ) respect to :i* dur+ #cj-ye> p]iod beg9n+ on ! date on :i* su* build+ is plac$ 9 s]vice by ! taxpay]1 n less ?an #bj p]c5t ( ! resid5tial units 9 ! build+ are bo? r5t-re/rict$ & res]v$ = individuals ^: income is #fj p]c5t or less ( ! area m$ian income1 subsection 7a7 %all be appli$ by sub/itut+ #cj p]c5t = #bj p]c5t4 7#b7 ,hi/oric pres]vation 9 rural areas 7,a7 ,9 g5]al ,9 ! case ( a qualifi$ af=dable h\s+ build+ :i* is 9 a rural area & is "p ( an hi/oric pres]vation project1 ! taxpay] may elect to sub/itute #ce p]c5t = #bj p]c5t "u subsection 7a7 ) respect to su* portion ( ! aggregate qualifi$ conv]sion exp5ditures tak5 into acc\nt "u su* subsection z does n exce$ #b1jjj1jjj4 7,b7 ,def9itions ,= purposes ( ?is p>agraph-- 7i7 ,rural area ,! t]m rural area %all h ! mean+ giv5 su* t]m "u section #acic7;a77#b74 7ii7 ,hi/oric pres]vation project ,! t]m hi/oric pres]vation project means a qualifi$ conv]sion :i* involves ! c]tifi$ rehabilitation ( a c]tifi$ hi/oric /ructure4 ,:e!r conv]sion ( a c]tifi$ hi/oric /ructure involves c]tifi$ rehabilitation %all be det]m9$ "u rules simil> to ! rules ( section #dg7;c77#b77;,c74 7h7 ,regulations ,! ,secret>y %all issue su* regulations or o!r guidance z may be necess>y or appropriate to c>ry out ! purposes ( ?is section1 includ+ regulations or o!r guidance-- 7#a7 provid+ = ! recapture ( ! cr$it det]m9$ "u subsection 7a7 if ! qualifi$ af=dable h\s+ build+ ceases to be a qualifi$ af=dable h\s+ build+ dur+ ! #cj-ye> p]iod beg9n+ on ! date t su* build+ is plac$ 9 s]vice by ! taxpay]1 7#b7 detail+ any c]tifications requir$ f ! taxpay] or any h\s+ cr$it ag5cy ( a ,/ate1 7#c7 ) respect to ! application ( subsection 7b77#d71 7#d7 ) respect to in=mation report+ on allocations ( qualifi$ conv]sion cr$it doll> am\nts1 7#e7 provid+ rules = mak+ a det]m9ation z to :e!r an area is describ$ 9 subsection 7e77#d77;,b71 & 7#f7 :i* enc\rages h\s+ cr$it ag5cies to allocate1 to ! ext5t practicable1 qualifi$ conv]sion cr$it doll> am\nts to non-metropolitan c\nties )9 a ,/ate 9 proportion to ! non-metropolitan population ( ! ,/ate1 b only to ! ext5t x is demon/rat$ )9 su* non-metropolitan c\nties t !re are suffici5t qualifi$ conv]sion exp5ditures to w>rant su* allocations4 4 7b7 ,transf]ability ( cr$it ,section #fdah7;f77#a77;,a7 is am5d$ by add+ at ! end ! foll[+ new clause3 7xiii7 ,! af=dable h\s+ conv]sion cr$it det]m9$ "u section #dh;,f4 4 7c7 ,con=m+ am5dm5ts 7#a7 ,section #df is am5d$ 9 p>agraph 7#f7 by /rik+ & at ! end1 9 p>agraph 7#g7 by /rik+ ! p]iod at ! end & ins]t+ 1 &1 & by add+ at ! end ! foll[+ new p>agraph3 7#h7 ! af=dable h\s+ conv]sion cr$it4 4 7#b7 ,section #di7;a77#a77;,c7 is am5d$ by /rik+ & at ! end ( clause 7vii71 9 clause 7viii7 by /rik+ ! p]iod at ! end & ins]t+ 1 &1 & by add+ at ! end ! foll[ new clause3 7ix7 ! basis ( any prop]ty :i* is be+ conv]t$ z "p ( a qualifi$ conv]sion "u section #dh;,f4 4 7#c7 ,section #ej7;a77#b77;,e7 is am5d$ by /rik+ or #dh;,e7e7 & ins]t+ #dh;,e7e71 or #dh;,f7f74 7#d7 ,! table ( sections = subp>t ,e ( "p ,,iv ( sub*apt] ,a ( *apt] #a is am5d$ by add+ at ! end ! foll[+ new item3 ,sec4 #dh;,f4 ,af=dable h\s+ conv]sion cr$it4 4 7d7 ,effective date ,! am5dm5ts made by ?is section %all apply to qualifi$ af=dable h\s+ build+s 7z def9$ 9 section #dh;,f ( ! ,int]nal ,rev5ue ,code ( #aihf1 z add$ by ?is section7 plac$ 9 s]vice aft] ! date ( ! enactm5t ( ?is ,act4 #abjjb4 ,neighborhood homes cr$it 7a7 ,9 g5]al ,subp>t ,d ( "p ,,iv ( sub*apt] ,a ( *apt] #a is am5d$ by ins]t+ aft] section #db ! foll[+ new section3 #db;,a4 ,neighborhood homes cr$it 7a7 ,all[ance ( cr$it ,= purposes ( section #ch1 ! neighborhood homes cr$it det]m9$ "u ?is section = ! taxable ye> is1 ) respect to ea* qualifi$ resid5ce sold by ! taxpay] dur+ su* taxable ye> 9 an af=dable sale1 ! less] (-- 7#a7 an am\nt equal to-- 7,a7 ! excess 7if any7 (-- 7i7 ! reasonable developm5t co/s paid or incurr$ by ! taxpay] ) respect to su* qualifi$ resid5ce1 ov] 7ii7 ! sale price ( su* qualifi$ resid5ce 7r$uc$ by any reasonable exp5ses paid or incurr$ by ! taxpay] 9 connection ) su* sale71 or 7,b7 if ! neighborhood homes cr$it ag5cy det]m9es x is necess>y to ensure f9ancial feasibility1 an am\nt n to exce$ #abj p]c5t ( ! am\nt "u subp>agraph 7,a71 7#b7 #dj p]c5t ( ! eligible developm5t co/s paid or incurr$ by ! taxpay] ) respect to su* qualifi$ resid5ce1 or 7#c7 #cb p]c5t ( ! national m$ian sale price = new homes 7z det]m9$ pursuant to ! mo/ rec5t c5sus data available z ( ! date on :i* ! neighborhood homes cr$it ag5cy makes an allocation = ! qualifi$ project74 7b7 ,developm5t co/s ,= purposes ( ?is section-- 7#a7 ,reasonable developm5t co/s 7,a7 ,9 g5]al ,! t]m reasonable developm5t co/s means am\nts paid or incurr$ = ! acquisition ( build+s & l&1 con/ruction1 sub/antial rehabilitation1 demolition ( /ructures1 or environm5tal rem$iation1 to ! ext5t t ! neighborhood homes cr$it ag5cy det]m9es t su* am\nts meet ! /&>ds specifi$ pursuant to subsection 7f77#a77;,d7 7z ( ! date on :i* con/ruction or sub/antial rehabilitation is sub/antially complete1 z det]m9$ by su* ag5cy7 & are necess>y to ensure ! f9ancial feasibility ( su* qualifi$ resid5ce4 7,b7 ,consid]ations 9 mak+ det]m9ation ,9 mak+ ! det]m9ation "u subp>agraph 7,a71 ! neighborhood homes cr$it ag5cy %all consid]-- 7i7 ! s\rces & uses ( funds & ! total f9anc+1 7ii7 any proce$s or receipts g5]at$ or expect$ to be g5]at$ by reason ( tax b5efits1 & 7iii7 ! reasonabl5ess ( ! developm5tal co/s & fees4 7#b7 ,eligible developm5t co/s ,! t]m eligible developm5t co/s means ! am\nt :i* w\ld be reasonable developm5t co/s if ! am\nts tak5 into acc\nt z paid or incurr$ = ! acquisition ( build+s & l& did n exce$ #ge p]c5t ( su* co/s det]m9$ )\t reg>d to any am\nt paid or incurr$ = ! acquisition ( build+s & l&4 7#c7 ,sub/antial rehabilitation ,! t]m sub/antial rehabilitation means am\nts paid or incurr$ = rehabilitation ( a qualifi$ resid5ce if su* am\nts exce$ ! great] (-- 7,a7 #be1jjj1 or 7,b7 #bj p]c5t ( ! am\nts paid or incurr$ by ! taxpay] = ! acquisition ( build+s & l& ) respect to su* qualifi$ resid5ce4 7#d7 ,con/ruction & rehabilitation only aft] allocation tak5 into acc\nt 7,a7 ,9 g5]al ,! t]ms reasonable developm5t co/s & eligible developm5t co/s %all n include any am\nt paid or incurr$ be=e ! date on :i* an allocation is made to ! taxpay] "u subsection 7e7 ) respect to ! qualifi$ project ( :i* ! qualifi$ resid5ce is "p unless su* am\nt is paid or incurr$ = ! acquisition ( build+s or l&4 7,b7 ,l& & build+ acquisition co/s ,am\nts paid or incurr$ = ! acquisition ( build+s or l& %all be includ$ "u p>agraph 7,a7 only if paid or incurr$ n m ?an #c ye>s be=e ! date on :i* ! allocation ref]r$ to 9 subp>agraph 7,a7 is made4 ,if ! taxpay] acquir$ any build+ or l& f an entity 7or any relat$ p>ty to su* entity7 t holds an own]%ip int]e/ 9 ! taxpay]1 !n su* entity mu/ also h acquir$ su* prop]ty )9 su* #c-ye> p]iod1 & ! acquisition co/ includ$ "u subp>agraph 7,a7 ) respect to ! taxpay] %all n exce$ ! am\nt su* entity paid or incurr$ to acquire su* prop]ty4 7c7 ,qualifi$ resid5ce ,= purposes ( ?is section-- 7#a7 ,9 g5]al ,! t]m qualifi$ resid5ce means a resid5ce t-- 7,a7 is real prop]ty 7con/ruct$ on-site or manufactur$ (f-site7 affix$ on a p]man5t f\ndation1 7,b7 is-- 7i7 a h\se :i* is compris$ ( #d or few] resid5tial units1 7ii7 a condom9ium unit1 or 7iii7 a h\se or an ap>tm5t own$ by a coop]ative h\s+ corporation 7z def9$ 9 section #baf7;b771 7,c7 is "p ( a qualifi$ project ) respect to :i* ! neighborhood homes cr$it ag5cy has made an allocation "u subsection 7e71 & 7,d7 is locat$ 9 a qualifi$ c5sus tract 7det]m9$ z ( ! date ( su* allocation74 7#b7 ,qualifi$ c5sus tract 7,a7 ,9 g5]al ,! t]m qualifi$ c5sus tract means a c5sus tract-- 7i7 :i*-- 7,i7 has a m$ian family income :i* does n exce$ #hj p]c5t ( ! m$ian family income = ! applicable area1 7,,ii7 has a pov]ty rate t is n less ?an #acj p]c5t ( ! pov]ty rate ( ! applicable area1 & 7,,iii7 has a m$ian value = own]-occupi$ homes t does n exce$ ! m$ian value = own]-occupi$ homes 9 ! applicable area1 7ii7 :i*-- 7,i7 is locat$ 9 a city :i* has a population ( n less ?an #ej1jjj & su* city has a pov]ty rate t is n less ?an #aej p]c5t ( ! pov]ty rate ( ! applicable area1 7,,ii7 has a m$ian family income :i* does n exce$ ! m$ian family income = ! applicable area1 & 7,,iii7 has a m$ian value = own]-occupi$ homes t does n exce$ #hj p]c5t ( ! m$ian value = own]-occupi$ homes 9 ! applicable area1 7iii7 :i*-- 7,i7 is locat$ 9 a nonmetropolitan c\nty1 7,,ii7 has a m$ian family income :i* does n exce$ ! m$ian family income = ! applicable area1 & 7,,iii7 has be5 designat$ by a neighborhood homes cr$it ag5cy "u ?is clause1 7iv7 :i* is n o!rwise a qualifi$ c5sus tract & is locat$ 9 a disa/] area 7z def9$ 9 section #gejh;,a7d77#c771 b only ) respect to cr$its allocat$ 9 any p]iod dur+ :i* ! ,presid5t ( ! ,unit$ ,/ates has det]m9$ t su* area w>rants individual or individual & public assi/ance by ! ,f$]al ,gov]nm5t "u ! ,rob]t ,t4 ,/af=d ,disa/] ,relief & ,em]g5cy ,assi/ance ,act1 or 7v7 :i* is n o!rwise a qualifi$ c5sus tract & is id5tifi$ by ! neighborhood homes cr$it ag5cy1 ?r\gh me?odologies detail$ 9 ! qualifi$ allocation plan1 z hav+ a %ortage ( af=dable own]-occupi$ homes4 7,b7 ,applicable area ,! t]m applicable area means-- 7i7 9 ! case ( a metropolitan c5sus tract1 ! metropolitan area 9 :i* su* c5sus tract is locat$1 & 7ii7 9 ! case ( a c5sus tract o!r ?an a c5sus tract describ$ 9 clause 7i71 ! ,/ate4 7d7 ,af=dable sale ,= purposes ( ?is section-- 7#a7 ,9 g5]al ,! t]m af=dable sale means a sale to a qualifi$ home[n] ( a qualifi$ resid5ce t ! neighborhood homes cr$it ag5cy c]tifies z meet+ ! /&>ds promulgat$ "u subsection 7f77#a77;,d7 = a price t does n exce$-- 7,a7 9 ! case ( any qualifi$ resid5ce n describ$ 9 subp>agraph 7,b71 7,c71 or 7,d71 ! am\nt equal to ! product ( #d multipli$ by ! m$ian family income = ! applicable area 7z det]m9$ pursuant to ! mo/ rec5t c5sus data available z ( ! date ( ! contract = su* sale71 7,b7 9 ! case ( a h\se compris$ ( #b resid5tial units1 #abe p]c5t ( ! am\nt describ$ 9 subp>agraph 7,a71 7,c7 9 ! case ( a h\se compris$ ( #c resid5tial units1 #aej p]c5t ( ! am\nt describ$ 9 subp>agraph 7,a71 or 7,d7 9 ! case ( a h\se compris$ ( #d resid5tial units1 #age p]c5t ( ! am\nt describ$ 9 subp>agraph 7,a74 7#b7 ,qualifi$ home[n] ,! t]m qualifi$ home[n] means1 ) respect to a qualifi$ resid5ce1 an individual-- 7,a7 :o owns & uses su* qualifi$ resid5ce z ! pr9cipal resid5ce ( su* individual1 & 7,b7 ^: family income 7det]m9$ z ( ! date t a b9d+ contract = ! af=dable sale ( su* resid5ce is ent]$ into7 is #adj p]c5t or less ( ! m$ian family income = ! applicable area 9 :i* ! qualifi$ resid5ce is locat$4 7e7 ,cr$it ceil+ & allocations 7#a7 ,cr$it limit$ bas$ on allocations to qualifi$ projects 7,a7 ,9 g5]al ,! cr$it all[$ "u subsection 7a7 to any taxpay] = any taxable ye> ) respect to "o or m qualifi$ resid5ces :i* are "p ( ! same qualifi$ project %all n exce$ ! excess 7if any7 (-- 7i7 ! am\nt allocat$ by ! neighborhood homes cr$it ag5cy "u ?is p>agraph to su* taxpay] ) respect to su* qualifi$ project1 ov] 7ii7 ! aggregate am\nt ( cr$it all[$ "u subsection 7a7 to su* taxpay] ) respect to qualifi$ resid5ces :i* are a "p ( su* qualifi$ project = all prior taxable ye>s4 7,b7 ,deadl9e = completion ,no cr$it %all be all[$ "u subsection 7a7 ) respect to any qualifi$ resid5ce unless ! af=dable sale ( su* resid5ce is dur+ ! #e-ye> p]iod beg9n+ on ! date ( ! allocation to ! qualifi$ project ( :i* su* resid5ce is a "p 7or1 9 ! case ( a qualifi$ resid5ce to :i* subsection 7i7 applies1 ! rehabilitation ( su* resid5ce is complet$ dur+ su* #e-ye> p]iod74 7#b7 ,limitations on allocations to qualifi$ projects 7,a7 ,allocations limit$ by ,/ate neighborhood homes cr$it ceil+ ,! aggregate am\nt allocat$ to taxpay]s ) respect to qualifi$ projects by ! neighborhood homes cr$it ag5cy ( any ,/ate = any cal5d> ye> %all n exce$ ! ,/ate neighborhood homes cr$it am\nt ( su* ,/ate = su* cal5d> ye>4 7,b7 ,set-aside = c]ta9 projects involv+ qualifi$ nonpr(it organizations ,rules simil> to ! rules ( section #db7;h77#e7 %all apply = purposes ( ?is section4 7#c7 ,det]m9ation ( ,/ate neighborhood homes cr$it ceil+ 7,a7 ,9 g5]al ,! ,/ate neighborhood homes cr$it am\nt = a ,/ate = a cal5d> ye> is an am\nt equal to ! sum (-- 7i7 ! great] (-- 7,i7 ! product ( #i1 multipli$ by ! ,/ate population 7det]m9$ 9 accordance ) section #adf7;j771 or 7,,ii7 #ab1jjj1jjj1 & 7ii7 any am\nt previ\sly allocat$ to any taxpay] ) respect to any qualifi$ project by ! neighborhood homes cr$it ag5cy ( su* ,/ate :i* c no long] be allocat$ to any qualifi$ resid5ce because ! #e-ye> p]iod describ$ 9 p>agraph 7#a77;,b7 expires dur+ cal5d> ye>4 7,b7 #c-ye> c>ry=w>d ( unus$ limitation ,! ,/ate neighborhood homes cr$it am\nt = a ,/ate = a cal5d> ye> %all be increas$ by ! excess 7if any7 ( ! ,/ate neighborhood homes cr$it am\nt = su* ,/ate = ! prec$+ cal5d> ye> ov] ! aggregate am\nt allocat$ by ! neighborhood homes cr$it ag5cy ( su* ,/ate dur+ su* prec$+ cal5d> ye>4 ,any am\nt c>ri$ =w>d "u ! prec$+ s5t5ce %all n be c>ri$ pa/ ! ?ird cal5d> ye> aft] ! cal5d> ye> 9 :i* su* cr$it am\nt orig9ally arose1 det]m9$ on a fir/-91 fir/-out basis4 7f7 ,responsibilities ( neighborhood homes cr$it ag5cies 7#a7 ,9 g5]al ,not)/&+ subsection 7e71 ! ,/ate neighborhood homes cr$it doll> am\nt %all be z]o = a cal5d> ye> unless ! neighborhood homes cr$it ag5cy ( ! ,/ate-- 7,a7 allocates su* am\nt pursuant to a qualifi$ allocation plan ( ! neighborhood homes cr$it ag5cy1 7,b7 subject to p>agraph 7#b71 allocates n m ?an #bj p]c5t ( am\nts allocat$ 9 ! previ\s ye> 7or = allocations made 9 ! fir/ allocation ye> "u ?is section1 n m ?an #bj p]c5t ( ! neighborhood homes cr$it ceil+ = su* ye>7 to projects ) respect to qualifi$ resid5ces :i*-- 7i7 are locat$ 9 c5sus tracts describ$ 9 subsection 7c77#b77;,a77iii71 7c77#b77;,a77iv71 7i77#e71 or 7ii7 are n locat$ 9 a qualifi$ c5sus tract b meet ! requirem5ts ( subsection 7i77#h71 7,c7 subject to p>agraph 7#b71 9 addition to any allocation describ$ 9 subp>agraph 7,b71 allocates n m ?an #bj p]c5t ( am\nts allocat$ 9 ! previ\s ye> 7or = allocations made 9 ! fir/ allocation ye> "u ?is section1 n m ?an #bj p]c5t ( ! neighborhood homes cr$it ceil+ = su* ye>7 to projects ) respect to qualifi$ resid5ces :i* are locat$ 9 any c5sus tract describ$ 9 subsection 7c77#b77;,a77v71 except t1 ) respect to any qualifi$ resid5ce locat$ )9 su* c5sus tract :i* is sold to a qualifi$ home[n]1 subsection 7d77#b7 %all be appli$ by sub/itut+ #abj p]c5t = #adj p]c5t1 7,d7 promulgates /&>ds ) respect to reasonable qualifi$ developm5t co/s & fees1 7,e7 promulgates /&>ds ) respect to con/ruction quality :i* are consi/5t ) build+ codes or o!r /&>ds requir$ by ! ,/ate or local jurisdiction 9 :i* ! project is locat$1 7,f7 9 ! case ( any neighborhood homes cr$it ag5cy :i* makes an allocation to a qualifi$ project :i* includes any qualifi$ resid5ce to :i* subsection 7i7 applies1 promulgates /&>ds ) respect to protect+ ! own]s ( su* resid5ces1 includ+ ! capacity ( su* own]s to pay rehabilitation co/s n cov]$ by ! cr$it provid$ by ?is section & provid+ = ! disclosure to su* own]s ( _! rights & responsibilities ) respect to ! rehabilitation ( su* resid5ces1 7,g7 submits to ! ,secret>y 7at su* "t & 9 su* mann] z ! ,secret>y may prescribe7 an annual report specify+-- 7i7 ! am\nt ( ! neighborhood homes cr$its allocat$ to ea* qualifi$ project = ! previ\s ye>1 7ii7 ) respect to ea* qualifi$ resid5ce complet$ 9 ! prec$+ cal5d> ye>-- 7,i7 ! c5sus tract 9 :i* su* qualifi$ resid5ce is locat$1 7,,ii7 ) respect to ! qualifi$ project t includes su* qualifi$ resid5ce1 ! ye> 9 :i* su* project receiv$ an allocation "u ?is section1 7,,iii7 :e!r su* qualifi$ resid5ce 0 new1 sub/antially rehabilitat$ & sold to a qualifi$ home[n]1 or sub/antially rehabilitat$ pursuant to subsection 7i71 7,,iv7 ! eligible developm5t co/s ( su* qualifi$ resid5ce1 7,v7 ! am\nt ( ! neighborhood homes cr$it ) respect to su* qualifi$ resid5ce1 7,,vi7 ! sales price ( su* qualifi$ resid5ce1 if applicable1 & 7,,vii7 ! family income ( ! qualifi$ home[n] 7express$ z a p]c5tage ( ! applicable area m$ian family income = ! location ( ! qualifi$ resid5ce71 & 7iii7 su* o!r in=mation z ! ,secret>y may require1 7,h7 makes available to ! g5]al public a writt5 explanation = any allocation ( a neighborhood homes cr$it doll> am\nt :i* is n made 9 accordance ) e/abli%$ priorities & selection crit]ia ( ! neighborhood homes cr$it ag5cy1 & 7,i7 provide educational outrea* on application & compliance requirem5ts1 includ+ = small resid5tial build]s & remodel]s4 7#b7 ,alt]native = c]ta9 ,/ates 7,a7 ,9 g5]al ,9 ! case ( any ,/ate :i*1 = a cal5d> ye>1 is an applicable ,/ate 7z def9$ 9 subp>agraph 7,b771 9 lieu ( ! requirem5ts "u subp>agraphs 7,b7 & 7,c7 ( p>agraph 7#a71 ! neighborhood homes cr$it ag5cy ( ! ,/ate may elect to allocate n m ?an #dj p]c5t ( am\nts allocat$ 9 ! previ\s ye> 7or = allocations made 9 ! fir/ allocation ye> "u ?is section1 n m ?an #dj p]c5t ( ! neighborhood homes cr$it ceil+ = su* ye>7 to projects ) respect to qualifi$ resid5ces :i* are describ$ 9 ei!r subp>agraph 7,b7 or 7,c7 ( p>agraph 7#a74 7,b7 ,applicable ,/ate ,= purposes ( ?is p>agraph1 ! t]m applicable ,/ate means a ,/ate :i*1 = purposes ( ! det]m9+ ! am\nt "u subsection 7e77#c77;,a77i7 = ! cal5d> ye> ) respect to su* ,/ate1 receiv$ ! am\nt describ$ 9 subclause 7,,ii7 ( su* subsection4 7#c7 ,qualifi$ allocation plan ,= purposes ( ?is subsection1 ! t]m qualifi$ allocation plan means any plan :i*-- 7,a7 sets =? ! selection crit]ia to be us$ to prioritize qualifi$ projects = allocations ( ,/ate neighborhood homes cr$it doll> am\nts1 includ+-- 7i7 ! ne$ = new or sub/antially rehabilitat$ own]-occupi$ homes 9 ! area address$ by ! project1 7ii7 ! expect$ contribution ( ! project to neighborhood /ability & revitalization1 includ+ ! impact on neighborhood resid5ts1 7iii7 ! capability & prior p]=mance ( ! project sponsor1 & 7iv7 ! likelihood ! project w result 9 long-t]m home[n]%ip1 7,b7 has be5 made available = public comm5t1 7,c7 z det]m9$ by ! neighborhood homes cr$it ag5cy1 is likely to result 9 ! selection ( highly qualifi$ applicants :ile also m9imiz+1 to ! ext5t practicable1 application co/s & b>ri]s to entry = small resid5tial build]s & re-model]s1 & 7,d7 provides a proc$ure t ! neighborhood homes cr$it ag5cy 7or any ag5t or contractor ( su* ag5cy7 %all foll[ = purposes (-- 7i7 id5tify+ noncompliance ) any provisions ( ?is section1 & 7ii7 notify+ ! ,int]nal ,rev5ue ,s]vice ( any su* noncompliance ( :i* ! ag5cy becomes aw>e4 7g7 ,repaym5t 7#a7 ,9 g5]al 7,a7 ,sold dur+ #e-ye> p]iod ,if a qualifi$ resid5ce is sold dur+ ! #e-ye> p]iod beg9n+ imm$iately aft] ! af=dable sale ( su* qualifi$ resid5ce ref]r$ to 9 subsection 7a71 ! sell] %all transf] an am\nt equal to ! repaym5t am\nt to ! relevant neighborhood homes cr$it ag5cy4 7,b7 ,use ( repaym5ts ,a neighborhood homes cr$it ag5cy %all use any am\nt receiv$ pursuant to subp>agraph 7,a7 only = purposes ( qualifi$ projects4 7#b7 ,repaym5t am\nt ,= purposes ( p>agraph 7#a77;,a7-- 7,a7 ,9 g5]al ,! repaym5t am\nt is an am\nt equal to ! applicable p]c5tage ( ! ga9 f ! sale to :i* ! repaym5t relates4 7,b7 ,applicable p]c5tage ,= purposes ( subp>agraph 7,a71 ! applicable p]c5tage is #ej p]c5t1 r$uc$ by #aj p]c5tage po9ts = ea* ye> ( ! #e-ye> p]iod ref]r$ to 9 p>agraph 7#a77;,a7 :i* ends be=e ! date ( su* sale4 7#c7 ,li5 = repaym5t am\nt ,a neighborhood homes cr$it ag5cy receiv+ an allocation "u ?is section %all place a li5 on ea* qualifi$ resid5ce t is built or rehabilitat$ z "p ( a qualifi$ project = an am\nt su* ag5cy deems necess>y to ensure pot5tial repaym5t pursuant to p>agraph 7#a77;,a74 7#d7 ,waiv] 7,a7 ,9 g5]al ,! neighborhood homes cr$it ag5cy may waive ! repaym5t requir$ "u p>agraph 7#a77;,a7 if ! ag5cy det]m9es t mak+ a repaym5t w\ld con/itute a h>d%ip to ! sell]4 7,b7 ,h>d%ip ,= purposes ( subp>agraph 7,a71 ) respect to ! sell]1 a h>d%ip may include-- 7i7 divorce1 7ii7 disability1 7iii7 illness1 or 7iv7 any o!r h>d%ip id5tifi$ by ! neighborhood homes cr$it ag5cy = purposes ( ?is p>agraph4 7h7 ,o!r def9itions & special rules ,= purposes ( ?is section-- 7#a7 ,neighborhood homes cr$it ag5cy ,! t]m neighborhood homes cr$it ag5cy means ! ag5cy designat$ by ! gov]nor ( a ,/ate z ! neighborhood homes cr$it ag5cy ( ! ,/ate4 7#b7 ,qualifi$ project ,! t]m qualifi$ project means a project t a neighborhood homes cr$it ag5cy c]tifies w build or sub/antially rehabilitate "o or m qualifi$ resid5ces4 7#c7 ,det]m9ations ( family income ,rules simil> to ! rules ( section #adc7;f77#b7 %all apply = purposes ( ?is section4 7#d7 ,possessions treat$ z /ates ,! t]m ,/ate includes ! ,di/rict ( ,columbia & ! possessions ( ! ,unit$ ,/ates4 7#e7 ,special rules relat$ to condom9iums & coop]ative h\s+ corporations 7,a7 ,det]m9ation ( developm5t co/s ,9 ! case ( a qualifi$ resid5ce describ$ 9 clause 7ii7 or 7iii7 ( subsection 7c77#a77;,a71 ! reasonable developm5t co/s & eligible developm5t co/s ( su* qualifi$ resid5ce %all be an am\nt equal to su* co/s1 respectively1 ( ! entire condom9ium or coop]ative h\s+ prop]ty 9 :i* su* qualifi$ resid5ce is locat$1 multipli$ by a fraction-- 7i7 ! num]ator ( :i* is ! total floor space ( su* qualifi$ resid5ce1 & 7ii7 ! d5om9ator ( :i* is ! total floor space ( all resid5ces )9 su* prop]ty4 7,b7 ,t5ant-/ockhold]s ( coop]ative h\s+ corporations treat$ z own]s ,9 ! case ( a coop]ative h\s+ corporation 7z su* t]m is def9$ 9 section #baf7;b771 a t5ant-/ockhold] %all be treat$ z own+ ! h\se or ap>tm5t :i* su* p]son is entitl$ to occupy4 7#f7 ,relat$ p>ty sales n treat$ z af=dable sales 7,a7 ,9 g5]al ,a sale betwe5 relat$ p]sons %all n be treat$ z an af=dable sale4 7,b7 ,relat$ p]sons ,= purposes ( ?is p>agraph1 a p]son 79 ?is subp>agraph ref]r$ to z ! relat$ p]son7 is relat$ to any p]son if ! relat$ p]son be>s a relation%ip to su* p]son specifi$ 9 section #bfg7;b7 or #gjg7;b77#a71 or ! relat$ p]son & su* p]son are engag$ 9 trades or bus9esses "u common control 7)9 ! mean+ ( subsections 7a7 & 7b7 ( section #eb74 ,= purposes ( ! prec$+ s5t5ce1 9 apply+ section #bfg7;b7 or #gjg7;b77#a71 #aj p]c5t %all be sub/itut$ = #ej p]c5t4 7#g7 ,inflation adju/m5t 7,a7 ,9 g5]al ,9 ! case ( a cal5d> ye> aft] #bjbf1 ! doll> am\nts 9 subsections 7b77#c77;,a71 7e77#c77;,a77i77,i71 7e77#c77;,a77i77,,ii71 & 7i77#b77;,c7 %all ea* be increas$ by an am\nt equal to-- 7i7 su* doll> am\nt1 multipli$ by 7ii7 ! co/-(-liv+ adju/m5t det]m9$ "u section #a7;f77#c7 = su* cal5d> ye> by sub/itut+ cal5d> ye> #bjbe = cal5d> ye> #bjaf 9 subp>agraph 7,a77ii7 !re(4 7,b7 ,r\nd+ 7i7 ,9 ! case ( ! doll> am\nts 9 subsections 7b77#c77;,a7 & 7i77#b77;,c71 any increase "u p>agraph 7#a7 :i* is n a multiple ( #a1jjj %all be r\nd$ to ! ne>e/ multiple ( #a1jjj4 7ii7 ,9 ! case ( ! doll> am\nt 9 subsection 7e77#c77;,a77i77,i71 any increase "u p>agraph 7#a7 :i* is n a multiple ( #j4ja %all be r\nd$ to ! ne>e/ multiple ( #j4ja4 7iii7 ,9 ! case ( ! doll> am\nt 9 subsection 7e77#c77;,a77i77,,ii71 any increase "u p>agraph 7#a7 :i* is n a multiple ( #ajj1jjj %all be r\nd$ to ! ne>e/ multiple ( #ajj1jjj4 7#h7 ,report 7,a7 ,9 g5]al ,! ,secret>y %all annually issue a report1 to be made available to ! public1 :i* conta9s ! in=mation submitt$ pursuant to subsection 7f77#a77;,g74 7,b7 ,de-id5tification ,! ,secret>y %all ensure t any in=mation made public pursuant to subp>agraph 7,a7 excludes any in=mation t w\ld all[ = ! id5tification ( qualifi$ home[n]s4 7#i7 ,li/ ( qualifi$ c5sus tracts ,! ,secret>y ( ,h\s+ & ,urban ,developm5t %all1 = ea* ye>1 make publicly available a li/ ( qualifi$ c5sus tracts "u-- 7,a7 on a comb9$ basis1 clauses 7i7 & 7ii7 ( subsection 7c77#b77;,a71 7,b7 clause 7iii7 ( su* subsection1 & 7,c7 subsection 7i77#e77;,a74 7#aj7 ,d5ial ( d$uctions if conv]t$ to r5tal h\s+ ,if1 dur+ ! #e-ye> p]iod beg9n+ imm$iately aft] ! af=dable sale ( a qualifi$ resid5ce ref]r$ to 9 subsection 7a71 an individual :o owns a qualifi$ resid5ce 7:e!r or n su* individual 0 ! pur*as] 9 su* af=dable sale7 fails to use su* qualifi$ resid5ce z su* individual's pr9cipal resid5ce = any p]iod ( "t1 no d$uction %all be all[$ = exp5ses paid or incurr$ by su* individual ) respect to r5t+1 dur+ su* p]iod ( "t1 su* qualifi$ resid5ce4 7i7 ,application ( cr$it ) respect to own]-,occupi$ rehabilitations 7#a7 ,9 g5]al ,9 ! case ( a qualifi$ rehabilitation by ! taxpay] ( any qualifi$ resid5ce :i* is own$ 7z ( ! date t ! writt5 b9d+ contract ref]r$ to 9 p>agraph 7#c7 is ent]$ into7 by a specifi$ home[n]1 ! rules ( p>agraphs 7#b7 ?r\gh 7#g7 %all apply4 7#b7 ,alt]native cr$it det]m9ation ,9 ! case ( any qualifi$ resid5ce describ$ 9 p>agraph 7#a71 ! neighborhood homes cr$it det]m9$ "u subsection 7a7 ) respect to su* resid5ce %all 79 lieu ( any cr$it o!rwise det]m9$ "u subsection 7a7 ) respect to su* resid5ce7 be all[$ 9 ! taxable ye> dur+ :i* ! qualifi$ rehabilitation is complet$ 7z det]m9$ by ! neighborhood homes cr$it ag5cy7 & %all be equal to ! lea/ (-- 7,a7 ! excess 7if any7 (-- 7i7 ! am\nts paid or incurr$ by ! taxpay] = ! qualifi$ rehabilitation ( ! qualifi$ resid5ce to ! ext5t t su* am\nts are c]tifi$ by ! neighborhood homes cr$it ag5cy 7at ! "t ( ! completion ( su* rehabilitation7 z meet+ ! /&>ds specifi$ pursuant to subsection 7f77#a77;,d71 ov] 7ii7 any am\nts paid to su* taxpay] = su* rehabilitation1 7,b7 #ej p]c5t ( ! am\nts describ$ 9 subp>agraph 7,a77i71 or 7,c7 #ej1jjj4 7#c7 ,qualifi$ rehabilitation 7,a7 ,9 g5]al ,= purposes ( ?is subsection1 ! t]m qualifi$ rehabilitation means a rehabilitation or recon/ruction p]=m$ pursuant to a writt5 b9d+ contract betwe5 ! taxpay] & ! specifi$ home[n] if ! am\nt paid or incurr$ by ! taxpay] 9 ! p]=mance ( su* rehabilitation or recon/ruction exce$s ! doll> am\nt 9 effect "u subsection 7b77#c77;,a74 7,b7 ,application ( limitation to exp5ses paid or incurr$ aft] allocation ,a rule simil> to ! rule ( section 7b77#d7 %all apply = purposes ( ?is subsection4 7#d7 ,specifi$ home[n] ,= purposes ( ?is subsection1 ! t]m specifi$ home[n] means1 ) respect to a qualifi$ resid5ce1 an individual-- 7,a7 :o owns & uses su* qualifi$ resid5ce z ! pr9cipal resid5ce ( su* individual z ( ! date t ! writt5 b9d+ contract ref]r$ to 9 p>agraph 7#c7 is ent]$ into1 & 7,b7 ^: family income 7det]m9$ z ( su* date7 does n exce$ ! m$ian family income = ! applicable area 7) respect to ! c5sus tract 9 :i* ! qualifi$ resid5ce is locat$74 7#e7 ,additional c5sus tracts 9 :i* own]-occupi$ resid5ces may be locat$ ,9 ! case ( any qualifi$ resid5ce describ$ 9 p>agraph 7#a71 ! t]m qualifi$ c5sus tract includes any c5sus tract :i*-- 7,a7 meets ! requirem5ts ( subsection 7c77#b77;,a77i7 )\t reg>d to subclause 7,,iii7 !re(1 & 7,b7 is designat$ by ! neighborhood homes cr$it ag5cy = purposes ( ?is p>agraph4 7#f7 ,modification ( repaym5t requirem5t ,9 ! case ( any qualifi$ resid5ce describ$ 9 p>agraph 7#a71 subsection 7g7 %all be appli$ by beg9n+ ! #e-ye> p]iod o!rwise describ$ !re9 on ! date on :i* ! qualifi$ home[n] acquir$ su* resid5ce4 7#g7 ,relat$ p>ties ,p>agraph 7#a7 %all n apply if ! taxpay] is ! own] ( ! qualifi$ resid5ce describ$ 9 p>agraph 7#a7 or is relat$ 7)9 ! mean+ ( subsection 7h77#f77;,b77 to su* own]4 7#h7 ,pyrrhotite rem$iation ,! requirem5t ( subsection 7c77#a77;,d7 %all n apply to a qualifi$ rehabilitation "u ?is subsection ( a qualifi$ resid5ce t is docum5t$ by an eng9e]'s report & core te/+ to h a f\ndation t is adv]sely impact$ by pyrrhotite or o!r iron sulfide m9]als4 7j7 ,regulations ,! ,secret>y %all prescribe su* regulations z may be necess>y or appropriate to c>ry out ! purposes ( ?is section1 includ+ regulations t prev5t avoidance ( ! rules1 & abuse ( ! purposes1 ( ?is section4 4 7b7 ,cr$it all[$ z "p ( g5]al bus9ess cr$it ,section #ch7;b7 is am5d$ by /rik+ plus at ! end ( p>agraph 7#dj71 by /rik+ ! p]iod at ! end ( p>agraph 7#da7 & ins]t+ 1 plus1 & by add+ at ! end ! foll[+ new p>agraph3 7#db7 ! neighborhood homes cr$it det]m9$ "u section #db;,a7a74 4 7c7 ,cr$it all[$ aga9/ alt]native m9imum tax ,section #ch7;c77#d77;,b7 is am5d$ by r$esignat+ clauses 7iv7 ?r\gh 7xii7 z clauses 7v7 ?r\gh 7xiii71 respectively1 & by ins]t+ aft] clause 7iii7 ! foll[+ new clause3 7iv7 ! cr$it det]m9$ "u section #db;,a1 4 7d7 ,basis adju/m5ts 7#a7 ,en]gy effici5t home improvem5t cr$it ,section #be;,c7g7 is am5d$ by add+ aft] ! fir/ s5t5ce ! foll[+ new s5t5ce3 ,?is subsection %all n apply = purposes ( det]m9+ ! eligible developm5t co/s or adju/$ basis ( any build+ "u section #db;,a44 7#b7 ,resid5tial clean en]gy cr$it ,section #be;,d7f7 is am5d$ by add+ aft] ! fir/ s5t5ce ! foll[+ new s5t5ce3 ,?is subsection %all n apply = purposes ( det]m9+ ! eligible developm5t co/s or adju/$ basis ( any build+ "u section #db;,a44 7#c7 ,new en]gy effici5t home cr$it ,section #de,l7e7 is am5d$ by ins]t+ or = purposes ( det]m9+ ! eligible developm5t co/s or adju/$ basis ( any build+ "u section #db;,a aft] section #db4 7e7 ,exclusion f gross income ,"p ,,iii ( sub*apt] ,b ( *apt] #a is am5d$ by ins]t+ be=e section #adj ! foll[+ new section3 #aci,m4 ,/ate en]gy subsidies = qualifi$ resid5ces 7a7 ,exclusion f gross income ,gross income %all n include ! value ( any subsidy provid$ to a taxpay] 7:e!r directly or indirectly7 by any ,/ate en]gy (fice 7z def9$ 9 section #abd7;a7 ( ! ,en]gy ,policy ,act ( #bjje 7#db ,u4,s4,c4 #aehba7;a777 = purposes ( any en]gy improvem5ts made to a qualifi$ resid5ce 7z def9$ 9 section #db;,a7c77#a774 4 7f7 ,con=m+ am5dm5ts 7#a7 ,subsections 7i77#c77;,c71 7i77#f77;,b77i71 & 7k77#a7 ( section #dfi are ea* am5d$ by ins]t+ or #db;,a aft] section #db4 7#b7 ,! table ( sections = subp>t ,d ( "p ,,iv ( sub*apt] ,a ( *apt] #a is am5d$ by ins]t+ aft] ! item relat+ to section #db ! foll[+ new item3 ,sec4 #db;,a4 ,neighborhood homes cr$it4 4 7#c7 ,! table ( sections = "p ,,iii ( sub*apt] ,b ( *apt] #a is am5d$ by ins]t+ be=e ! item relat+ to section #adj ! foll[+ new item3 ,sec4 #aci,m4 ,/ate en]gy subsidies = qualifi$ resid5ces4 4 7g7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbe4 #abjjc4 ,modification ( hi/oric rehabilitation tax cr$it 7a7 ,full cr$it all[$ 9 ! ye> build+ plac$ 9 s]vice ,section #dg7;a7 is am5d$ to read z foll[s3 7a7 ,g5]al rule ,= purposes ( section #df1 ! rehabilitation cr$it = any taxable ye> is #bj p]c5t ( ! qualifi$ rehabilitation exp5ditures4 4 7b7 ,increase 9 ! rehabilitation cr$it = c]ta9 small projects ,section #dg is am5d$ by add+ at ! end ! foll[+ new subsection3 7e7 ,special rule reg>d+ c]ta9 small projects 7#a7 ,9 g5]al ,9 ! case ( any qualify+ small project ) respect to :i* !re is an election 9 effect "u ?is subsection-- 7,a7 ! total qualifi$ rehabilitation exp5ditures tak5 into acc\nt = purposes ( ?is section ) respect to ! rehabilitation %all n exce$ #c1gej1jjj1 7,b7 subsection 7a7 %all be appli$ by sub/itut+ #cj p]c5t = #bj p]c5t1 & 7,c7 subject to p>agraph 7#d7 & su* regulations or o!r guidance z ! ,secret>y may provide1 ! taxpay] may transf] all or a portion ( ! cr$it det]m9$ "u ?is section ) respect to su* qualify+ small project4 7#b7 ,qualify+ small project ,= purposes ( ?is subsection1 ! t]m qualify+ small project means any qualifi$ rehabilitat$ build+ or portion !re( if-- 7,a7 su* build+ is plac$ 9 s]vice aft] ! date ( ! enactm5t ( ?is subsection1 & 7,b7 no cr$it 0 all[$ "u ?is section 7o!r ?an a cr$its all[$ by reason ( subsection 7d77 = ei!r ( ! two imm$iately prec$+ taxable ye>s ) respect to su* build+4 7#c7 ,special rule = rural projects 7,a7 ,9 g5]al ,9 ! case ( any qualify+ small project 9 a rural area1 p>agraph 7#a77;,a7 %all be appli$ by sub/itut+ #e1jjj1jjj = #c1gej1jjj4 7,b7 ,rural area ,= purposes ( ?is subp>agraph1 ! t]m rural area means any area o!r ?an-- 7i7 a city or t[n t has a population ( great] ?an #ej1jjj inhabitants1 or 7ii7 ! urbaniz$ area contigu\s & adjac5t to a city or t[n describ$ 9 clause 7i71 z def9$ by ! ,bureau ( ! ,c5sus bas$ on ! late/ dec5nial c5sus ( ! ,unit$ ,/ates4 7#d7 ,transf] ( cr$it = qualify+ small projects 7,a7 ,c]tification 7i7 ,9 g5]al ,a transf] "u p>agraph 7#a77;,c7 %all be accompani$ by a c]tificate :i* includes-- 7,i7 ! c]tification = ! c]tifi$ hi/oric /ructure ref]r$ to 9 subsection 7c77#c71 7,,ii7 ! taxpay]'s "n1 address1 tax id5tification numb]1 date ( project completion1 & ! am\nt ( cr$it be+ transf]r$1 7,,iii7 ! transf]ee's "n1 address1 tax id5tification numb]1 & ! am\nt ( cr$it be+ transf]r$1 & 7,,iv7 su* o!r in=mation z may be requir$ by ! ,secret>y4 7ii7 ,transf]ability ( c]tificate ,a c]tificate issu$ "u ?is subsection to a taxpay] %all be transf]able to any o!r taxpay]4 7,b7 ,tax treatm5t relat+ to c]tificate 7i7 ,disall[ance ( d$uction ,no d$uction %all be all[$ = ! am\nt ( consid]ation paid or incurr$ by ! transf]ee4 7ii7 ,all[ance ( cr$it ,! am\nt ( cr$it transf]r$ "u p>agraph 7#a77;,c7-- 7,i7 %all n be all[$ to ! transf]or = any taxable ye>1 & 7,,ii7 %all be all[able to ! transf]ee z a cr$it det]m9$ "u ?is section = ! taxable ye> ( ! transf]ee 9 :i* su* cr$it is transf]r$4 7iii7 ,exclusion ,gross income %all n include any am\nt receiv$ 9 connection ) ! transf] ( ! c]tificate4 7,c7 ,recapture & o!r special rules ,! taxpay] :o claims a cr$it det]m9$ "u ?is section by reason ( a transf] ( an am\nt ( cr$it "u p>agraph 7#a77;,a7 ) respect to an applicable rural project %all be treat$ z ! taxpay] ) respect to su* project = purposes ( section #ej4 7,d7 ,in=mation report+ ,! transf]or & ! transf]ee %all ea* make su* reports reg>d+ ! transf] ( an am\nt ( cr$it "u p>agraph 7#a77;,c7 & conta9+ su* in=mation z ! ,secret>y may require4 ,! reports requir$ by ?is subp>agraph %all be fil$ at su* "t & 9 su* mann] z may be requir$ by ! ,secret>y4 7,e7 ,regulations ,! ,secret>y %all prescribe regulations or o!r guidance to c>ry out p>agraph 7#a77;,c7 & ?is p>agraph 9 a mann] :i* is consi/5t ) applicable requirem5ts ) respect to transf] ( cr$its "u section #fdah4 7#e7 ,election ,an election "u ?is subsection %all be made at su* "t & 9 su* mann] z ! ,secret>y may by regulations prescribe4 4 7c7 ,increas+ ! type ( build+s eligible = rehabilitation ,section #dg7;c77#a77;,b77i77,i7 is am5d$ by ins]t+ #ej p]c5t ( be=e ! adju/$ basis4 7d7 ,elim9ation ( rehabilitation cr$it basis adju/m5t 7#a7 ,9 g5]al ,section #ej7;c7 is am5d$ by add+ at ! end ! foll[+ new p>agraph3 7#f7 ,exception = rehabilitation cr$it ,9 ! case ( ! rehabilitation cr$it1 p>agraph 7#a7 %all n apply4 4 7#b7 ,treatm5t 9 case ( cr$it all[$ to lessee ,section #ej7;d7 is am5d$ by add+ at ! end ! foll[+3 ,9 ! case ( ! rehabilitation cr$it1 p>agraph 7#e77;,b7 ( ! section #dh7;d7 ref]r$ to 9 p>agraph 7#e7 ( ?is subsection %all n apply44 7e7 ,modifications reg>d+ c]ta9 tax-,exempt use prop]ty ,section #dg7;c77#b77;,b77v7 is am5d$ by add+ at ! end ! foll[+ new subclause3 7,,iii7 ,disqualifi$ lease rules to apply only 9 case ( gov]nm5t entity ,= purposes ( subclause 7,i71 except 9 ! case ( a tax-exempt entity describ$ 9 section #afh7;h77#b77;,a77i71 ! det]m9ation ( :e!r prop]ty is tax-exempt use prop]ty %all be made "u section #afh7;h7 )\t reg>d to :e!r ! prop]ty is leas$ 9 a disqualifi$ lease 7z def9$ 9 section #afh7;h77#a77;,b77ii774 4 7f7 ,effective date 7#a7 ,9 g5]al ,except z o!rwise provid$ 9 ?is subsection1 ! am5dm5ts made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ! date ( ! enactm5t ( ?is ,act4 7#b7 ,full cr$it all[$ 9 ! ye> build+ plac$ 9 s]vice ,! am5dm5t made by subsection 7a7 %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjbe4 #abjjd4 ,increase ( exclusion ( ga9 f sale ( pr9cipal resid5ce 7a7 ,9 g5]al ,section #aba7;b7 is am5d$-- 7#a7 by /rik+ #bej1jjj & ins]t+ #ejj1jjj ea* place x appe>s1 7#b7 by /rik+ #ejj1jjj & ins]t+ #a1jjj1jjj ea* place x appe>s1 7#c7 9 p>agraph 7#b77;,a71 9 ! head+1 by /rik+ #ejj1jjj & ins]t+ #a1jjj1jjj1 & 7#d7 by add+ at ! end ! foll[+ new p>agraph3 7#e7 ,adju/m5t = inflation ,9 ! case ( a taxable ye> beg9n+ aft] #bjbf1 ! #ejj1jjj & #a1jjj1jjj am\nts 9 p>agraphs 7#a71 7#b71 & 7#d7 %all be increas$ 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+ #bjbe = #bjaf 9 subp>agraph 7,a77ii7 !re(4 ,if any increase "u ?is clause is n a multiple ( #ajj1 su* increase %all be r\nd$ to ! next l[e/ multiple ( #ajj4 4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to sales & ex*anges aft] ,decemb] #ca1 #bjbe4 #abjje4 ,middle-income h\s+ tax cr$it 7a7 ,9 g5]al ,subp>t ,d ( "p ,,iv ( sub*apt] ,a ( *apt] #a is am5d$ by ins]t+ aft] section #db ! foll[+ new section3 #db;,a4 ,middle-income h\s+ cr$it 7a7 ,9 g5]al ,= purposes ( section #ch1 ! am\nt ( ! middle-income h\s+ cr$it det]m9$ "u ?is section = any taxable ye> 9 ! cr$it p]iod %all be an am\nt equal to-- 7#a7 ! applicable p]c5tage1 ( 7#b7 ! qualifi$ basis ( ea* qualifi$ middle-income build+4 7b7 ,applicable p]c5tage 7#a7 ,det]m9ation ( applicable p]c5tage ,= purposes ( ?is section-- 7,a7 ,9 g5]al ,! t]m applicable p]c5tage means1 ) respect to any build+1 ! appropriate p]c5tage prescrib$ by ! ,secret>y = ! e>li] (-- 7i7 ! mon? 9 :i* su* build+ is plac$ 9 s]vice1 or 7ii7 at ! election ( ! taxpay]1 ! mon? 9 :i* ! taxpay] & ! h\s+ cr$it ag5cy ent] into an agreem5t ) respect to su* build+ 7:i* is b9d+ on su* ag5cy1 ! taxpay]1 & all successors 9 int]e/7 z to ! h\s+ cr$it doll> am\nt to be allocat$ to su* build+4 ,a mon? may be elect$ "u clause 7ii7 only if ! election is made n lat] ?an ! #e? day aft] ! close ( su* mon?4 ,su* an election1 once made1 %all be irrevocable4 7,b7 ,me?od ( prescrib+ p]c5tages ,! p]c5tages prescrib$ by ! ,secret>y = any mon? %all be p]c5tages :i* w yield ov] a #ae-ye> p]iod am\nts ( cr$it "u subsection 7a7 :i* h a pres5t value equal to-- 7i7 #ej p]c5t ( ! qualifi$ basis ( a new build+ :i* is n ,f$]ally subsidiz$ = ! taxable ye>1 & 7ii7 #bj p]c5t ( ! qualifi$ basis ( a build+ n describ$ 9 clause 7i74 7,c7 ,me?od ( disc\nt+ ,! pres5t value "u subp>agraph 7,b7 %all be det]m9$-- 7i7 z ( ! la/ day ( ! #a/ ye> ( ! #ae-ye> p]iod ref]r$ to 9 subp>agraph 7,b71 7ii7 by us+ a disc\nt rate equal to #gb p]c5t ( ! av]age ( ! annual ,f$]al mid-t]m rate & ! annual ,f$]al long-t]m rate applicable "u section #abgd7;d77#a7 to ! mon? applicable "u clause 7i7 or 7ii7 ( subp>agraph 7,a7 & comp\nd$ annually1 & 7iii7 by assum+ t ! cr$it all[able "u ?is section = any ye> is receiv$ on ! la/ day ( su* ye>4 7#b7 ,m9imum cr$it rate 7,a7 ,9 g5]al ,! applicable p]c5tage = any build+ :i* is n ,f$]ally subsidiz$ = ! taxable ye> %all n be less ?an #e p]c5t4 7,b7 ,m9imum cr$it rate = ,f$]ally subsidiz$ build+s ,9 ! case ( any build+ to :i* subp>agraph 7,a7 does n apply1 except z provid$ 9 p>agraph 7#c71 ! applicable p]c5tage %all n be less ?an #b p]c5t4 7#c7 ,exception = c]ta9 ,f$]ally subsidiz$ build+s ,9 ! case ( any build+ to :i* p>agraph 7#b77;,a7 does n apply1 ! applicable p]c5tage is z]o unless-- 7,a7 a cr$it is all[$ "u section #db ) respect to su* build+ = ! taxable ye>1 & 7,b7 su* build+ is f9anc$ by tax-exempt bonds z describ$ 9 section #db7;h77#d74 7#d7 ,cross ref]5ces 7,a7 ,= treatm5t ( c]ta9 rehabilitation exp5ditures z sep>ate new build+s1 see subsection 7e74 7,b7 ,= det]m9ation ( applicable p]c5tage = increases 9 qualifi$ basis aft] ! #a/ ye> ( ! cr$it p]iod1 see subsection 7f77#c74 7,c7 ,= au?ority ( h\s+ cr$it ag5cy to limit applicable p]c5tage & qualifi$ basis :i* may be tak5 into acc\nt "u ?is section ) respect to any build+1 see subsection 7h77#f74 7c7 ,qualifi$ basis2 qualifi$ middle-,income build+ ,= purposes ( ?is section-- 7#a7 ,qualifi$ basis 7,a7 ,det]m9ation ,! qualifi$ basis ( any qualifi$ middle-income build+ = any taxable ye> is an am\nt equal to-- 7i7 ! applicable fraction 7det]m9$ z ( ! close ( su* taxable ye>7 ( 7ii7 ! eligible basis ( su* build+ 7det]m9$ "u subsection 7d774 7,b7 ,applicable fraction ,= purposes ( subp>agraph 7,a71 ! t]m applicable fraction means ! small] ( ! unit fraction or ! floor space fraction4 7,c7 ,unit fraction ,= purposes ( subp>agraph 7,b71 ! t]m unit fraction means ! fraction-- 7i7 ! num]ator ( :i* is ! numb] ( middle-income units 9 ! build+1 & 7ii7 ! d5om9ator ( :i* is ! numb] ( resid5tial r5tal units 7:e!r or n occupi$7 9 su* build+4 7,d7 ,floor space fraction ,= purposes ( subp>agraph 7,b71 ! t]m floor space fraction means ! fraction-- 7i7 ! num]ator ( :i* is ! total floor space ( ! middle-income units 9 su* build+1 & 7ii7 ! d5om9ator ( :i* is ! total floor space ( ! resid5tial r5tal units 7:e!r or n occupi$7 9 su* build+4 7#b7 ,qualifi$ middle-income build+ ,! t]m qualifi$ middle-income build+ means any build+ :i* is "p ( a qualifi$ middle-income h\s+ project at all times dur+ ! p]iod-- 7,a7 beg9n+ on ! #a/ day 9 ! cr$it p]iod on :i* su* build+ is "p ( su* a project1 & 7,b7 end+ on ! la/ day ( ! cr$it p]iod ) respect to su* build+4 7d7 ,eligible basis ,= purposes ( ?is section-- 7#a7 ,new build+s ,! eligible basis ( a new build+ is its adju/$ basis z ( ! close ( ! #a/ taxable ye> ( ! cr$it p]iod4 7#b7 ,exi/+ build+s 7,a7 ,9 g5]al ,! eligible basis ( an exi/+ build+ is-- 7i7 9 ! case ( a build+ :i* meets ! requirem5ts ( subp>agraph 7,b71 its adju/$ basis z ( ! close ( ! #a/ taxable ye> ( ! cr$it p]iod1 & 7ii7 z]o 9 any o!r case4 7,b7 ,requirem5ts ,a build+ meets ! requirem5ts ( ?is subp>agraph if-- 7i7 ! build+ is acquir$ by pur*ase 7z def9$ 9 section #agi7;d77#b771 7ii7 !re is a p]iod ( at lea/ #aj ye>s betwe5 ! date ( its acquisition by ! taxpay] & ! date ! build+ 0 la/ plac$ 9 s]vice1 7iii7 ! build+ 0 n previ\sly plac$ 9 s]vice by ! taxpay] or by any p]son :o 0 a relat$ p]son ) respect to ! taxpay] z ( ! "t previ\sly plac$ 9 s]vice1 & 7iv7 except z provid$ 9 subsection 7f77#e71 a cr$it is all[able "u subsection 7a7 by reason ( subsection 7e7 ) respect to ! build+4 7,c7 ,adju/$ basis ,= purposes ( subp>agraph 7,a71 ! adju/$ basis ( any build+ %all n include s mu* ( ! basis ( su* build+ z is det]m9$ by ref]5ce to ! basis ( o!r prop]ty held at any "t by ! p]son acquir+ ! build+4 7,d7 ,special rules 7i7 ,special rules = c]ta9 transf]s ,= purposes ( det]m9+ "u subp>agraph 7,b77ii7 :5 a build+ 0 la/ plac$ 9 s]vice1 !re %all n be tak5 into acc\nt any placem5t 9 s]vice-- 7,i7 9 connection ) ! acquisition ( ! build+ 9 a transaction 9 :i* ! basis ( ! build+ 9 ! h&s ( ! p]son acquir+ x is det]m9$ 9 :ole or 9 "p by ref]5ce to ! adju/$ basis ( su* build+ 9 ! h&s ( ! p]son f :om acquir$1 7,,ii7 by a p]son ^: basis 9 su* build+ is det]m9$ "u section #ajad7;a7 7relat+ to prop]ty acquir$ f a dec$5t71 7,,iii7 by any gov]nm5tal unit or qualifi$ nonpr(it organization if ! requirem5ts ( subp>agraph 7,b77ii7 are met ) respect to ! placem5t 9 s]vice by su* unit or organization & all ! income f su* prop]ty is exempt f ,f$]al income taxation1 7,,iv7 by any p]son :o acquir$ su* build+ by =eclosure 7or by in/rum5t 9 lieu ( =eclosure7 ( any pur*ase-money security int]e/ held by su* p]son if ! requirem5ts ( subp>agraph 7,b77ii7 are met ) respect to ! placem5t 9 s]vice by su* p]son & su* build+ is resold )9 #ab mon?s aft] ! date su* build+ is plac$ 9 s]vice by su* p]son aft] su* =eclosure1 or 7,v7 ( a s+le-family resid5ce by any individual :o own$ & us$ su* resid5ce = no o!r purpose ?an z 8 pr9cipal resid5ce4 7ii7 ,relat$ p]son ,= purposes ( subp>agraph 7,b77iii71 a p]son 7h]e9aft] 9 ?is subclause ref]r$ to z ! relat$ p]son7 is relat$ to any p]son if ! relat$ p]son be>s a relation%ip to su* p]son specifi$ 9 section #bfg7;b7 or #gjg7;b77#a71 or ! relat$ p]son & su* p]son are engag$ 9 trades or bus9esses "u common control 7)9 ! mean+ ( subsections 7a7 & 7b7 ( section #eb74 7#c7 ,special rules relat+ to det]m9ation ( adju/$ basis ,= purposes ( ?is subsection-- 7,a7 ,9 g5]al ,except z provid$ 9 subp>agraph 7,b71 ! adju/$ basis ( any build+ %all be det]m9$ )\t reg>d to ! adju/$ basis ( any prop]ty :i* is n resid5tial r5tal prop]ty4 7,b7 ,basis ( prop]ty 9 common areas1 etc41 includ$ 7i7 ,9 g5]al ,except z provid$ 9 clause 7ii71 ! adju/$ basis ( any build+ %all be det]m9$ by tak+ into acc\nt ! adju/$ basis ( prop]ty 7( a "* subject to ! all[ance = depreciation7 us$ 9 common areas or provid$ z comp>able am5ities to all resid5tial r5tal units 9 su* build+4 7ii7 ,special rule ,9 ! case ( any build+ = :i* ! l[-income h\s+ tax cr$it is all[able "u section #db1 ! adju/$ basis ( ! build+ "u ?is section %all be det]m9$ )\t reg>d to prop]ty us$ 9 common areas or provid$ z comp>able am5ities to all resid5tial r5tal units 9 su* build+4 7,c7 ,no r$uction = depreciation ,! adju/$ basis ( any build+ %all be det]m9$ )\t reg>d to p>agraphs 7#b7 & 7#c7 ( section #ajaf7;a74 7#d7 ,special rules = det]m9+ eligible basis 7,a7 ,f$]al grants n tak5 into acc\nt 9 det]m9+ eligible basis ,! eligible basis ( a build+ %all n include any co/s f9anc$ ) ! proce$s ( a ,f$]ally fund$ grant4 7,b7 ,increase 9 cr$it = build+s 9 high co/ areas 7i7 ,9 g5]al ,9 ! case ( any build+ locat$ 9 a difficult developm5t area :i* is designat$ = purposes ( ?is subp>agraph-- 7,i7 9 ! case ( a new build+1 ! eligible basis ( su* build+ %all be #acj p]c5t ( su* basis det]m9$ )\t reg>d to ?is subp>agraph1 & 7,,ii7 9 ! case ( an exi/+ build+1 ! rehabilitation exp5ditures tak5 into acc\nt "u subsection 7e7 %all be #acj p]c5t ( su* exp5ditures det]m9$ )\t reg>d to ?is subp>agraph4 7ii7 ,limitation ,clause 7i7 %all n apply to any build+ if p>agraph 7#a7 ( subsection 7h7 does n apply to any portion ( ! eligible basis ( su* build+ by reason ( p>agraph 7#i7 ( su* subsection4 7iii7 ,difficult developm5t areas 7,i7 ,9 g5]al ,! t]m difficult developm5t areas means any area designat$ by ! ,secret>y ( ,h\s+ & ,urban ,developm5t z an area :i* has high con/ruction1 l&1 or utility co/s relative to area m$ian gross income1 any rural area1 & any ,indian area4 7,,ii7 ,rural area ,= purposes ( subclause 7,i71 ! t]m rural area means any non-metropolitan area1 or any rural area z def9$ by section #ebj ( ! ,h\s+ ,act ( #aidi1 :i* is id5tifi$ by ! qualifi$ allocation plan "u subsection 7m77#a77;,b74 7,,iii7 ,indian area ,= purposes ( subclause 7,i71 ! t]m ,indian area means any ,indian area 7z def9$ 9 section #d7aa7 ( ! ,native ,am]ican ,h\s+ ,assi/ance & ,self ,det]m9ation ,act ( #aiif 7#be ,u4,s4,c4 #dajc7aa7774 7,,iv7 ,special rule = build+s 9 ,indian areas ,9 ! case ( an area :i* is a difficult developm5t area solely because x is an ,indian area1 a build+ %all n be treat$ z locat$ 9 su* area unless su* build+ is assi/$ or f9anc$ "u ! ,native ,am]ican ,h\s+ ,assi/ance & ,self ,det]m9ation ,act ( #aiif 7#be ,u4,s4,c4 #daja et seq47 or ! project sponsor is an ,indian tribe 7z def9$ 9 section #de;,a7c77#f771 a tribally designat$ h\s+ entity 7z def9$ 9 section #d7bb7 ( su* ,act 7#be ,u4,s4,c4 #dajc7bb7771 or :olly own$ or controll$ by su* an ,indian tribe or tribally designat$ h\s+ entity4 7,v7 ,limit on areas designat$ ,! portions ( metropolitan /ati/ical areas :i* may be designat$ = purposes ( ?is subp>agraph %all n exce$ an aggregate area hav+ #bj p]c5t ( ! population ( su* metropolitan /ati/ical areas4 ,a comp>able rule %all apply to nonmetropolitan areas4 7iv7 ,special rules & def9itions ,= purposes ( ?is subp>agraph-- 7,i7 population %all be det]m9$ on ! basis ( ! mo/ rec5t dec5nial c5sus = :i* data are available1 7,,ii7 area m$ian gross income %all be det]m9$ 9 accordance ) subsection 7g77#d71 7,,iii7 ! t]m metropolitan /ati/ical area has ! same mean+ z :5 us$ 9 section #adc7k77#b77;,b71 & 7,,iv7 ! t]m nonmetropolitan area means any c\nty 7or portion !re(7 :i* is n )9 a metropolitan /ati/ical area4 7v7 ,build+s designat$ by ,/ate ,h\s+ ,cr$it ,ag5cy ,any build+ :i* is designat$ by ! ,/ate h\s+ cr$it ag5cy z requir+ ! increase 9 cr$it "u ?is subp>agraph 9 ord] = su* build+ to be f9ancially feasible z "p ( a qualifi$ middle-income h\s+ project %all be treat$ = purposes ( ?is subp>agraph z locat$ 9 a difficult developm5t area :i* is designat$ = purposes ( ?is subp>agraph4 7#e7 ,cr$it all[able = c]ta9 build+s acquir$ dur+ #aj-ye> p]iod ,on application by ! taxpay]1 ! ,secret>y may waive p>agraph 7#b77;,b77ii7 ) respect to any build+ acquir$ f an insur$ depository in/itution 9 default 7z def9$ 9 section #c ( ! ,f$]al ,deposit ,insurance ,act7 or f a receiv] or cons]vator ( su* an in/itution4 7#f7 ,acquisition ( build+ be=e end ( prior cr$it p]iod 7,a7 ,9 g5]al ,"u regulations prescrib$ by ! ,secret>y1 9 ! case ( a build+ describ$ 9 subp>agraph 7,b7 7or int]e/ !re97 :i* is acquir$ by ! taxpay]-- 7i7 p>agraph 7#b77;,b7 %all n apply1 b 7ii7 ! cr$it all[able by reason ( subsection 7a7 to ! taxpay] = any p]iod aft] su* acquisition %all be equal to ! am\nt ( cr$it :i* w\ld h be5 all[able "u subsection 7a7 = su* p]iod to ! prior own] ref]r$ to 9 subp>agraph 7,b7 _h su* own] n dispos$ ( ! build+4 7,b7 ,description ( build+ ,a build+ is describ$ 9 ?is subp>agraph if-- 7i7 a cr$it 0 all[$ by reason ( subsection 7a7 to any prior own] ( su* build+1 & 7ii7 ! taxpay] acquir$ su* build+ be=e ! end ( ! cr$it p]iod = su* build+ ) respect to su* prior own] 7det]m9$ )\t reg>d to any disposition by su* prior own]74 7e7 ,rehabilitation exp5ditures treat$ z sep>ate new build+ 7#a7 ,9 g5]al ,rehabilitation exp5ditures paid or incurr$ by ! taxpay] ) respect to any build+ %all be treat$ = purposes ( ?is section z a sep>ate new build+4 7#b7 ,rehabilitation exp5ditures ,= purposes ( p>agraph 7#a7-- 7,a7 ,9 g5]al ,! t]m rehabilitation exp5ditures means am\nts *>geable to capital acc\nt & incurr$ = prop]ty 7or additions or improvem5ts to prop]ty7 ( a "* subject to ! all[ance = depreciation 9 connection ) ! rehabilitation ( a build+4 7,b7 ,co/ ( acquisition1 etc41 n includ$ ,su* t]m does n include ! co/ ( acquir+ any build+ 7or int]e/ !re97 or any am\nt n p]mitt$ to be tak5 into acc\nt "u p>agraph 7#c7 ( subsection 7d74 7,c7 ,c]ta9 relocation co/s ,9 ! case ( a rehabilitation ( a build+ to :i* section #bhj;,b does n apply1 co/s relat+ to ! relocation ( occupants1 includ+-- 7i7 am\nts paid to occupants1 7ii7 am\nts paid to ?ird p>ties = s]vices relat+ to su* relocation1 & 7iii7 am\nts paid = tempor>y h\s+ = occupants1 %all be treat$ z *>geable to capital acc\nt & tak5 into acc\nt z rehabilitation exp5ditures4 7#c7 ,m9imum exp5ditures to qualify 7,a7 ,9 g5]al ,p>agraph 7#a7 %all apply to rehabilitation exp5ditures ) respect to any build+ only if-- 7i7 ! exp5ditures are allocable to #a or m middle-income units or sub/antially b5efit su* units1 & 7ii7 ! am\nt ( su* exp5ditures dur+ any #bd-mon? p]iod meets ! requirem5ts ( :i*ev] ( ! foll[+ subclauses requires ! great] am\nt ( su* exp5ditures3 7,i7 ,! requirem5t ( ?is subclause is met if su* am\nt is n less ?an #bj p]c5t ( ! adju/$ basis ( ! build+ 7det]m9$ z ( ! #a/ day ( su* p]iod & )\t reg>d to p>agraphs 7#b7 & 7#c7 ( section #ajaf7;a774 7,,ii7 ,! requirem5t ( ?is subclause is met if ! qualifi$ basis attributable to su* am\nt1 :5 divid$ by ! numb] ( middle-income units 9 ! build+1 is equal to or great] ?an ! doll> am\nt 9 effect "u section #db7;e77#c77;,a77ii77,,ii7 = ! cal5d> ye> 9 :i* su* exp5ditures are treat$ z plac$ 9 s]vice "u p>agraph 7#d74 7,b7 ,date ( det]m9ation ,! det]m9ation "u subp>agraph 7,a7 %all be made z ( ! close ( ! #a/ taxable ye> 9 ! cr$it p]iod ) respect to su* exp5ditures4 7#d7 ,special rules ,= purposes ( apply+ ?is section ) respect to exp5ditures :i* are treat$ z a sep>ate build+ by reason ( ?is subsection-- 7,a7 su* exp5ditures %all be treat$ z plac$ 9 s]vice at ! close ( ! #bd-mon? p]iod ref]r$ to 9 p>agraph 7#c77;,a71 & 7,b7 ! applicable fraction "u subsection 7c77#a7 %all be ! applicable fraction = ! build+ 7)\t reg>d to p>agraph 7#a77 ) respect to :i* ! exp5ditures 7 incurr$4 ,no?+ 9 subsection 7d77#b7 %all prev5t a cr$it f be+ all[$ by reason ( ?is subsection4 7#e7 ,no d\ble c\nt+ ,rehabilitation exp5ditures may1 at ! election ( ! taxpay]1 be tak5 into acc\nt "u ?is subsection or subsection 7d77#b77;,a77i7 b n "u bo? su* subsections4 7#f7 ,regulations to apply subsection ) respect to gr\p ( units 9 build+ ,! ,secret>y may prescribe regulations1 consi/5t ) ! purposes ( ?is subsection1 treat+ a gr\p ( units ) respect to :i* rehabilitation exp5ditures are incurr$ z a sep>ate new build+4 7f7 ,def9ition & special rules relat+ to cr$it p]iod 7#a7 ,cr$it p]iod def9$ ,= purposes ( ?is section1 ! t]m cr$it p]iod means1 ) respect to any build+1 ! p]iod ( #ae taxable ye>s beg9n+ )-- 7,a7 ! taxable ye> 9 :i* ! build+ is plac$ 9 s]vice1 or 7,b7 at ! election ( ! taxpay]1 ! succe$+ taxable ye>1 b only if ! build+ is a qualifi$ middle-income build+ z ( ! close ( ! #a/ ye> ( su* p]iod4 ,! election "u subp>agraph 7,b71 once made1 %all be irrevocable4 7#b7 ,special rule = #a/ ye> ( cr$it p]iod 7,a7 ,9 g5]al ,! cr$it all[able "u subsection 7a7 ) respect to any build+ = ! #a/ taxable ye> ( ! cr$it p]iod %all be det]m9$ by sub/itut+ = ! applicable fraction "u subsection 7c77#a7 ! fraction-- 7i7 ! num]ator ( :i* is ! sum ( ! applicable fractions det]m9$ "u subsection 7c77#a7 z ( ! close ( ea* full mon? ( su* ye> dur+ :i* su* build+ 0 9 s]vice1 & 7ii7 ! d5om9ator ( :i* is #ab4 7,b7 ,disall[$ #a/-ye> cr$it all[$ 9 #af? ye> ,any r$uction by reason ( subp>agraph 7,a7 9 ! cr$it all[able 7)\t reg>d to subp>agraph 7,a77 = ! #a/ taxable ye> ( ! cr$it p]iod %all be all[able "u subsection 7a7 = ! #a/ taxable ye> foll[+ ! cr$it p]iod4 7#c7 ,det]m9ation ( applicable p]c5tage ) respect to increases 9 qualifi$ basis aft] #a/ ye> ( cr$it p]iod 7,a7 ,9 g5]al ,9 ! case ( any build+ :i* 0 a qualifi$ middle-income build+ z ( ! close ( ! #a/ ye> ( ! cr$it p]iod1 if-- 7i7 z ( ! close ( any taxable ye> 9 ! cr$it p]iod 7aft] ! #a/ ye> ( su* p]iod7 ! qualifi$ basis ( su* build+1 exce$s 7ii7 ! qualifi$ basis ( su* build+ z ( ! close ( ! #a/ ye> ( ! cr$it p]iod1 ! applicable p]c5tage :i* %all apply "u subsection 7a7 = ! taxable ye> to su* excess %all be ! p]c5tage equal to #b_/c ( ! applicable p]c5tage :i* 7aft] ! application ( subsection 7h77 w\ld b = ?is p>agraph apply to su* basis4 7,b7 #a/ ye> computation applies ,a rule simil> to ! rule ( p>agraph 7#b77;,a7 %all apply to any increase 9 qualifi$ basis to :i* subp>agraph 7,a7 applies = ! #a/ ye> ( su* increase4 7#d7 ,dispositions ( prop]ty ,if a build+ 7or an int]e/ !re97 is dispos$ ( dur+ any ye> = :i* cr$it is all[able "u subsection 7a71 su* cr$it %all be allocat$ betwe5 ! p>ties on ! basis ( ! numb] ( days dur+ su* ye> ! build+ 7or int]e/7 0 held by ea*4 7#e7 ,cr$it p]iod = exi/+ build+s n to beg9 be=e rehabilitation cr$it all[$ 7,a7 ,9 g5]al ,! cr$it p]iod = an exi/+ build+ %all n beg9 be=e ! #a/ taxable ye> ( ! cr$it p]iod = rehabilitation exp5ditures ) respect to ! build+4 7,b7 ,acquisition cr$it all[$ = c]ta9 build+s n all[$ a rehabilitation cr$it 7i7 ,9 g5]al ,9 ! case ( a build+ describ$ 9 clause 7ii7-- 7,i7 subsection 7d77#b77;,b77iv7 %all n apply1 & 7,,ii7 ! cr$it p]iod = su* build+ %all n beg9 be=e ! taxable ye> :i* w\ld be ! #a/ taxable ye> ( ! cr$it p]iod = rehabilitation exp5ditures ) respect to ! build+ "u ! modifications describ$ 9 clause 7ii77,,ii74 7ii7 ,build+ describ$ ,a build+ is describ$ 9 ?is clause if-- 7,i7 a waiv] is grant$ "u subsection 7d77#d7 ) respect to ! acquisition ( ! build+1 & 7,,ii7 a cr$it w\ld be all[$ = rehabilitation exp5ditures ) respect to su* build+ if subsection 7e77#c77;,a77ii77,i7 did n apply & if ! doll> am\nt 9 effect "u subsection 7e77#c77;,a77ii77,,ii7 7 two-?irds ( su* am\nt4 7g7 ,qualifi$ middle-,income h\s+ project ,= purposes ( ?is section-- 7#a7 ,9 g5]al ,! t]m qualifi$ middle-income h\s+ project means any project = resid5tial r5tal prop]ty if-- 7,a7 #fj p]c5t or m ( ! resid5tial units 9 su* project are bo? r5t-re/rict$ & occupi$ by individuals ^: income is #ajj p]c5t or less ( area m$ian gross income1 & 7,b7 n less ?an #bj p]c5t ( ! resid5tial units 9 su* project are units :i*-- 7i7 are describ$ 9 subp>agraph 7,a71 & 7ii7 are n resid5tial units :i* are tak5 into acc\nt "u section #db4 7#b7 ,r5t-re/rict$ units 7,a7 ,9 g5]al ,= purposes ( p>agraph 7#a71 a resid5tial unit is r5t-re/rict$ if ! gross r5t ) respect to su* unit does n exce$ #cj p]c5t ( ! imput$ income limitation applicable to su* unit4 ,= purposes ( ! prec$+ s5t5ce1 ! am\nt ( ! income limitation "u p>agraph 7#a7 applicable = any p]iod %all n be less ?an su* limitation applicable = ! e>lie/ p]iod ! build+ 7:i* conta9s ! unit7 0 includ$ 9 ! det]m9ation ( :e!r ! project is a qualifi$ middle-income h\s+ project4 7,b7 ,gross r5t ,= purposes ( subp>agraph 7,a71 gross r5t-- 7i7 includes any utility all[ance det]m9$ by ! ,secret>y aft] tak+ into acc\nt su* det]m9ations "u section #h ( ! ,unit$ ,/ates ,h\s+ ,act ( #aicg1 7ii7 does n include any fee = a supportive s]vice :i* is paid to ! own] ( ! unit 7on ! basis ( ! middle-income /atus ( ! t5ant ( ! unit7 by any gov]nm5tal program ( assi/ance 7or by an organization describ$ 9 section #eja7;c77#c7 & exempt f tax "u section #eja7;a77 if su* program 7or organization7 provides assi/ance = r5t & ! am\nt ( assi/ance provid$ = r5t is n sep>able f ! am\nt ( assi/ance provid$ = supportive s]vices1 & 7iii7 does n include any r5tal paym5t to ! own] ( ! unit to ! ext5t su* own] pays an equival5t am\nt to ! ,f>m]s' ,home ,adm9i/ration "u section #eae ( ! ,h\s+ ,act ( #aidi4 ,= purposes ( clause 7ii71 ! t]m supportive s]vice means any s]vice provid$ "u a plann$ program ( s]vices design$ to enable resid5ts ( a resid5tial r5tal prop]ty to rema9 indep5d5t & avoid placem5t 9 a hospital1 nurs+ home1 or int]m$iate c>e facility = ! m5tally or physically h&icapp$4 7,c7 ,imput$ income limitation applicable to unit ,= purposes ( ?is p>agraph1 ! imput$ income limitation applicable to a unit is ! income limitation :i* w\ld apply "u p>agraph 7#a7 to individuals occupy+ ! unit if ! numb] ( individuals occupy+ ! unit 7 z foll[s3 7i7 ,9 ! case ( a unit :i* does n h a sep>ate b$room1 #a individual4 7ii7 ,9 ! case ( a unit :i* has #a or m sep>ate b$rooms1 #a4e individuals = ea* sep>ate b$room4 ,9 ! case ( a project ) respect to :i* a cr$it is all[able by reason ( ?is section & = :i* f9anc+ is provid$ by a bond describ$ 9 section #adb7;a77#g71 ! imput$ income limitation %all apply 9 lieu ( ! o!rwise applicable income limitation = purposes ( apply+ section #adb7;d77#d77;,b77ii74 7,d7 ,treatm5t ( units occupi$ by individuals ^: incomes rise above limit 7i7 ,9 g5]al ,except z provid$ 9 clause 7ii71 not)/&+ an increase 9 ! income ( ! occupants ( a middle-income unit above ! income limitation applicable "u p>agraph 7#a71 su* unit %all cont9ue to be treat$ z a middle-income unit if ! income ( su* occupants initially met su* income limitation & su* unit cont9ues to be r5t-re/rict$4 7ii7 ,next available unit mu/ be r5t$ to middle-income t5ant if income rises above #adj p]c5t ( income limit ,if ! income ( ! occupants ( ! unit increases above #adj p]c5t ( ! income limitation applicable "u p>agraph 7#a71 clause 7i7 %all cease to apply to su* unit if any resid5tial r5tal unit 9 ! build+ 7( a size comp>able to1 or small] ?an1 su* unit7 is occupi$ by a new resid5t ^: income exce$s su* income limitation4 7#c7 ,date = meet+ requirem5ts 7,a7 ,9 g5]al ,except z o!rwise provid$ 9 ?is p>agraph1 a build+ %all be treat$ z a qualifi$ middle-income build+ only if ! project 7( :i* su* build+ is a "p7 meets ! requirem5ts ( p>agraph 7#a7 n lat] ?an ! close ( ! #a/ ye> ( ! cr$it p]iod = su* build+4 7,b7 ,build+s :i* rely on lat] build+s = qualification 7i7 ,9 g5]al ,9 det]m9+ :e!r a build+ 7h]e9aft] 9 ?is subp>agraph ref]r$ to z ! prior build+7 is a qualifi$ middle-income build+1 ! taxpay] may take into acc\nt #a or m additional build+s plac$ 9 s]vice dur+ ! #ab-mon? p]iod describ$ 9 subp>agraph 7,a7 ) respect to ! prior build+ only if ! taxpay] elects to apply clause 7ii7 ) respect to ea* additional build+ tak5 into acc\nt4 7ii7 ,treatm5t ( elect$ build+s ,9 ! case ( a build+ :i* ! taxpay] elects to take into acc\nt "u clause 7i71 ! p]iod "u subp>agraph 7,a7 = su* build+ %all end at ! close ( ! #ab-mon? p]iod applicable to ! prior build+4 7iii7 ,date prior build+ is treat$ z plac$ 9 s]vice ,= purposes ( det]m9+ ! cr$it p]iod = ! prior build+1 ! prior build+ %all be treat$ = purposes ( ?is section z plac$ 9 s]vice on ! mo/ rec5t date any additional build+ elect$ by ! taxpay] 7) respect to su* prior build+7 0 plac$ 9 s]vice4 7,c7 ,special rule ,a build+-- 7i7 o!r ?an ! #a/ build+ plac$ 9 s]vice z "p ( a project1 & 7ii7 o!r ?an a build+ :i* is plac$ 9 s]vice dur+ ! #ab-mon? p]iod describ$ 9 subp>agraph 7,a7 ) respect to a prior build+ :i* becomes a qualifi$ middle-income build+1 %all 9 no ev5t be treat$ z a qualifi$ middle-income build+ unless ! project is a qualifi$ middle-income h\s+ project 7)\t reg>d to su* build+7 on ! date su* build+ is plac$ 9 s]vice4 7,d7 ,projects ) m ?an #a build+ mu/ be id5tifi$ ,= purposes ( ?is section1 a project %all be treat$ z consi/+ ( only #a build+ unless1 be=e ! close ( ! #a/ cal5d> ye> 9 ! project p]iod 7z def9$ 9 subsection 7h77#a77;,f77ii771 ea* build+ :i* is 7or w be7 "p ( su* project is id5tifi$ 9 su* =m & mann] z ! ,secret>y may provide4 7#d7 ,c]ta9 rules made applicable ,p>agraphs 7#b7 7o!r ?an subp>agraph 7,a7 !re(71 7#c71 & 7#g7 ( section #adb7;d71 & section #ffeb7;j71 %all apply = purposes ( det]m9+ :e!r any project is a qualifi$ middle-income h\s+ project & :e!r any unit is a middle-income unit2 except t1 9 apply+ su* provisions = su* purposes-- 7,a7 ! t]m gross r5t %all h ! mean+ giv5 su* t]m by p>agraph 7#b77;,b7 ( ?is subsection1 & 7,b7 ! t]m applicable income limit means ! limitation "u p>agraph 7#a7 ( ?is subsection4 7#e7 ,election to treat build+ aft] cr$it p]iod z n "p ( a project ,= purposes ( ?is section1 ! taxpay] may elect to treat any build+ z n "p ( a qualifi$ middle-income h\s+ project = any p]iod beg9n+ aft] ! cr$it p]iod = su* build+4 7#f7 ,special rule :]e de m9imis equity contribution ,prop]ty %all n be treat$ z fail+ to be resid5tial r5tal prop]ty = purposes ( ?is section m]ely because ! occupant ( a resid5tial unit 9 ! project pays 7on a volunt>y basis7 to ! lessor a de m9imis am\nt to be held t[>d ! pur*ase by su* occupant ( a resid5tial unit 9 su* project if-- 7,a7 all am\nts s paid are refund$ to ! occupant on ! cessation ( 8 occupancy ( a unit 9 ! project1 & 7,b7 ! pur*ase ( ! unit is n p]mitt$ until aft] ! close ( ! cr$it p]iod ) respect to ! build+ 9 :i* ! unit is locat$4 ,any am\nt paid to ! lessor z describ$ 9 ! prec$+ s5t5ce %all be includ$ 9 gross r5t "u p>agraph 7#b7 = purposes ( det]m9+ :e!r ! unit is r5t-re/rict$4 7#g7 ,scatt]$ site projects ,build+s :i* w\ld 7b = _! lack ( proximity7 be treat$ z a project = purposes ( ?is section %all be s treat$ if all ( ! dwell+ units 9 ea* ( ! build+s are r5t-re/rict$ 7)9 ! mean+ ( p>agraph 7#b77 resid5tial r5tal units4 7#h7 ,waiv] ( c]ta9 rec]tifications ,on application by ! taxpay]1 ! ,secret>y may waive any annual rec]tification ( t5ant income = purposes ( ?is subsection1 if ! entire build+ is occupi$ by middle-income t5ants4 7#i7 ,cl>ification ( g5]al public use requirem5t ,a project does n fail to meet ! g5]al public use requirem5t solely because ( occupancy re/rictions or pref]5ces t favor t5ants-- 7,a7 ) special ne$s1 or 7,b7 :o are memb]s ( a specifi$ gr\p "u a ,f$]al program or ,/ate program or policy t supports h\s+ = su* a specifi$ gr\p4 7h7 ,limitation on aggregate cr$it all[able ) respect to projects locat$ 9 a ,/ate 7#a7 ,cr$it may n exce$ cr$it am\nt allocat$ to build+ 7,a7 ,9 g5]al ,! am\nt ( ! cr$it det]m9$ "u ?is section = any taxable ye> ) respect to any build+ %all n exce$ ! h\s+ cr$it doll> am\nt allocat$ to su* build+ "u ?is subsection4 7,b7 ,"t = mak+ allocation ,except 9 ! case ( an allocation :i* meets ! requirem5ts ( subp>agraph 7,c71 7,d71 7,e71 or 7,f71 an allocation %all be tak5 into acc\nt "u subp>agraph 7,a7 only if x is made n lat] ?an ! close ( ! cal5d> ye> 9 :i* ! build+ is plac$ 9 s]vice4 7,c7 ,exception :]e b9d+ commitm5t ,an allocation meets ! requirem5ts ( ?is subp>agraph if !re is a b9d+ commitm5t 7n lat] ?an ! close ( ! cal5d> ye> 9 :i* ! build+ is plac$ 9 s]vice7 by ! h\s+ cr$it ag5cy to allocate a specifi$ h\s+ cr$it doll> am\nt to su* build+ beg9n+ 9 a specifi$ lat] taxable ye>4 7,d7 ,exception :]e increase 9 qualifi$ basis 7i7 ,9 g5]al ,an allocation meets ! requirem5ts ( ?is subp>agraph if su* allocation is made n lat] ?an ! close ( ! cal5d> ye> 9 :i* ends ! taxable ye> to :i* x w #a/ apply b only to ! ext5t ! am\nt ( su* allocation does n exce$ ! limitation "u clause 7ii74 7ii7 ,limitation ,! limitation "u ?is clause is ! am\nt ( cr$it all[able "u ?is section 7)\t reg>d to ?is subsection7 = a taxable ye> ) respect to an increase 9 ! qualifi$ basis ( ! build+ equal to ! excess (-- 7,i7 ! qualifi$ basis ( su* build+ z ( ! close ( ! #a/ taxable ye> to :i* su* allocation w apply1 ov] 7,,ii7 ! qualifi$ basis ( su* build+ z ( ! close ( ! #a/ taxable ye> to :i* ! mo/ rec5t prior h\s+ cr$it allocation ) respect to su* build+ appli$4 7iii7 ,h\s+ cr$it doll> am\nt r$uc$ by full allocation ,not)/&+ clause 7i71 ! full am\nt ( ! allocation %all be tak5 into acc\nt "u p>agraph 7#b74 7,e7 ,exception :]e #aj p]c5t ( co/ incurr$ 7i7 ,9 g5]al ,an allocation meets ! requirem5ts ( ?is subp>agraph if su* allocation is made ) respect to a qualifi$ build+ :i* is plac$ 9 s]vice n lat] ?an ! close ( ! second cal5d> ye> foll[+ ! cal5d> ye> 9 :i* ! allocation is made4 7ii7 ,qualifi$ build+ ,= purposes ( clause 7i71 ! t]m qualifi$ build+ means any build+ :i* is "p ( a project if ! taxpay]'s basis 9 su* project 7z ( ! date :i* is #a ye> aft] ! date t ! allocation 0 made7 is m ?an #aj p]c5t ( ! taxpay]'s reasonably expect$ basis 9 su* project 7z ( ! close ( ! second cal5d> ye> ref]r$ to 9 clause 7i774 ,su* t]m does n include any exi/+ build+ unless a cr$it is all[able "u subsection 7e7 = rehabilitation exp5ditures paid or incurr$ by ! taxpay] ) respect to su* build+ = a taxable ye> end+ dur+ ! second cal5d> ye> ref]r$ to 9 clause 7i7 or ! prior taxable ye>4 7,f7 ,allocation ( cr$it on a project basis 7i7 ,9 g5]al ,9 ! case ( a project :i* includes 7or w include7 m ?an #a build+1 an allocation meets ! requirem5ts ( ?is subp>agraph if-- 7,i7 ! allocation is made to ! project = a cal5d> ye> dur+ ! project p]iod1 7,,ii7 ! allocation only applies to build+s plac$ 9 s]vice dur+ or aft] ! cal5d> ye> = :i* ! allocation is made1 & 7,,iii7 ! portion ( su* allocation :i* is allocat$ to any build+ 9 su* project is specifi$ n lat] ?an ! close ( ! cal5d> ye> 9 :i* ! build+ is plac$ 9 s]vice4 7ii7 ,project p]iod ,= purposes ( clause 7i71 ! t]m project p]iod means ! p]iod-- 7,i7 beg9n+ ) ! #a/ cal5d> ye> = :i* an allocation may be made = ! #a/ build+ plac$ 9 s]vice z "p ( su* project1 & 7,,ii7 end+ ) ! cal5d> ye> ! la/ build+ is plac$ 9 s]vice z "p ( su* project4 7#b7 ,allocat$ cr$it am\nt to apply to all taxable ye>s end+ dur+ or aft] cr$it allocation ye> ,any h\s+ cr$it doll> am\nt allocat$ to any build+ = any cal5d> ye>-- 7,a7 %all apply to su* build+ = all taxable ye>s 9 ! cr$it p]iod end+ dur+ or aft] su* cal5d> ye>1 & 7,b7 %all r$uce ! aggregate h\s+ cr$it doll> am\nt ( ! allocat+ ag5cy only = su* cal5d> ye>4 7#c7 ,h\s+ cr$it doll> am\nt = ag5cies 7,a7 ,9 g5]al ,! aggregate h\s+ cr$it doll> am\nt :i* a h\s+ cr$it ag5cy may allocate = any cal5d> ye> is ! portion ( ! ,/ate h\s+ cr$it ceil+ allocat$ "u ?is p>agraph = su* cal5d> ye> to su* ag5cy4 7,b7 ,/ate ceil+ initially allocat$ to ,/ate h\s+ cr$it ag5cies ,except z provid$ 9 subp>agraph 7,d71 ! ,/ate h\s+ cr$it ceil+ = ea* cal5d> ye> %all be allocat$ to ! h\s+ cr$it ag5cy ( su* ,/ate4 ,if !re is m ?an #a h\s+ cr$it ag5cy ( a ,/ate1 all su* ag5cies %all be treat$ z a s+le ag5cy4 7,c7 ,/ate h\s+ cr$it ceil+ ,! ,/ate h\s+ cr$it ceil+ applicable to any ,/ate = any cal5d> ye> %all be an am\nt equal to ! sum (-- 7i7 ! unus$ ,/ate h\s+ cr$it ceil+ 7if any7 ( su* ,/ate = ! prec$+ cal5d> ye>1 7ii7 ! great] (-- 7,i7 #a4jj multipli$ by ! ,/ate population1 or 7,,ii7 #a1ejj1jjj1 plus 7iii7 ! am\nt ( ,/ate h\s+ cr$it ceil+ return$ 9 ! cal5d> ye>4 ,= purposes ( clause 7i71 ! unus$ ,/ate h\s+ cr$it ceil+ = any cal5d> ye> is ! excess 7if any7 ( ! sum ( ! am\nts describ$ 9 clauses 7ii7 7r$uc$ by ! aggregate am\nts describ$ 9 p>agraph 7#aj77;,a77i7 ) respect to all elections made = su* cal5d> ye>7 & 7iii7 ov] ! aggregate h\s+ cr$it doll> am\nt allocat$ = su* ye>4 ,= purposes ( clause 7iii71 ! am\nt ( ,/ate h\s+ cr$it ceil+ return$ 9 ! cal5d> ye> equals ! h\s+ cr$it doll> am\nt previ\sly allocat$ )9 ! ,/ate to any project :i* fails to meet ! #aj p]c5t te/ "u p>agraph 7#a77;,e77ii7 on a date aft] ! close ( ! cal5d> ye> 9 :i* ! allocation 0 made or :i* does n become a qualifi$ middle-income h\s+ project )9 ! p]iod requir$ by ?is section or ! t]ms ( ! allocation or to any project ) respect to :i* an allocation is cancell$ by mutual cons5t ( ! h\s+ cr$it ag5cy & ! allocation recipi5t4 7,d7 ,/ate may provide = diff]5t allocation ,rules simil> to ! rules ( section #adf7;e7 7o!r ?an p>agraph 7#b77;,b7 !re(7 %all apply = purposes ( ?is p>agraph4 7,e7 ,population ,= purposes ( ?is p>agraph1 population %all be det]m9$ 9 accordance ) section #adf7;j74 7,f7 ,co/-(-liv+ adju/m5t 7i7 ,9 g5]al ,9 ! case ( a cal5d> ye> aft] #bjbf1 ! #a1ejj1jjj & #a4jj am\nts 9 subp>agraph 7,c7 %all ea* be increas$ by an am\nt equal to-- 7,i7 su* doll> am\nt1 multipli$ by 7,,ii7 ! co/-(-liv+ adju/m5t det]m9$ "u section #a7;f77#c7 = su* cal5d> ye> by sub/itut+ cal5d> ye> #bjbe = cal5d> ye> #bjaf 9 subp>agraph 7,a77ii7 !re(4 7ii7 ,r\nd+ 7,i7 ,9 ! case ( ! #a1adj1jjj am\nt1 any increase "u clause 7i7 :i* is n a multiple ( #e1jjj %all be r\nd$ to ! next l[e/ multiple ( #e1jjj4 7,,ii7 ,9 ! case ( ! #a4jj am\nt1 any increase "u clause 7i7 :i* is n a multiple ( #e c5ts %all be r\nd$ to ! next l[e/ multiple ( #e c5ts4 7#d7 ,portion ( ,/ate ceil+ set-aside = c]ta9 projects involv+ qualifi$ nonpr(it organizations 7,a7 ,9 g5]al ,n m ?an #ij p]c5t ( ! ,/ate h\s+ cr$it ceil+ 7det]m9$ )\t reg>d to p>agraph 7#g77 = any ,/ate = any cal5d> ye> %all be allocat$ to projects o!r ?an qualifi$ middle-income h\s+ projects describ$ 9 subp>agraph 7,b74 7,b7 ,projects involv+ qualifi$ nonpr(it organizations ,= purposes ( subp>agraph 7,a71 a qualifi$ middle-income h\s+ project is describ$ 9 ?is subp>agraph if a qualifi$ nonpr(it organization is to own an int]e/ 9 ! project 7directly or ?r\gh a p>tn]%ip7 & mat]ially p>ticipate 7)9 ! mean+ ( section #dfi7;h77 9 ! developm5t & op]ation ( ! project ?r\gh\t ! cr$it p]iod4 7,c7 ,qualifi$ nonpr(it organization ,= purposes ( ?is p>agraph1 ! t]m qualifi$ nonpr(it organization means any organization if-- 7i7 su* organization is describ$ 9 p>agraph 7#c7 or 7#d7 ( section #eja7;c7 & is exempt f tax "u section #eja7;a71 7ii7 su* organization is det]m9$ by ! ,/ate h\s+ cr$it ag5cy n to be affiliat$ ) or controll$ by a =-pr(it organization1 & 7iii7 "o ( ! exempt purposes ( su* organization includes ! fo/]+ ( middle-income h\s+4 7,d7 ,treatm5t ( c]ta9 subsidi>ies 7i7 ,9 g5]al ,= purposes ( ?is p>agraph1 a qualifi$ nonpr(it organization %all be treat$ z satisfy+ ! own]%ip & mat]ial p>ticipation te/ ( subp>agraph 7,b7 if any qualifi$ corporation 9 :i* su* organization holds /ock satisfies su* te/4 7ii7 ,qualifi$ corporation ,= purposes ( clause 7i71 ! t]m qualifi$ corporation means any corporation if #ajj p]c5t ( ! /ock ( su* corporation is held by #a or m qualifi$ nonpr(it organizations at all times dur+ ! p]iod su* corporation is 9 exi/5ce4 7,e7 ,/ate may n ov]ride set-aside ,no?+ 9 subp>agraph 7,e7 ( p>agraph 7#c7 %all be con/ru$ to p]mit a ,/ate n to comply ) subp>agraph 7,a7 ( ?is p>agraph4 7#e7 ,build+s eligible = cr$it only if m9imum long-t]m commitm5t to middle-income h\s+ 7,a7 ,9 g5]al ,no cr$it %all be all[$ by reason ( ?is section ) respect to any build+ = ! taxable ye> unless an ext5d$ middle-income h\s+ commitm5t is 9 effect z ( ! end ( su* taxable ye>4 7,b7 ,ext5d$ middle-income h\s+ commitm5t ,= purposes ( ?is p>agraph1 ! t]m ext5d$ middle-income h\s+ commitm5t means any agreem5t betwe5 ! taxpay] & ! h\s+ cr$it ag5cy-- 7i7 :i* requires t ! applicable fraction 7z def9$ 9 subsection 7c77#a77 = ! build+ = ea* taxable ye> 9 ! ext5d$ use p]iod w n be less ?an ! applicable fraction specifi$ 9 su* agreem5t & :i* prohibits ! actions describ$ 9 subclauses 7,i7 & 7,,ii7 ( subp>agraph 7,e77ii71 7ii7 :i* all[s individuals :o meet ! income limitation applicable to ! build+ "u subsection 7g7 7:e!r prospective1 pres5t1 or =m] occupants ( ! build+7 ! "r to en=ce 9 any ,/ate c\rt ! requirem5t & prohibitions ( clause 7i71 7iii7 :i* prohibits ! disposition to any p]son ( any portion ( ! build+ to :i* su* agreem5t applies unless all ( ! build+ to :i* su* agreem5t applies is dispos$ ( to su* p]son1 7iv7 :i* prohibits ! refusal to lease to a hold] ( a v\*] or c]tificate ( eligibility "u section #h ( ! ,unit$ ,/ates ,h\s+ ,act ( #aicg because ( ! /atus ( ! prospective t5ant z su* a hold]1 7v7 :i* is b9d+ on all successors ( ! taxpay]1 & 7vi7 :i*1 ) respect to ! prop]ty1 is record$ pursuant to ,/ate law z a re/rictive cov5ant4 7,c7 ,allocation ( cr$it may n exce$ am\nt necess>y to support commitm5t ,! h\s+ cr$it doll> am\nt allocat$ to any build+ may n exce$ ! am\nt necess>y to support ! applicable fraction specifi$ 9 ! ext5d$ middle-income h\s+ commitm5t = su* build+1 includ+ any increase 9 su* fraction pursuant to ! application ( subsection 7f77#c7 if su* increase is reflect$ 9 an am5d$ middle-income h\s+ commitm5t4 7,d7 ,ext5d$ use p]iod ,= purposes ( ?is p>agraph1 ! t]m ext5d$ use p]iod means ! p]iod-- 7i7 beg9n+ on ! #a/ day 9 ! cr$it p]iod on :i* su* build+ is "p ( a qualifi$ middle-income h\s+ project1 & 7ii7 end+ on ! lat] (-- 7,i7 ! date specifi$ by su* ag5cy 9 su* agreem5t1 or 7,,ii7 ! date :i* is #ae ye>s aft] ! close ( ! cr$it p]iod4 7,e7 ,exceptions if =eclosure or if no buy] will+ to ma9ta9 middle-income /atus 7i7 ,9 g5]al ,! ext5d$ use p]iod = any build+ %all t]m9ate on ! #fa/ day aft] ! taxpay] 7or a successor 9 int]e/7 provides notice to ! ,secret>y & ! h\s+ cr$it ag5cy t ! build+ has be5 acquir$ by =eclosure 7or in/rum5t 9 lieu ( =eclosure7 & t ! taxpay] int5ds ! t]m9ation ( su* p]iod1 unless1 be=e su* date1 ! ,secret>y or ! h\s+ cr$it ag5cy det]m9es t su* acquisition is "p ( an arrangem5t ) ! taxpay] a purpose ( :i* is to t]m9ate su* p]iod4 7ii7 ,eviction1 etc41 ( exi/+ middle-income t5ants n p]mitt$ ,! t]m9ation ( an ext5d$ use p]iod "u clause 7i7 %all n be con/ru$ to p]mit be=e ! close ( ! #c-ye> p]iod foll[+ su* t]m9ation-- 7,i7 ! eviction or ! t]m9ation ( t5ancy 7o!r ?an = good cause7 ( an exi/+ t5ant ( any middle-income unit1 or 7,,ii7 any increase 9 ! gross r5t ) respect to su* unit n o!rwise p]mitt$ "u ?is section4 7,f7 ,effect ( noncompliance ,if1 dur+ a taxable ye>1 !re is a det]m9ation t an ext5d$ middle-income h\s+ agreem5t 0 n 9 effect z ( ! beg9n+ ( su* ye>1 su* det]m9ation %all n apply to any p]iod be=e su* ye> & subp>agraph 7,a7 %all be appli$ )\t reg>d to su* det]m9ation if ! failure is correct$ )9 #a ye> f ! date ( ! det]m9ation4 7,g7 ,projects :i* consi/ ( m ?an #a build+ ,! application ( ?is p>agraph to projects :i* consi/ ( m ?an #a build+ %all be made "u regulations prescrib$ by ! ,secret>y4 7#f7 ,special rules 7,a7 ,build+ mu/ be locat$ )9 jurisdiction ( cr$it ag5cy ,a h\s+ cr$it ag5cy may allocate its aggregate h\s+ cr$it doll> am\nt only to build+s locat$ 9 ! jurisdiction ( ! gov]nm5tal unit ( :i* su* ag5cy is a "p4 7,b7 ,ag5cy allocations 9 excess ( limit ,if ! aggregate h\s+ cr$it doll> am\nts allocat$ by a h\s+ cr$it ag5cy = any cal5d> ye> exce$ ! portion ( ! ,/ate h\s+ cr$it ceil+ allocat$ to su* ag5cy = su* cal5d> ye>1 ! h\s+ cr$it doll> am\nts s allocat$ %all be r$uc$ 7to ! ext5t ( su* excess7 = build+s 9 ! rev]se ( ! ord] 9 :i* ! allocations ( su* am\nts 7 made4 7,c7 ,cr$it r$uc$ if allocat$ cr$it doll> am\nt is less ?an cr$it :i* w\ld be all[able )\t reg>d to plac$ 9 s]vice conv5tion1 etc 7i7 ,9 g5]al ,! am\nt ( ! cr$it det]m9$ "u ?is section ) respect to any build+ %all n exce$ ! clause 7ii7 p]c5tage ( ! am\nt ( ! cr$it :i* w\ld 7b = ?is subp>agraph7 be det]m9$ "u ?is section ) respect to su* build+4 7ii7 ,det]m9ation ( p]c5tage ,= purposes ( clause 7i71 ! clause 7ii7 p]c5tage ) respect to any build+ is ! p]c5tage :i*-- 7,i7 ! h\s+ cr$it doll> am\nt allocat$ to su* build+1 be>s to 7,,ii7 ! cr$it am\nt det]m9$ 9 accordance ) clause 7iii74 7iii7 ,det]m9ation ( cr$it am\nt ,! cr$it am\nt det]m9$ 9 accordance ) ?is clause is ! am\nt ( ! cr$it :i* w\ld 7b = ?is subp>agraph7 be det]m9$ "u ?is section ) respect to ! build+ if-- 7,i7 ?is section 7 appli$ )\t reg>d to p>agraphs 7#b77;,a7 & 7#c77;,b7 ( subsection 7f71 & 7,,ii7 subsection 7f77#c77;,a7 7 appli$ )\t reg>d to ! p]c5tage equal to #b_/c (4 7,d7 ,h\s+ cr$it ag5cy to specify applicable p]c5tage & maximum qualifi$ basis ,9 allocat+ a h\s+ cr$it doll> am\nt to any build+1 ! h\s+ cr$it ag5cy %all specify ! applicable p]c5tage & ! maximum qualifi$ basis :i* may be tak5 into acc\nt "u ?is section ) respect to su* build+4 ,! applicable p]c5tage & maximum qualifi$ basis s specifi$ %all n exce$ ! applicable p]c5tage & qualifi$ basis det]m9$ "u ?is section )\t reg>d to ?is subsection4 7#g7 ,increase 9 ,/ate ceil+ d$icat$ to c]ta9 rural developm5t projects 7,a7 ,9 g5]al ,! ,/ate h\s+ cr$it ceil+ = any cal5d> ye> %all be increas$ by an am\nt equal to #e p]c5t ( ! am\nt det]m9$ "u p>agraph 7#c77;,c77ii74 7,b7 ,use ( increas$ am\nt 7i7 ,9 g5]al ,! am\nt ( ! increase "u subp>agraph 7,a7 = any cal5d> ye> may only be allocat$ to build+s locat$ 9 a rural area4 7ii7 ,rural area ,= purposes ( clause 7i71 ! t]m rural area means any non-metropolitan area1 or any rural area z def9$ by section #ebj ( ! ,h\s+ ,act ( #aidi1 :i* is id5tifi$ by ! qualifi$ allocation plan "u subsection 7l77#a77;,b74 7#h7 ,o!r def9itions ,= purposes ( ?is subsection-- 7,a7 ,h\s+ cr$it ag5cy ,! t]m h\s+ cr$it ag5cy means any ag5cy au?oriz$ to c>ry out ?is subsection4 7,b7 ,possessions treat$ z ,/ates ,! t]m ,/ate includes a possession ( ! ,unit$ ,/ates4 7#i7 ,cr$it = build+s f9anc$ by tax-exempt bonds subject to volume cap n tak5 into acc\nt ,rules simil> to ! rules ( subsections 7h77#d71 7m77#a77;,d71 & 7m77#b77;,d7 ( section #db %all apply = purposes ( ?is subsection4 7#aj7 ,election to transf] ,/ate h\s+ cr$it ceil+ = allocations to l[-income build+s 7,a7 ,9 g5]al ,if a ,/ate h\s+ cr$it ag5cy makes an election "u ?is p>agraph ) respect to a cal5d> ye>-- 7i7 ! ,/ate h\s+ cr$it ceil+ = su* cal5d> ye> "u p>agraph 7#c7 7det]m9$ be=e application ( p>agraph 7#g77 %all be r$uc$ by ! am\nt specifi$ 9 su* election1 7ii7 ! am\nt det]m9$ "u p>agraph 7#g7 = su* cal5d> ye> %all be r$uc$ by ! am\nt specifi$ 9 su* election1 & 7iii7 ! am\nt det]m9$ "u section #db7;h77#c77;,c77ii7 = su* cal5d> ye> %all be increas$ by ! sum ( ! am\nts specifi$ 9 clauses 7i7 & 7ii71 except t any am\nt specifi$ "u clause 7ii7-- 7,i7 may only be allocat$ "u su* section to qualifi$ l[-income build+s 7z def9$ 9 section #db7 locat$ 9 a rural area 7z def9$ 9 p>agraph 7#g771 & 7,,ii7 %all n be tak5 into acc\nt = purposes ( det]m9+ ! unus$ h\s+ cr$it ceil+ "u ! second s5t5ce ( section #db7;h77#c77;,c74 7,b7 ,"t & mann] = mak+ election 7i7 ,9 g5]al ,an election "u ?is p>agraph-- 7,i7 %all be made be=e ! end ( ! cal5d> ye> ) respect to :i* su* election applies1 7,,ii7 %all be made 9 su* mann] z specifi$ by ! ,secret>y1 & 7,,iii7 %all sep>ately specify ! am\nt ( r$uctions to be made "u p>agraph 7#c7 & p>agraph 7#g74 7ii7 ,frequ5cy ,a ,/ate h\s+ cr$it ag5cy may make m ?an "o election "u ?is section ) respect to any cal5d> ye>1 & any su* election1 once made1 %all be revocable only if su* revocation is made be=e ! end ( ! cal5d> ye> ) respect to :i* su* election is made4 7,c7 ,limitation ,! aggregate am\nt specifi$ 9 elections "u ?is p>agraph ) respect to any ,/ate h\s+ cr$it ag5cy = cal5d> ye> %all n exce$ ! sum (-- 7i7 ! am\nt det]m9$ "u p>agraph 7#c77;,c77ii7 = su* cal5d> ye>1 plus 7ii7 ! am\nt det]m9$ "u p>agraph 7#g7 = su* cal5d> ye>4 7i7 ,def9itions & special rules ,= purposes ( ?is section-- 7#a7 ,middle-income unit 7,a7 ,9 g5]al ,! t]m middle-income unit means any unit 9 a build+ if-- 7i7 su* unit is r5t-re/rict$ 7z def9$ 9 subsection 7g77#b771 & 7ii7 ! individuals occupy+ su* unit meet ! income limitation applicable "u subsection 7g77#a7 to ! project ( :i* su* build+ is a "p4 7,b7 ,exceptions 7i7 ,exclusion ( l[-income units ,a unit %all n be treat$ z a middle-income unit if su* unit is a l[-income unit 7z def9$ "u section #db7;i77#c774 7ii7 ,unit mu/ be suitable = p]man5t occupancy 7,i7 ,9 g5]al ,a unit %all n be treat$ z a middle-income unit unless ! unit is suitable = occupancy & us$ o!r ?an on a transi5t basis4 7,,ii7 ,suitability = occupancy ,= purposes ( subclause 7,i71 ! suitability ( a unit = occupancy %all be det]m9$ "u regulations prescrib$ by ! ,secret>y tak+ into acc\nt local heal?1 safety1 & build+ codes4 7,,iii7 ,s+le-room occupancy units ,= purposes ( subclause 7,i71 a s+le-room occupancy unit %all n be treat$ z us$ on a transi5t basis m]ely because x is r5t$ on a mon?-by-mon? basis4 7,c7 ,special rule = build+s hav+ #d or few] units ,9 ! case ( any build+ :i* has #d or few] resid5tial r5tal units1 no unit 9 su* build+ %all be treat$ z a middle-income unit if ! units 9 su* build+ are own$ by-- 7i7 any individual :o occupies a resid5tial unit 9 su* build+1 or 7ii7 any p]son :o is relat$ 7z def9$ 9 subsection 7d77#b77;,d77ii77 to su* individual4 7,d7 ,rules relat+ to /ud5ts 7i7 ,9 g5]al ,a unit occupi$ solely by individuals :o-- 7,i7 h n atta9$ age #bd1 & 7,,ii7 are enroll$ 9 a full-"t c\rse ( /udy at an in/itution ( high] education 7z def9$ 9 section #ccjd7;f771 %all n be treat$ z a middle-income unit4 7ii7 ,exception = c]ta9 f$]al programs ,9 ! case ( a ,f$]ally-assi/$ build+ 7z def9$ 9 subsection 7d77#f77;,c77i7 ( section #db71 clause 7i7 %all n apply to a unit all ( ! occupants ( :i* meet all applicable requirem5ts "u ! h\s+ program describ$ 9 su* subsection ?r\gh :i* ! build+ is assi/$1 f9anc$1 or op]at$4 7iii7 ,o!r exceptions ,clause 7i7 %all n apply to a unit occupi$ by an individual :o-- 7,i7 is m>ri$1 if su* individual's sp\se also occupies ! unit1 7,,ii7 is a p]son ) disabilities 7z def9$ 9 section #c7;b77#c77;,e7 ( ! ,unit$ ,/ates ,h\s+ ,act ( #aicg71 7,,iii7 is a vet]an 7z def9$ 9 section #aja7b7 ( title #ch1 ,unit$ ,/ates ,code71 7,,iv7 has "o or m qualify+ *ildr5 7z def9$ 9 section #aeb7;c771 if su* *ildr5 also occupy ! unit1 ! individual is n a dep5d5t 7z def9$ 9 section #aeb1 det]m9$ )\t reg>d to subsections 7b77#a71 7b77#b71 & 7d77#a77;,b7 !re(7 ( ano!r individual1 & su* *ildr5 are n claim$ z dep5d5ts 7z s def9$7 ( ano!r individual1 or 7,v7 is1 or 0 imm$iately prior to atta9+ ! age ( majority-- 7aa7 an emancipat$ m9or or 9 legal gu>dian%ip z det]m9$ by a c\rt ( compet5t jurisdiction 9 ! individual's ,/ate ( legal resid5ce1 7bb7 "u ! c>e & placem5t responsibility ( ! ,/ate ag5cy responsible = adm9i/]+ a plan "u "p ,b or "p ,e ( title ,,iv ( ! ,social ,security ,act1 or 7cc7 0 an unaccompani$ y\? 7)9 ! mean+ ( section #gbe7f7 ( ! ,mc,kinney-,v5to ,homeless ,assi/ance ,act 7#db ,u4,s4,c4 #aadcd;a7#f777 or a homeless *ild or y\? 7)9 ! mean+ ( section #gbe7b7 ( su* ,act 7#db ,u4,s4,c4 #aadcd;a7#b7774 7,e7 ,own]-occupi$ build+s hav+ #d or few] units eligible = cr$it :]e developm5t plan 7i7 ,9 g5]al ,subp>agraph 7,c7 %all n apply to ! acquisition or rehabilitation ( a build+ pursuant to a developm5t plan ( action sponsor$ by a ,/ate or local gov]nm5t or a qualifi$ nonpr(it organization4 7ii7 ,limitation on cr$it ,9 ! case ( a build+ to :i* clause 7i7 applies1 ! applicable fraction %all n exce$ #hj p]c5t ( ! unit fraction4 7iii7 ,c]ta9 unr5t$ units treat$ z own]-occupi$ ,9 ! case ( a build+ to :i* clause 7i7 applies1 any unit :i* is n r5t$ = #ij days or m %all be treat$ z occupi$ by ! own] ( ! build+ z ( ! #a/ day x is n r5t$4 7#b7 ,new build+ ,! t]m new build+ means a build+ ! orig9al use ( :i* beg9s ) ! taxpay]4 7#c7 ,exi/+ build+ ,! t]m exi/+ build+ means any build+ :i* is n a new build+4 7#d7 ,application to e/ates & tru/s ,9 ! case ( an e/ate or tru/1 ! am\nt ( ! cr$it det]m9$ "u subsection 7a7 %all be apportion$ betwe5 ! e/ate or tru/ & ! b5efici>ies on ! basis ( ! income ( ! e/ate or tru/ allocable to ea*4 7#e7 ,impact ( t5ant's option to acquire prop]ty 7,a7 ,9 g5]al ,no ,f$]al income tax b5efit %all fail to be all[able to ! taxpay] ) respect to any qualifi$ middle-income build+ m]ely by reason ( an option held by ! t5ants 79 coop]ative =m or o!rwise7 or resid5t managem5t corporation ( su* build+ or by a qualifi$ nonpr(it organization or gov]nm5t ag5cy to pur*ase ! prop]ty or all ( ! p>tn]%ip int]e/s 7o!r ?an int]e/s ( ! p]son ex]cis+ su* option or a relat$ p>ty !reto 7)9 ! mean+ ( section #bfg7;b7 or #gjg7;b77#a777 relat+ to ! prop]ty aft] ! close ( ! cr$it p]iod = a price :i* is n less ?an ! m9imum pur*ase price det]m9$ "u subp>agraph 7,b74 7,b7 ,m9imum pur*ase price ,= purposes ( subp>agraph 7,a71 ! m9imum pur*ase price "u ?is subp>agraph is an am\nt equal to ! pr9cipal am\nt ( out/&+ indebt$ness secur$ by ! build+ 7o!r ?an indebt$ness incurr$ )9 ! #e-ye> p]iod end+ on ! date ( ! sale to ! t5ants74 ,9 ! case ( a pur*ase ( a p>tn]%ip int]e/1 ! m9imum pur*ase price is an am\nt equal to su* int]e/'s ratable %>e ( ! am\nt det]m9$ "u ! prec$+ s5t5ce4 7#f7 ,treatm5t ( rural projects ,= purposes ( ?is section1 9 ! case ( any project = resid5tial r5tal prop]ty locat$ 9 a rural area 7z def9$ 9 section #ebj ( ! ,h\s+ ,act ( #aidi71 any income limitation measur$ by ref]5ce to area m$ian gross income %all be measur$ by ref]5ce to ! great] ( area m$ian gross income or national non-metropolitan m$ian income4 7#g7 ,det]m9ation ( :e!r build+ is ,f$]ally subsidiz$ 7,a7 ,9 g5]al ,except z o!rwise provid$ 9 ?is p>agraph1 = purposes ( ?is section1 a project %all be treat$ z ,f$]ally subsidiz$ = any taxable ye> if1 at any "t dur+ su* taxable ye> or any prior taxable ye>1 !re is or 0 out/&+ any obligation ! int]e/ on :i* is exempt f tax "u section #ajc ! proce$s ( :i* are or 7 us$ 7directly or indirectly7 ) respect to su* project or ! op]ation !re(4 7,b7 ,special rule = subsidiz$ con/ruction f9anc+ ,subp>agraph 7,a7 %all n apply to any tax-exempt obligation us$ to provide con/ruction f9anc+ = any build+ if-- 7i7 su* obligation 7:5 issu$7 id5tifi$ ! build+ = :i* ! proce$s ( su* obligation w\ld be us$1 & 7ii7 su* obligation is r$eem$ be=e su* build+ is plac$ 9 s]vice4 7#h7 ,r$uction 9 basis ,9 ! case ( any build+ = :i* a cr$it is all[able "u ?is section & section #db1 ! basis ( ! build+ %all be r$uc$ by ! am\nt ( su* cr$it all[$ "u subsection 7a74 7j7 ,application ( at-,risk rules ,= purposes ( ?is section-- 7#a7 ,9 g5]al ,except z o!rwise provid$ 9 ?is subsection1 rules simil> to ! rules ( section #di7;a77#a7 7o!r ?an subp>agraphs 7,d77ii77,,ii7 & 7,d77iv77,i7 !re(71 section #di7;a77#b71 & section #di7;b77#a7 %all apply 9 det]m9+ ! qualifi$ basis ( any build+ 9 ! same mann] z su* sections apply 9 det]m9+ ! cr$it base ( prop]ty4 7#b7 ,special rules = det]m9+ qualifi$ p]son ,= purposes ( p>agraph 7#a7-- 7,a7 ,9 g5]al ,if ! requirem5ts ( subp>agraphs 7,b71 7,c71 & 7,d7 are met ) respect to any f9anc+ borr[$ f a qualifi$ nonpr(it organization1 ! det]m9ation ( :e!r su* f9anc+ is qualifi$ comm]cial f9anc+ ) respect to any qualifi$ middle-income build+ %all be made )\t reg>d to :e!r su* organization-- 7i7 is actively & regul>ly engag$ 9 ! bus9ess ( l5d+ money1 or 7ii7 is a p]son describ$ 9 section #di7;a77#a77;,d77iv77,,ii74 7,b7 ,f9anc+ secur$ by prop]ty ,! requirem5ts ( ?is subp>agraph are met ) respect to any f9anc+ if su* f9anc+ is secur$ by ! qualifi$ middle-income build+1 except t ?is subp>agraph %all n apply 9 ! case ( a f$]ally assi/$ build+ describ$ 9 section #db7;d77#f77;,c7 if-- 7i7 a security int]e/ 9 su* build+ is n p]mitt$ by a ,f$]al ag5cy hold+ or insur+ ! mortgage secur$ by su* build+1 & 7ii7 ! proce$s f ! f9anc+ 7if any7 are appli$ to acquire or improve su* build+4 7,c7 ,portion ( build+ attributable to f9anc+ ,! requirem5ts ( ?is subp>agraph are met ) respect to any f9anc+ = any taxable ye> 9 ! cr$it p]iod if1 z ( ! close ( su* taxable ye>1 n m ?an #fj p]c5t ( ! eligible basis ( ! qualifi$ middle-income build+ is attributable to su* f9anc+ 7r$uc$ by ! pr9cipal & int]e/ ( any gov]nm5tal f9anc+ :i* is "p ( a wrap-ar\nd mortgage involv+ su* f9anc+74 7,d7 ,repaym5t ( pr9cipal & int]e/ ,! requirem5ts ( ?is subp>agraph are met ) respect to any f9anc+ if su* f9anc+ is fully repaid on or be=e ! e>lie/ (-- 7i7 ! date on :i* su* f9anc+ matures1 7ii7 ! #ij? day aft] ! close ( ! cr$it p]iod ) respect to ! qualifi$ middle-income build+1 or 7iii7 ! date ( its ref9anc+ or ! sale ( ! build+ to :i* su* f9anc+ relates4 ,9 ! case ( a qualifi$ nonpr(it organization :i* is n describ$ 9 section #di7;a77#a77;,d77iv77,,ii7 ) respect to a build+1 clause 7ii7 ( ?is subp>agraph %all be appli$ z if ! date describ$ !re9 7 ! #ij? day aft] ! e>li] ( ! date ! build+ ceases to be a qualifi$ middle-income build+ or ! date :i* is #ae ye>s aft] ! close ( a cr$it p]iod ) respect !reto4 7#c7 ,pres5t value ( f9anc+ ,if ! rate ( int]e/ on any f9anc+ describ$ 9 p>agraph 7#b77;,a7 is less ?an ! rate :i* is #a p]c5tage po9t bel[ ! applicable ,f$]al rate z ( ! "t su* f9anc+ is incurr$1 !n ! qualifi$ basis 7to :i* su* f9anc+ relates7 ( ! qualifi$ middle-income build+ %all be ! pres5t value ( ! am\nt ( su* f9anc+1 us+ z ! disc\nt rate su* applicable ,f$]al rate4 ,= purposes ( ! prec$+ s5t5ce1 ! rate ( int]e/ on any f9anc+ %all be det]m9$ by treat+ int]e/ to ! ext5t ( gov]nm5t subsidies z n payable4 7#d7 ,failure to fully repay 7,a7 ,9 g5]al ,to ! ext5t t ! requirem5ts ( p>agraph 7#b77;,d7 are n met1 !n ! taxpay]'s tax "u ?is *apt] = ! taxable ye> 9 :i* su* failure occurs %all be increas$ by an am\nt equal to ! applicable portion ( ! cr$it "u ?is section ) respect to su* build+1 increas$ by an am\nt ( int]e/ = ! p]iod-- 7i7 beg9n+ ) ! due date = ! fil+ ( ! return ( tax impos$ by *apt] #a = ! #a/ taxable ye> = :i* su* cr$it 0 all[able1 & 7ii7 end+ ) ! due date = ! taxable ye> 9 :i* su* failure occurs1 det]m9$ by us+ ! und]paym5t rate & me?od "u section #ffba4 7,b7 ,applicable portion ,= purposes ( subp>agraph 7,a71 ! t]m applicable portion means ! aggregate decrease 9 ! cr$its all[$ to a taxpay] "u section #ch = all prior taxable ye>s :i* w\ld h result$ if ! eligible basis ( ! build+ 7 r$uc$ by ! am\nt ( f9anc+ :i* does n meet requirem5ts ( p>agraph 7#b77;,d74 7,c7 ,c]ta9 rules to apply ,rules simil> to ! rules ( subp>agraphs 7,a7 & 7,d7 ( section #db7;j77#d7 %all apply = purposes ( ?is subsection4 7k7 ,c]tifications & o!r reports to ,secret>y 7#a7 ,c]tification ) respect to #a/ ye> ( cr$it p]iod ,foll[+ ! close ( ! #a/ taxable ye> 9 ! cr$it p]iod ) respect to any qualifi$ middle-income build+1 ! taxpay] %all c]tify to ! ,secret>y 7at su* "t & 9 su* =m & 9 su* mann] z ! ,secret>y prescribes7-- 7,a7 ! taxable ye>1 & cal5d> ye>1 9 :i* su* build+ 0 plac$ 9 s]vice1 7,b7 ! adju/$ basis & eligible basis ( su* build+ z ( ! close ( ! #a/ ye> ( ! cr$it p]iod1 7,c7 ! maximum applicable p]c5tage & qualifi$ basis p]mitt$ to be tak5 into acc\nt by ! appropriate h\s+ cr$it ag5cy "u subsection 7h71 & 7,d7 su* o!r in=mation z ! ,secret>y may require4 ,9 ! case ( a failure to make ! c]tification requir$ by ! prec$+ s5t5ce on ! date prescrib$ !re=1 unless x is %[n t su* failure is due to reasonable cause & n to willful neglect1 no cr$it %all be all[able by reason ( subsection 7a7 ) respect to su* build+ = any taxable ye> end+ be=e su* c]tification is made4 7#b7 ,annual reports to ! ,secret>y ,! ,secret>y may require taxpay]s to submit an in=mation return 7at su* "t & 9 su* =m & mann] z ! ,secret>y prescribes7 = ea* taxable ye> sett+ =?-- 7,a7 ! qualifi$ basis = ! taxable ye> ( ea* qualifi$ middle-income build+ ( ! taxpay]1 7,b7 ! in=mation describ$ 9 p>agraph 7#a77;,c7 = ! taxable ye>1 & 7,c7 su* o!r in=mation z ! ,secret>y may require4 ,! p5alty "u section #ffeb7;j7 %all apply to any failure to submit ! return requir$ by ! ,secret>y "u ! prec$+ s5t5ce on ! date prescrib$ !re=4 7#c7 ,annual reports f h\s+ cr$it ag5cies ,ea* ag5cy :i* allocates any h\s+ cr$it am\nt to any build+ = any cal5d> ye> %all submit to ! ,secret>y 7at su* "t & 9 su* mann] z ! ,secret>y %all prescribe7 an annual report specify+-- 7,a7 ! am\nt ( h\s+ cr$it am\nt allocat$ to ea* build+ = su* ye>1 7,b7 suffici5t in=mation to id5tify ea* su* build+ & ! taxpay] ) respect !reto1 & 7,c7 su* o!r in=mation z ! ,secret>y may require4 ,! p5alty "u section #ffeb7;j7 %all apply to any failure to submit ! report requir$ by ! prec$+ s5t5ce on ! date prescrib$ !re=4 7l7 ,responsibilities ( h\s+ cr$it ag5cies 7#a7 ,plans = allocation ( cr$it among projects 7,a7 ,9 g5]al ,not)/&+ any o!r provision ( ?is section1 ! h\s+ cr$it doll> am\nt ) respect to any build+ %all be z]o unless-- 7i7 su* am\nt 0 allocat$ pursuant to a qualifi$ allocation plan ( ! h\s+ cr$it ag5cy :i* is approv$ by ! gov]nm5tal unit 79 accordance ) rules simil> to ! rules ( section #db7m77#a77 ( :i* su* ag5cy is a "p1 7ii7 a compreh5sive m>ket /udy ( ! h\s+ ne$s ( middle-income individuals 9 ! area to be s]v$ by ! project is conduct$ be=e ! cr$it allocation is made & at ! develop]'s exp5se by a dis9t]e/$ p>ty :o is approv$ by su* ag5cy1 & 7iii7 a writt5 explanation is available to ! g5]al public = any allocation ( a h\s+ cr$it doll> am\nt :i* is n made 9 accordance ) e/abli%$ priorities & selection crit]ia ( ! h\s+ cr$it ag5cy4 7,b7 ,qualifi$ allocation plan ,= purposes ( ?is p>agraph1 ! t]m qualifi$ allocation plan means any plan-- 7i7 :i* sets =? selection crit]ia to be us$ to det]m9e h\s+ priorities ( ! h\s+ cr$it ag5cy :i* are appropriate to local conditions1 7ii7 :i* also gives pref]5ce 9 allocat+ h\s+ cr$it doll> am\nts among select$ projects to-- 7,i7 projects obligat$ to s]ve qualifi$ t5ants = ! longe/ p]iods1 7,,ii7 projects 9 areas ) insuffici5t supply ( h\s+ af=dable to m$ian income h\seholds1 7,,iii7 projects :i* t>get h\s+ to t5ants at a range ( incomes betwe5 #fj & #ajj p]c5t ( area m$ian gross income1 & 7,,iv7 projects locat$ ne> transit hubs1 & 7iii7 :i* provides a proc$ure t ! ag5cy 7or an ag5t or o!r private contractor ( su* ag5cy7 w foll[ 9 monitor+ = noncompliance ) ! provisions ( ?is section & 9 notify+ ! ,int]nal ,rev5ue ,s]vice ( su* noncompliance :i* su* ag5cy becomes aw>e ( & 9 monitor+ = noncompliance ) habitability /&>ds ?r\gh regul> site visits4 7,c7 ,c]ta9 selection crit]ia mu/ be us$ ,! selection crit]ia set =? 9 a qualifi$ allocation plan mu/ include-- 7i7 project location1 7ii7 h\s+ ne$s *>act]i/ics1 7iii7 project *>act]i/ics1 includ+ :e!r ! project includes ! use ( exi/+ h\s+ z "p ( a community revitalization plan1 7iv7 sponsor *>act]i/ics1 7v7 t5ant populations ) special h\s+ ne$s1 7vi7 t5ant populations ( individuals ) *ildr51 7vii7 projects int5d$ = ev5tual t5ant own]%ip1 7viii7 ! en]gy effici5cy ( ! project1 & 7ix7 ! hi/oric nature ( ! project4 7,d7 ,c]ta9 selection crit]ia prohibit$ ,! selection crit]ia set =? 9 a qualifi$ allocation plan %all n include a requirem5t ( local approval or local contributions1 ei!r z a ?re%old qualification requirem5t or z "p ( a po9t sy/em to be consid]$ = allocations ( h\s+ cr$it doll> am\nt4 7#b7 ,cr$it allocat$ to build+ n to exce$ am\nt necess>y to assure project feasibility 7,a7 ,9 g5]al ,! h\s+ cr$it doll> am\nt allocat$ to a project %all n exce$ ! am\nt ! h\s+ cr$it ag5cy det]m9es is necess>y = ! f9ancial feasibility ( ! project & its viability z a qualifi$ middle-income h\s+ project ?r\gh\t ! cr$it p]iod4 7,b7 ,ag5cy evaluation ,9 mak+ ! det]m9ation "u subp>agraph 7,a71 ! h\s+ cr$it ag5cy %all consid]-- 7i7 ! s\rces & uses ( funds & ! total f9anc+ plann$ = ! project1 7ii7 any proce$s or receipts expect$ to be g5]at$ by reason ( tax b5efits1 7iii7 ! p]c5tage ( ! h\s+ cr$it doll> am\nt us$ = project co/s o!r ?an ! co/ ( int]m$i>ies1 & 7iv7 ! reasonabl5ess ( ! developm5tal & op]ational co/s ( ! project4 ,clause 7iii7 %all n be appli$ s z to imp$e ! developm5t ( projects 9 h>d-to-develop areas4 ,su* a det]m9ation %all n be con/ru$ to be a repres5tation or w>ranty z to ! feasibility or viability ( ! project4 7,c7 ,det]m9ation made :5 cr$it am\nt appli$ = & :5 build+ plac$ 9 s]vice 7i7 ,9 g5]al ,a det]m9ation "u subp>agraph 7,a7 %all be made z ( ea* ( ! foll[+ times3 7,i7 ,! application = ! h\s+ cr$it doll> am\nt4 7,,ii7 ,! allocation ( ! h\s+ cr$it doll> am\nt4 7,,iii7 ,! date ! build+ is plac$ 9 s]vice4 7ii7 ,c]tification z to am\nt ( o!r subsidies ,prior to ea* det]m9ation "u clause 7i71 ! taxpay] %all c]tify to ! h\s+ cr$it ag5cy ! full ext5t ( all ,f$]al1 ,/ate1 & local subsidies :i* apply 7or :i* ! taxpay] expects to apply7 ) respect to ! build+4 7m7 ,regulations ,! ,secret>y %all prescribe su* regulations z may be necess>y or appropriate to c>ry out ! purposes ( ?is section1 includ+-- 7#a7 regulations deal+ )-- 7,a7 projects :i* include m ?an #a build+ or only a portion ( a build+1 or 7,b7 build+s :i* are plac$ 9 s]vice 9 portions1 7#b7 regulations provid+ = ! application ( ?is section to %ort taxable ye>s1 7#c7 regulations prev5t+ ! avoidance ( ! rules ( ?is section1 7#d7 regulations provid+ ! opportunity = h\s+ cr$it ag5cies to correct adm9i/rative errors & omissions ) respect to allocations & record keep+ )9 a reasonable p]iod aft] _! discov]y1 tak+ into acc\nt ! availability ( regulations & o!r adm9i/rative guidance f ! ,secret>y1 & 7#e7 9 consultation ) ! ,secret>y ( ,h\s+ & ,urban ,developm5t1 regulations or guidance to promote uni=m def9itions & to /reaml9e requirem5ts = ) respect to qualifi$ middle-income build+s :i* receive fund+ f programs adm9i/rat$ by ! ,dep>tm5t ( ,h\s+ & ,urban ,developm5t1 includ+ programs au?oriz$ by ,native ,am]ican ,h\s+ ,assi/ance & ,self-,det]m9ation ,act ( #aiif4 4 7b7 ,treatm5t z "p ( g5]al bus9ess cr$it ,section #ch7;b71 z am5d$ by ! prec$+ provisions ( ?is ,act1 is am5d$ by /rik+ plus at ! end ( p>agraph 7#da71 by /rik+ ! p]iod at ! end ( p>agraph 7#db7 & ins]t+ 1 plus1 & by add+ at ! end ! foll[+ new p>agraph3 7#dc7 ! middle-income h\s+ cr$it det]m9$ "u section #db;,a7a74 4 7c7 ,r$uction 9 basis ,section #ajaf7;a7 is am5d$ by /rik+ & at ! end ( p>agraph 7#cg71 by /rik+ ! p]iod at ! end ( p>agraph 7#ch7 & ins]t+ 1 &1 & by add+ at ! end ! foll[+ new p>agraph3 7#ci7 to ! ext5t provid$ 9 section #db;,a7i77#h74 4 7d7 ,treatm5t "u base erosion m9imum tax ,section #ei;,a7b77#d7 is am5d$ by r$esignat+ subp>agraphs 7,b7 & 7,c7 z subp>agraphs 7,c7 & 7,d71 respectively1 & by ins]t+ aft] subp>agraphs 7,a7 ! foll[+ new subp>agraph3 7,b7 ! middle-income h\s+ cr$it det]m9$ "u section #db;,a7a71 4 7e7 ,con=m+ am5dm5ts relat+ to l[-,income h\s+ tax cr$it ,section #db7n7 is am5d$-- 7#a7 by /rik+ regulations 9 ! matt] prec$+ p>agraph 7#a71 7#b7 by ins]t+ regulations be=e deal+ ) 9 p>agraph 7#a71 7#c7 by ins]t+ regulations be=e provid+ 9 p>agraphs 7#b7 & 7#d71 7#d7 by ins]t+ regulations be=e prev5t+ 9 p>agraph 7#c71 7#e7 by /rik+ & at ! end ( p>agraph 7#c71 7#f7 by /rik+ ! p]iod at ! end ( p>agraph 7#d7 & ins]t+ 1 &1 & 7#g7 by add+ at ! end ! foll[+ new p>agraph3 7#e7 9 consultation ) ! ,secret>y ( ,h\s+ & ,urban ,developm5t1 regulations or guidance to promote uni=m def9itions & to /reaml9e requirem5ts = ) respect to qualifi$ l[-income build+s :i* receive fund+ f programs adm9i/rat$ by ! ,dep>tm5t ( ,h\s+ & ,urban ,developm5t1 includ+ programs au?oriz$ by ,native ,am]ican ,h\s+ ,assi/ance & ,self-,det]m9ation ,act ( #aiif4 4 7f7 ,con=m+ am5dm5ts 7#a7 ,section #de,l7e7 is am5d$ by ins]t+ or #db;,a aft] #db4 7#b7 ,section #ej7;c77#c77;,c7 is am5d$ by ins]t+ or #db;,a aft] #db4 7#c7 ,section #ee7;c77#a7 is am5d$ by ins]t+ #db;,a7j71 be=e #de7;e77#aa77;,c74 7#d7 ,subsections 7i77#c77;,c71 7i77#f77;,b77i71 & 7k77#a7 ( section #dfi are ea* am5d$ by ins]t+ or #db;,a aft] #db4 7#e7 ,! table ( sections = subp>t ,d ( "p ,,iv ( sub*apt] ,a ( *apt] #a is am5d$ by ins]t+ aft] ! item relat+ to section #db ! foll[+ new item3 ,sec4 #db;,a4 ,middle-income h\s+ cr$it4 4 7g7 ,effective date ,! am5dm5ts made by ?is section %all apply to build+s plac$ 9 s]vice aft] ,decemb] #ca1 #bjbe1 9 taxable ye>s end+ aft] su* date4 ,c ,af=d+ ! ,am]ican dream #acjja4 ,fir/-"t homebuy] refundable tax cr$it 7a7 ,9 g5]al ,section #cf is am5d$ to read z foll[s3 #cf4 ,fir/-"t homebuy] cr$it 7a7 ,all[ance ( cr$it ,9 ! case ( an individual :o is a fir/-"t homebuy] ( a pr9cipal resid5ce 9 ! ,unit$ ,/ates dur+ a 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 #aj p]c5t ( ! pur*ase price ( ! resid5ce4 7b7 ,limitations 7#a7 ,doll> limitation 7,a7 ,9 g5]al ,except z o!rwise provid$ 9 ?is p>agraph1 ! cr$it all[$ "u subsection 7a7 %all n exce$ #ae1jjj4 7,b7 ,m>ri$ individuals fil+ sep>ately ,9 ! case ( a m>ri$ individual fil+ a sep>ate return1 subp>agraph 7,a7 %all be appli$ by sub/itut+ #g1ejj = #ae1jjj4 7,c7 ,o!r individuals ,if #b or m individuals :o are n m>ri$ pur*ase a pr9cipal resid5ce1 ! am\nt ( ! cr$it all[$ "u subsection 7a7 %all be allocat$ among su* individuals 9 su* mann] z ! ,secret>y may prescribe1 except t ! total am\nt ( ! cr$its all[$ to all su* individuals %all n exce$ #ae1jjj4 7#b7 ,phase\t bas$ on area m$ian income 7,a7 ,9 g5]al ,! am\nt all[able z a cr$it "u subsection 7a7 7det]m9$ )\t reg>d to ?is p>agraph7 %all be r$uc$ 7b n bel[ z]o7 by ! am\nt :i* be>s ! same ratio to ! am\nt :i* is s all[able z-- 7i7 ! excess 7if any7 (-- 7,i7 ! modifi$ adju/$ gross income ( ! taxpay] = ! taxable ye>1 ov] 7,,ii7 #aej p]c5t ( ! applicable ,area ,m$ium ,income1 be>s to 7ii7 #bj p]c5t ( ! applicable ,area ,m$ian ,income4 7,b7 ,modifi$ adju/$ gross income ,= purposes ( subp>agraph 7,a71 ! t]m modifi$ adju/$ gross income means ! adju/$ gross income ( ! taxpay] = ! taxable ye> increas$ by any am\nt exclud$ f gross income "u section #iaa1 #ica1 or #icc4 7,c7 ,applicable ,area ,m$ian ,income ,= purposes ( subp>agraph 7,a71 ! t]m applicable ,area ,m$ian ,income means ! ,area ,m$ian ,income set by ! ,secret>y ( ,h\s+ & ,urban ,developm5t ) respect to-- 7i7 ! area 9 :i* ! pr9cipal resid5ce is locat$1 7ii7 ! size ( ! h\sehold ( ! taxpay]1 & 7iii7 ! cal5d> ye> 9 :i* ! pr9cipal resid5ce is pur*as$4 7,d7 ,regulations & guidance ,! ,secret>y1 aft] consultation ) ! ,secret>y ( ,h\s+ & ,urban ,developm5t1 %all issue su* regulations & guidance z are necess>y to c>ry out ! purposes ( ?is subp>agraph4 7#c7 ,limitation bas$ on area m$ian pur*ase price 7,a7 ,9 g5]al ,! am\nt all[able z a cr$it "u subsection 7a7 7det]m9$ )\t reg>d to ?is p>agraph7 %all be r$uc$ 7b n bel[ z]o7 by ! am\nt :i* be>s ! same ratio to ! am\nt :i* is s all[able z-- 7i7 ! excess 7if any7 (-- 7,i7 ! pur*ase price ( ! pr9cipal resid5ce1 ov] 7,,ii7 ! am\nt :i* is equal to #aaj p]c5t ( ! area m$ian pur*ase price1 be>s to 7ii7 ! am\nt :i* is equal to #ae p]c5t ( ! area m$ian pur*ase price4 7,b7 ,area m$ian pur*ase price ,= purposes ( ?is p>agraph1 ! t]m area m$ian pur*ase price means ! m$ian pur*ase price = a home 9 bo? ! area & ! cal5d> ye> 9 :i* ! pur*ase ( ! pr9cipal resid5ce takes place4 7,c7 ,regulations & guidance ,! ,secret>y1 aft] consultation ) ! ,secret>y ( ,h\s+ & ,urban ,developm5t1 %all promulgate su* regulations & guidance z are necess>y to c>ry out ! purposes ( ?is subp>agraph1 includ+ = det]m9+ ! area m$ian pur*ase price ) respect to diff]5t localities4 7#d7 ,inflation adju/m5t ,9 ! case ( any taxable ye> beg9n+ 9 a cal5d> ye> aft] #bjbf1 ea* ( ! doll> am\nts 9 p>agraph 7#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> #bjbe = cal5d> ye> #bjaf 9 subp>agraph 7,a77ii7 !re(4 ,any increase det]m9$ "u ! prec$+ s5t5ce %all be r\nd$ to ! ne>e/ multiple ( #ajj4 7#e7 ,age limitation ,no cr$it %all be all[$ "u subsection 7a7 ) respect to ! pur*ase ( any resid5ce unless ! taxpay] has atta9$ age #ah z ( ! date ( su* pur*ase4 ,9 ! case ( any taxpay] :o is m>ri$ 7)9 ! mean+ ( section #ggjc71 ! taxpay] %all be treat$ z meet+ ! age requirem5t ( ! prec$+ s5t5ce if ! taxpay] or ! taxpay]'s sp\se meets su* age requirem5t4 7c7 ,def9itions ,= purposes ( ?is section-- 7#a7 ,fir/-"t homebuy] ,! t]m fir/-"t homebuy] means any individual if su* individual 7& if m>ri$1 su* individual's sp\se7-- 7,a7 has no pres5t own]%ip int]e/ 9 any resid5ce dur+ ! #c-ye> p]iod end+ on ! date ( ! pur*ase ( ! pr9cipal resid5ce to :i* ?is section applies1 & 7,b7 has n tak5 ! cr$it "u ?is section 9 any o!r taxable ye>4 7#b7 ,pr9cipal resid5ce ,! t]m pr9cipal resid5ce has ! same mean+ z :5 us$ 9 section #aba4 7#c7 ,pur*ase 7,a7 ,9 g5]al ,! t]m pur*ase means any acquisition1 b only if-- 7i7 ! prop]ty is n acquir$ f a p]son relat$ to ! p]son acquir+ su* prop]ty 7or1 if m>ri$1 su* individual's sp\se71 7ii7 ! acquisition is f9anc$ ?r\gh a f$]ally back$ mortgage loan 7z def9$ 9 section #djbb ( ! ,,c>es ,act71 & 7iii7 ! basis ( ! prop]ty 9 ! h&s ( ! p]son acquir+ su* prop]ty is n det]m9$-- 7,i7 9 :ole or 9 "p by ref]5ce to ! adju/$ basis ( su* prop]ty 9 ! h&s ( ! p]son f :om acquir$1 or 7,,ii7 "u section #ajad7;a7 7relat+ to prop]ty acquir$ f a dec$5t74 7,b7 ,con/ruction ,a resid5ce :i* is con/ruct$ by ! taxpay] %all be treat$ z pur*as$ by ! taxpay] on ! date ! taxpay] fir/ occupies su* resid5ce4 7#d7 ,pur*ase price ,! t]m pur*ase price means ! adju/$ basis ( ! pr9cipal resid5ce on ! date su* resid5ce is pur*as$4 7#e7 ,relat$ p]sons ,a p]son %all be treat$ z relat$ to ano!r p]son if ! relation%ip betwe5 su* p]sons w\ld result 9 ! disall[ance ( losses "u section #bfg or #gjg7;b74 7d7 ,exceptions ,no cr$it "u subsection 7a7 %all be all[$ to any taxpay] = any taxable ye> ) respect to ! pur*ase ( a resid5ce if-- 7#a7 ! taxpay] disposes ( su* resid5ce 7or su* resid5ce ceases to be ! pr9cipal resid5ce ( ! taxpay] 7&1 if m>ri$1 ! taxpay]'s sp\se77 be=e ! close ( su* taxable ye>1 7#b7 a d$uction "u section #aea ) respect to su* taxpay] is all[able to ano!r taxpay] = su* taxable ye>1 or 7#c7 ! taxpay] fails to atta* to ! return ( tax = su* taxable ye> a prop]ly execut$ copy ( ! settlem5t /atem5t us$ to complete su* pur*ase4 7e7 ,report+ ,if ! ,secret>y requires in=mation report+ "u section #fjde by a p]son describ$ 9 subsection 7e77#b7 !re( to v]ify ! eligibility ( taxpay]s = ! cr$it all[able by ?is section1 ! exception provid$ by section #fjde7;e77#e7 %all n apply4 7f7 ,recapture ( cr$it 7#a7 ,9 g5]al ,except z o!rwise provid$ 9 ?is subsection1 if1 dur+ any taxable ye> be=e ! close ( ! recapture p]iod1 a taxpay] disposes ( ! pr9cipal resid5ce ) respect to :i* a cr$it 0 all[$ "u subsection 7a7 7or su* resid5ce ceases to be ! pr9cipal resid5ce ( ! taxpay]71 ! tax impos$ by ?is *apt] = su* taxable ye> %all be increas$ by ! recov]able am\nt det]m9$ 9 p>agraph 7#b74 7#b7 ,recov]able am\nt ,= purposes ( p>agraph 7#a71 ! recov]able am\nt is ! product (-- 7,a7 #be p]c5t ( ! am\nt ( ! cr$it all[$ "u subsection 7a71 multipli$ by 7,b7 ! numb] ( taxable ye>s rema9+ 9 ! recapture p]iod z ( ! beg9n+ ( ! taxable ye> 9 :i* ! taxpay] disposes ( ! pr9cipal resid5ce4 7#c7 ,limitation bas$ on ga9 ,9 ! case ( ! sale ( ! pr9cipal resid5ce to a p]son :o is n relat$ to ! taxpay]1 ! increase 9 tax det]m9$ "u p>agraph 7#a7 %all n exce$ ! am\nt ( ga9 7if any7 on su* sale4 ,solely = purposes ( ! prec$+ s5t5ce1 ! adju/$ basis ( su* resid5ce %all be r$uc$ by ! am\nt ( ! cr$it all[$ "u subsection 7a74 7#d7 ,exceptions 7,a7 ,dea? ( a taxpay] ,p>agraph 7#a7 %all n apply to any taxable ye> end+ aft] ! date ( ! taxpay]'s dea?4 7,b7 ,involunt>y conv]sion ,p>agraph 7#a7 %all n apply 9 ! case ( a resid5ce :i* is compulsorily or involunt>ily conv]t$ 7)9 ! mean+ ( section #ajcc7;a77 if ! taxpay] acquires a new pr9cipal resid5ce dur+ ! #b-ye> p]iod beg9n+ on ! date ( ! disposition or cessation ref]r$ to 9 p>agraph 7#a74 ,p>agraph 7#a7 %all apply to su* new pr9cipal resid5ce dur+ ! recapture p]iod 9 ! same mann] z if su* new pr9cipal resid5ce 7 ! conv]t$ resid5ce4 7,c7 ,transf]s betwe5 sp\ses or incid5t to divorce ,9 ! case ( a transf] ( a resid5ce to :i* section #ajda7;a7 applies-- 7i7 p>agraph 7#a7 %all n apply to su* transf]1 & 7ii7 9 ! case ( taxable ye>s end+ aft] su* transf]1 p>agraph 7#a7 %all apply to ! transf]ee 9 ! same mann] z if su* transf]ee 7 ! transf]or 7& %all n apply to ! transf]or74 7,d7 ,special rule = memb]s ( ! ,arm$ ,=ces1 etc 7i7 ,9 g5]al ,9 ! case ( ! disposition ( a pr9cipal resid5ce by an individual 7or a cessation ref]r$ to 9 p>agraph 7#a77 aft] ! date ( ! enactm5t ( ?is section1 9 connection ) ,gov]nm5t ord]s receiv$ by su* individual1 or su* individual's sp\se1 = qualifi$ (ficial ext5d$ duty s]vice1 p>agraph 7#a7 & subsection 7d77#b7 %all n apply to su* disposition 7or cessation74 7ii7 ,qualifi$ (ficial ext5d$ duty s]vice ,= purposes ( ?is section1 ! t]m qualifi$ (ficial ext5d$ duty s]vice means s]vice on qualifi$ (ficial ext5d$ duty z-- 7,i7 a memb] ( ! uni=m$ s]vices1 7,,ii7 a memb] ( ! ,=eign ,s]vice ( ! ,unit$ ,/ates1 or 7,,iii7 an employee ( ! intellig5ce community4 7iii7 ,def9itions ,any t]m us$ 9 ?is subp>agraph :i* is also us$ 9 p>agraph 7#i7 ( section #aba7;d7 %all h ! same mean+ z :5 us$ 9 su* p>agraph4 7,e7 ,disposition ( resid5ce 9 connection ) *ange ( employm5t ,9 ! case ( ! disposition ( a pr9cipal resid5ce by an individual 7or a cessation ref]r$ to 9 p>agraph 7#a77 aft] ,decemb] #ca1 #bjbb1 9 connection ) a *ange ( employm5t :i* meets ! conditions describ$ 9 section #bag7;c71 p>agraph 7#a7 %all n apply to su* disposition 7or cessation74 7#e7 ,jo9t returns ,9 ! case ( a cr$it all[$ "u subsection 7a7 ) respect to a jo9t return1 half ( su* cr$it %all be treat$ z hav+ be5 all[$ to ea* individual fil+ su* return = purposes ( ?is subsection4 7#f7 ,return requirem5t ,if ! tax impos$ by ?is *apt] = ! taxable ye> is increas$ "u ?is subsection1 ! taxpay] %all1 not)/&+ section #fjab1 be requir$ to file a return ) respect to ! taxes impos$ "u ?is subtitle4 7#g7 ,recapture p]iod ,= purposes ( ?is subsection1 ! t]m recapture p]iod means ! #d taxable ye>s beg9n+ ) ! taxable ye> 9 :i* ! pur*ase ( ! pr9cipal resid5ce = :i* a cr$it is all[$ "u subsection 7a7 0 made4 7g7 ,election ,to treat pur*ase 9 prior ye> ,9 ! case ( a pur*ase ( a pr9cipal resid5ce aft] ,decemb] #ca1 #bjbf1 a taxpay] may elect to treat su* pur*ase z made on ,decemb] #ca ( ! cal5d> ye> prec$+ su* pur*ase = purposes ( ?is section 7o!r ?an subsections 7b77#d71 7c71 & 7h774 7h7 ,transf] ( cr$it 7#a7 ,9 g5]al ,subject to su* regulations & o!r guidance z ! ,secret>y det]m9es necess>y1 a taxpay] may elect t ! cr$it :i* w\ld 7b = ?is subsection7 be all[$ to su* taxpay] ) respect to ! pur*ase ( a pr9cipal resid5ce %all be all[$ to ! mortgage l5d] ) respect to su* pur*ase & n to su* taxpay]4 7#b7 ,eligible entity ,= purposes ( ?is subsection1 ! t]m eligible entity means1 ) respect to ! pur*ase ( ! pr9cipal resid5ce = :i* ! cr$it is all[$ "u subsection 7a71 ! mortgage l5d] :i* provides ! mortgage to ! taxpay] & has-- 7,a7 regi/]$ ) ! ,secret>y = purposes ( ?is p>agraph1 at su* "t1 & 9 su* =m & mann]1 z ! ,secret>y may prescribe1 7,b7 prior to ! election describ$ 9 p>agraph 7#a7 & n lat] ?an at ! "t ( su* pur*ase1 disclos$ to ! taxpay] mak+ su* pur*ase-- 7i7 ! value ( ! cr$it all[$ "u subsection 7a71 & 7ii7 ! am\nt provid$ by ! mortgage l5d] to su* taxpay] z a condition ( ! election describ$ 9 p>agraph 7#a74 7,c7 n lat] ?an at ! "t ( su* pur*ase1 made paym5t to su* taxpay] 7:e!r 9 ca% or 9 ! =m ( a p>tial paym5t or d[n paym5t = ! pur*ase ( su* pr9cipal resid5ce7 9 an am\nt equal to ! cr$it o!rwise all[able to su* taxpay]1 & 7,d7 ) respect to any inc5tive o!rwise available = tak+ a mortgage = :i* a cr$it is all[$ "u ?is section1 includ+ any inc5tive 9 ! =m ( a rebate or disc\nt provid$ by ! mortgage l5d]1 ensur$ t-- 7i7 ! availability or use ( su* inc5tive %all n limit ! ability ( a taxpay] to make an election describ$ 9 p>agraph 7#a71 & 7ii7 su* election %all n limit ! value or use ( su* inc5tive4 7#c7 ,tim+ ,an election describ$ 9 p>agraph 7#a7 %all be made by ! taxpay] n lat] ?an ! date on :i* ! pur*ase ( ! pr9cipal resid5ce ) respect to :i* ! cr$it "u subsection 7a7 is all[$ is made4 7#d7 ,revocation ( regi/ration ,^u det]m9ation by ! ,secret>y t a mortgage l5d] has fail$ to comply ) ! requirem5ts describ$ 9 p>agraph 7#b71 ! ,secret>y may revoke ! regi/ration 7z describ$ 9 subp>agraph 7,a7 ( su* p>agraph7 ( su* mortgage l5d]4 7#e7 ,tax treatm5t ( paym5ts ,) respect to any paym5t describ$ 9 p>agraph 7#b77;,c71 su* paym5t-- 7,a7 %all n be includible 9 ! gross income ( ! taxpay]1 & 7,b7 ) respect to ! mortgage l5d]1 %all n be d$uctible "u ?is title4 7#f7 ,advance paym5t to mortgage l5d]s 7,a7 ,9 g5]al ,! ,secret>y %all e/abli% a program to make advance paym5ts to any eligible entity 9 an am\nt equal to ! cumulative am\nt ( ! cr$its all[$ "u subsection 7a7 ) respect to any mortgages issu$ by su* entity = :i* an election describ$ 9 p>agraph 7#a7 has be5 made4 7,b7 ,excessive paym5ts ,rules simil> to ! rules ( section #fdag7;d77#f7 %all apply = purposes ( ?is p>agraph4 7,c7 ,treatm5t ( advance paym5ts ,= purposes ( section #acbd ( title #ca1 ,unit$ ,/ates ,code1 ! paym5ts "u subp>agraph 7,a7 %all be treat$ 9 ! same mann] z a refund due f a cr$it provision ref]r$ to 9 subsection 7b77#b7 ( su* section4 7#g7 ,recapture ,9 ! case ( any taxpay] :o has made an election describ$ 9 p>agraph 7#a7 ) respect to ! pur*ase ( a pr9cipal resid5ce & receiv$ a paym5t describ$ 9 p>agraph 7#b77;,c7 f an eligible entity1 su* pr9cipal resid5ce %all be treat$ z a pr9cipal resid5ce ) respect to :i* a cr$it 0 all[$ "u subsection 7a7 = purposes ( subsection 7f74 4 7b7 ,c]ta9 errors ) respect to fir/-,"t homebuy] tax cr$it treat$ z ma!matical or cl]ical errors ,p>agraph 7#b7 ( section #fbac7;g71 z am5d$ by ,public ,law #aai-ba1 is am5d$ by /rik+ & at ! end ( subp>agraph 7,z71 by /rik+ ! p]iod at ! end ( subp>agraph 7,,aa7 & ins]t+ 1 &1 & by ins]t+ aft] subp>agraph 7,,aa7 ! foll[+ new subp>agraph3 7,,bb7 an entry on a return claim+ ! cr$it "u section #cf if-- 7i7 ! ,secret>y obta9s in=mation f ! p]son issu+ ! ,,t9 ( ! taxpay] t indicates t ! taxpay] does n meet ! age requirem5t ( section #cf7;b77#d71 7ii7 in=mation provid$ to ! ,secret>y by ! taxpay] on an income tax return = at lea/ "o ( ! #b prec$+ taxable ye>s is inconsi/5t ) eligibility = su* cr$it1 or 7iii7 ! taxpay] fails to atta* to ! return ! =m describ$ 9 section #cf7;d77#c74 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply ) respect to pr9cipal resid5ces pur*as$ aft] ! date ( ! enactm5t ( ?is ,act4 #acjjb4 ,refundable cr$it = r5t paid = pr9cipal resid5ce 7a7 ,9 g5]al ,subp>t ,c ( "p ,,iv ( sub*apt] ,a ( *apt] #a is am5d$ by ins]t+ aft] section #cf;,b ! foll[+ new section3 #cf;,c4 ,r5t] tax cr$it 7a7 ,9 g5]al ,9 ! case ( an individual :o leases ! individual's pr9cipal resid5ce 7)9 ! mean+ ( section #aba7 dur+ ! taxable ye> & :o pays r5t ) respect to su* resid5ce 9 excess ( #cj p]c5t ( ! taxpay]'s adju/$ gross income = su* 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 ! applicable p]c5tage ( su* excess4 7b7 ,cr$it limit$ by #ajj p]c5t ( small area fair m>ket r5t ,solely = purposes ( det]m9+ ! am\nt ( ! cr$it all[$ "u subsection 7a7 ) respect to a resid5ce = ! taxable ye>1 !re %all n be tak5 into acc\nt r5t 9 excess ( an am\nt equal to #ajj p]c5t ( ! small area fair m>ket r5t 7includ+ ! utility all[ance7 applicable to ! resid5ce involv$ 7z mo/ rec5tly publi%$1 z ( ! beg9n+ ( ! taxable ye>1 by ! ,dep>tm5t ( ,h\s+ & ,urban ,developm5t74 7c7 ,def9itions & special rules ,= purposes ( ?is section-- 7#a7 ,applicable p]c5tage ,! t]m applicable p]c5tage means ! p]c5tage det]m9$ 9 accordance ) ! foll[+ table3 ,! applicable,if ! taxpay]'s adju/$ gross income is3p]c5tage is3,n ov] #be1jjjajj percent,over #be1jjj1 b n ov] #ej1jjjge percent,over #ej1jjj1 b n ov] #ge1jjjej percent,over #ge1jjj1 b n ov] #ajj1jjjbe percent,over #ajj1jjjj p]c5t4 7#b7 ,p>tial ye> resid5ce ,! ,secret>y %all prescribe su* rules z are necess>y to c>ry out ! purposes ( ?is section = taxpay]s ) respect to :om a resid5ce is a pr9cipal resid5ce = only a portion ( ! taxable ye>4 7#c7 ,r5t ,! t]m r5t includes any am\nt paid = utilities ( a type tak5 into acc\nt = purposes ( det]m9+ ! utility all[ance "u section #db7;g77#b77;,b77ii74 7#d7 ,m>ri$ individuals fil+ sep>ate returns ,9 ! case ( individuals :o are m>ri$ to ea* o!r1 h ! same pr9cipal resid5ce1 & d n file a jo9t return = ! taxable ye>1 ! cr$it det]m9$ "u ?is section ) respect to ea* su* individual %all be #ej p]c5t ( ! am\nt ( ! cr$it :i* w\ld be det]m9$ "u ?is section if su* individuals fil$ a jo9t return1 unless su* individuals agree on a diff]5t division ( su* cr$it 79 su* mann] z ! ,secret>y may provide7 :i* does n aggregate to m #ajj p]c5t ( su* am\nt4 7d7 ,reconciliation ( cr$it & advance paym5ts ,! 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$it "u section #gebg;,b = su* taxable ye>4 4 7b7 ,advance paym5t ,*apt] #gg is am5d$ by ins]t+ aft] section #gebg;,a ! foll[+ new section3 #gebg;,b4 ,advance paym5t ( r5t] tax cr$it 7a7 ,9 g5]al ,n lat] ?an #f mon?s aft] ! date ( ! enactm5t ( ?is section1 ! ,secret>y %all e/abli% a program = mak+ advance paym5ts ( ! cr$it all[$ "u section #cf;,c on a mon?ly basis to any taxpay] :o-- 7#a7 ! ,secret>y has det]m9$ w be all[$ su* cr$it = ! taxable ye>1 & 7#b7 has made an election "u subsection 7c74 7b7 ,am\nt ( advance paym5t 7#a7 ,9 g5]al ,= purposes ( subsection 7a71 ! am\nt ( ! mon?ly advance paym5t ( ! cr$it provid$ to a taxpay] dur+ ! applicable p]iod %all be equal to ! less] (-- 7,a7 an am\nt equal to-- 7i7 ! am\nt ( ! cr$it :i* ! ,secret>y has det]m9$ w be all[$ to su* taxpay] "u section #cf;,c = ! taxable ye> end+ 9 su* applicable p]iod1 divid$ by 7ii7 #ab1 or 7,b7 su* o!r am\nt z is elect$ by ! taxpay]4 7#b7 ,applicable p]iod ,= purposes ( ?is section1 ! t]m applicable p]iod means ! #ab-mon? p]iod f ! mon? ( ,july ( ! taxable ye> ?r\gh ! mon? ( ,june ( ! subsequ5t taxable ye>4 7c7 ,election ( advance paym5t ,a taxpay] may elect to receive an advance paym5t ( ! cr$it all[$ "u section #cf;,c = any taxable ye> by includ+ su* election on a timely fil$ return = ! prec$+ taxable ye>4 7d7 ,int]nal ,rev5ue ,s]vice notification ,! ,int]nal ,rev5ue ,s]vice %all take su* /eps z may be appropriate to ensure t taxpay]s :o are eligible to receive ! cr$it "u section #cf;,c are aw>e ( ! availability ( ! advance paym5t ( su* cr$it "u ?is section4 7e7 ,treatm5t ( paym5ts ,= purposes ( section #acbd ( title #ca1 ,unit$ ,/ates ,code1 ! paym5ts "u ?is section %all be treat$ 9 ! same mann] z a refund due f a cr$it provision ref]r$ to 9 subsection 7b77#b7 ( su* section4 7f7 ,regulations ,! ,secret>y may prescribe su* regulations or o!r guidance z may be necess>y or appropriate to c>ry out ! purposes ?is section4 4 7c7 ,con=m+ am5dm5ts 7#a7 ,section #fbaa7;b77#d77;,a7 is am5d$ by ins]t+ #cf;,c1 aft] #cf;,b14 7#b7 ,section #acbd7;b77#b7 ( title #ca1 ,unit$ ,/ates ,code1 is am5d$ by ins]t+ #cf;,c1 aft] #cf;,b14 7#c7 ,! table ( sections = subp>t ,c ( "p ,,iv ( sub*apt] ,a ( *apt] #a is am5d$ by ins]t+ aft] ! item relat+ to section #cf;,b ! foll[+ new item3 ,sec4 #cf;,c4 ,r5t] tax cr$it4 4 7#d7 ,! table ( sections = *apt] #gg is am5d$ by ins]t+ aft] ! item relat+ to section #gebg;,a ! foll[+ new item3 ,sec4 #gebg;,b4 ,advance paym5t ( r5t] tax cr$it4 4 7d7 ,effective date ,! am5dm5ts made by ?is section %all apply ) respect to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbe4 7e7 ,community outrea* ,imm$iately ^u ! enactm5t ( ?is ,act1 9 addition to am\nts o!rwise available1 !re are appropriat$ out ( any money 9 ! ,treasury n o!rwise appropriat$ #ej1jjj1jjj to rema9 available until #e ye>s aft] ! enactm5t ( ?is ,act = necess>y exp5ses = ! ,int]nal ,rev5ue ,s]vice to support ef=ts to increase enrollm5t ( eligible h\seholds 9 ! ,r5t] ,tax ,cr$it all[$ "u section #cf;,c ( ! ,int]nal ,rev5ue ,code ( #aihf 7includ+ ! advance paym5t ( su* cr$it "u section #gebg;,b ( su* ,code71 includ+ b n limit$ to program outrea*1 co/s ( data %>+ arrangem5ts1 sy/ems *anges1 =ms *anges1 & relat$ ef=ts1 & ef=ts by ,f$]al ag5cies to facilitate ! cross-enrollm5t ( b5efici>ies ( o!r programs 9 su* ,r5t] ,tax ,cr$it1 includ+ by e/abli%+ int]gov]nm5tal coop]ative agreem5ts ) ,/ates & local gov]nm5ts1 tribal gov]nm5ts1 & possessions ( ! ,unit$ ,/ates3 ,provid$1 t su* am\nt %all be available 9 addition to any am\nts o!rwise available3 ,provid$ fur!r1 t ^! funds may be aw>d$ by ,f$]al ag5cies to ,/ate & local gov]nm5ts1 tribal gov]nm5ts1 & possessions ( ! ,unit$ ,/ates1 & private entities1 includ+ organizations d$icat$ to free tax return prep>ation4 ,,ii ,l[]+ en]gy co/s ,a ,l[]+ co/s ?r\gh an all-(-!-above en]gy policy #bajja4 ,clean en]gy production cr$it 7a7 ,re/oration ( phase-,out ,section #de,y7d77#c7 is am5d$ by /rik+ cal5d> ye> #bjcb4 & ins]t+ means ! lat] (-- 7,a7 ! cal5d> ye> 9 :i* ! ,secret>y det]m9es t ! annual gre5h\se gas emissions f ! production ( electricity 9 ! ,unit$ ,/ates are equal to or less ?an #be p]c5t ( ! annual gre5h\se gas emissions f ! production ( electricity 9 ! ,unit$ ,/ates = cal5d> ye> #bjbb1 or 7,b7 #bjcb4 4 7b7 ,re/oration ( cr$it = w9d & sol> facilities ,section #de,y7d7 is am5d$-- 7#a7 9 p>agraph 7#a71 by /rik+ ,subject to p>agraph 7#d71 ! am\nt & ins]t+ ,! am\nt1 & 7#b7 by /rik+ p>agraph 7#d74 7c7 ,re/oration ( cr$it = w9d & sol> leas+ arrangem5ts ,section #de,y is am5d$ by /rik+ subsection 7h74 7d7 ,repeal ( provision = exi/+ /udies ,section #de,y7b77#b77;,c7 is am5d$ by /rik+ clause 7iii74 7e7 ,effective dates ,! am5dm5ts made by ?is section %all take effect z if includ$ 9 section #gjeab ( ,public ,law #aai-ba4 #bajjb4 ,clean electricity inve/m5t cr$it 7a7 ,repeal ( t]m9ation = w9d & sol> facilities ,section #dh;,e7e7 is am5d$-- 7#a7 9 p>agraph 7#a71 by /rik+ ,subject to p>agraph 7#d71 ! am\nt & ins]t+ ,! am\nt1 & 7#b7 by /rik+ p>agraph 7#d74 7b7 ,re/oration ( cr$it = exp5ditures = w9d & sol> leas+ arrangem5ts 7#a7 ,9 g5]al ,section #dh;,e is am5d$ by /rik+ subsection 7i7 & by r$esignat+ subsections 7j7 & 7k7 z subsections 7i7 & 7j71 respectively4 7#b7 ,con=m+ rule repeal ,section #ej is am5d$ by /rik+ subsection 7e74 7c7 ,re/oration ( cr$it = c]ta9 en]gy prop]ty ,section #dh7;a77#b77;,a77ii7 is am5d$ by /rik+ #j p]c5t & ins]t+ #b p]c5t4 7d7 ,effective dates ,! am5dm5ts made by ?is section %all take effect z if includ$ 9 section #gjeac ( ,public ,law #aai-ba4 #bajjc4 ,advanc$ manufactur+ production cr$it 7a7 ,repeal ( inclusion ( metallurgical coal z an applicable critical m9]al ,section #de,x7c77#f7 is am5d$ by /rik+ subp>agraph 7,r7 & by r$esignat+ subp>agraphs 7,s7 ?r\gh 7,,aa7 z subp>agraphs 7,r7 ?r\gh 7,,zz71 respectively4 7b7 ,repeal ( t]m9ation = w9d en]gy compon5ts ,section #de,x7b77#c7 is am5d$ by /rik+ subp>agraph 7,d74 7c7 ,con=m+ am5dm5ts 7#a7 ,section #de,x7b77#a77,m7 is am5d$ by /rik+ 7#b4e p]c5t 9 ! case ( metallurgical coal74 7#b7 ,! head+ ( section #de,x7b77#c7 is am5d$ by /rik+ & t]m9ation4 7#c7 ,section #de,x7b77#c77;,a7 is am5d$ by /rik+ subp>agraphs 7,c7 & 7,d7 & ins]t+ subp>agraph 7,c74 7#d7 ,! head+ ( section #de,x7b77#c77;,c7 is am5d$ by /rik+ o!r ?an metallurgical coal4 7#e7 ,! head+ ( section #de,x7b77#c77;,c77ii7 is am5d$ by /rik+ o!r ?an metallurgical coal4 7#f7 ,section #de,x7b77#c7 is am5d$ by /rik+ subp>agraph 7,e74 7d7 ,effective date ,! am5dm5ts made by ?is section %all take effect z if includ$ 9 section #gjead ( ,public ,law #aai-ba4 #bajjd4 ,repeal ( re/riction on ! ext5sion ( advance en]gy project cr$it program 7a7 ,9 g5]al ,section #dh;,c7e77#c77;,c7 is am5d$ by /rik+ %all n be increas$ & ins]t+ %all be increas$4 7b7 ,effective date ,! am5dm5t made by ?is section %all take effect z if includ$ 9 section #gjeae ( ,public ,law #aai-ba4 #bajje4 ,rev]sion ( con/ruction date = clean hydrog5 production cr$it 7a7 ,9 g5]al ,section #de,v7c77#c77;,c7 is am5d$ by /rik+ ,janu>y #a1 #bjbh & ins]t+ ,janu>y #a1 #bjcc4 7b7 ,effective date ,! am5dm5t made by ?is section %all take effect z if includ$ 9 section #gjeaa ( ,public ,law #aai-ba4 #bajjf4 ,rev]sion ( t]m9ation = resid5tial clean en]gy cr$it 7a7 ,9 g5]al ,section #be;,d7h7 is am5d$ by /rik+ ) respect to any exp5ditures made aft] ,decemb] #ca1 #bjbe & ins]t+ to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjcd4 7b7 ,con=m+ am5dm5t ,section #be;,d7g7 is am5d$ by /rik+ & at ! end ( p>agraph 7#b71 by /rik+ #cj p]c5t4 at ! end ( p>agraph 7#c7 & ins]t+ & be=e ,janu>y #a1 #bjcc1 #cj p]c5t1 & by add+ at ! end ! foll[+ new p>agraphs3 7#d7 9 ! case ( prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjcb1 & be=e ,janu>y #a1 #bjcd1 #bf p]c5t1 & 7#e7 9 ! case ( prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjcc1 & be=e ,janu>y #a1 #bjce1 #bb p]c5t4 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all take effect z if includ$ 9 section #gjejf ( ,public ,law #aai-ba4 #bajjg4 ,re9/atem5t ( special rate = su/a9able aviation fuel 7a7 ,9 g5]al ,section #de,z7a77#c7 is am5d$ to read z foll[s3 7#c7 ,special rate = su/a9able aviation fuel 7,a7 ,9 g5]al ,9 ! case ( a transportation fuel :i* is su/a9able aviation fuel1 p>agraph 7#b7 %all be appli$-- 7i7 9 ! case ( fuel produc$ at a qualifi$ facility describ$ 9 p>agraph 7#b77;,a71 by sub/itut+ #ce c5ts = #bj c5ts1 & 7ii7 9 ! case ( fuel produc$ at a qualifi$ facility describ$ 9 p>agraph 7#b77;,b71 by sub/itut+ #a4ge = #a4jj4 7,b7 ,su/a9able aviation fuel ,= purposes ( subp>agraph 7,a71 ! t]m su/a9able aviation fuel means liquid fuel1 ! portion ( :i* is n k]os5e1 :i* is sold = use 9 an aircraft & :i*-- 7i7 meets ! requirem5ts (-- 7,i7 ,,a/m ,int]national ,/&>d ,d#geff1 or 7,,ii7 ! ,fis*] ,trops* provisions ( ,,a/m ,int]national ,/&>d ,d#afee1 ,annex ,a#a1 & 7ii7 is n d]iv$ f palm fatty acid di/illates or petroleum4 4 7b7 ,con=m+ am5dm5t ,section #de,z7c77#a7 is am5d$ by /rik+ & ! #a4jj am\nt 9 subsection 7a77#b77;,b7 & ins]t+ ! #a4jj am\nt 9 subsection 7a77#b77;,b71 ! #ce c5t am\nt 9 subsection 7a77#c77;,a77i71 & ! #a4ge am\nt 9 subsection 7a77#c77;,a77ii74 7c7 ,effective date ,! am5dm5ts made by ?is section %all take effect z if includ$ 9 section #gjeba ( ,public ,law #aai-ba4 ,b ,l[]+ co/s ?r\gh en]gy effici5cy #bbjja4 ,en]gy effici5t home improvem5t cr$it 7a7 ,re/or+ product id5tification numb] requirem5t ,section #be;,c7h7 is am5d$ to read z foll[s3 7h7 ,product id5tification numb] requirem5t 7#a7 ,9 g5]al ,no cr$it %all be all[$ "u subsection 7a7 ) respect to any item ( specifi$ prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjbe1 unless-- 7,a7 su* item is produc$ by a qualifi$ manufactur]1 & 7,b7 ! taxpay] includes ! qualifi$ product id5tification numb] ( su* item on ! return ( tax = ! taxable ye>4 7#b7 ,qualifi$ product id5tification numb] ,= purposes ( ?is section1 ! t]m qualifi$ product id5tification numb] means1 ) respect to any item ( specifi$ prop]ty1 ! product id5tification numb] assign$ to su* item by ! qualifi$ manufactur] pursuant to ! me?odology ref]r$ to 9 p>agraph 7#c74 7#c7 ,qualifi$ manufactur] ,= purposes ( ?is section1 ! t]m qualifi$ manufactur] means any manufactur] ( specifi$ prop]ty :i* ent]s into an agreem5t ) ! ,secret>y :i* provides t su* manufactur] w-- 7,a7 assign a product id5tification numb] to ea* item ( specifi$ prop]ty produc$ by su* manufactur] utiliz+ a me?odology t w ensure t su* numb] 7includ+ any alphanum]ic7 is unique to ea* su* item 7by utiliz+ numb]s or lett]s :i* are unique to su* manufactur] or by su* o!r me?od z ! ,secret>y may provide71 7,b7 label su* item ) su* numb] 9 su* mann] z ! ,secret>y may provide1 & 7,c7 make p]iodic writt5 reports to ! ,secret>y 7at su* times & 9 su* mann] z ! ,secret>y may provide7 ( ! product id5tification numb]s s assign$ & includ+ su* in=mation z ! ,secret>y may require ) respect to ! item ( specifi$ prop]ty to :i* su* numb] 0 s assign$4 7#d7 ,specifi$ prop]ty ,= purposes ( ?is subsection1 ! t]m specifi$ prop]ty means any qualifi$ en]gy prop]ty & any prop]ty describ$ 9 subp>agraph 7,b7 or 7,c7 ( subsection 7c77#c74 4 7b7 ,effective date ,! am5dm5t made by ?is section %all take effect z if includ$ 9 ! enactm5t ( section #gjeje ( ,public ,law #aai-ba4 #bbjjb4 ,new en]gy effici5t home cr$it 7a7 ,9 g5]al ,section #de,l7h7 is am5d$ by /rik+ acquir$ aft] ,june #cj1 #bjbf & ins]t+ acquir$ aft] ,decemb] #ca1 #bjcb4 7b7 ,effective date ,! am5dm5t made by ?is section %all take effect z if includ$ 9 section #gjejh ( ,public ,law #aai-ba4 #bbjjc4 ,repeal ( t]m9ation ( new en]gy effici5t comm]cial build+s d$uction 7a7 ,9 g5]al ,section #agi;,d is am5d$ by /rik+ subsection 7i74 7b7 ,effective date ,! am5dm5t made by ?is section %all take effect z if includ$ 9 section #gjejg ( ,public ,law #aai-ba4 #bbjjd4 ,re/oration ( co/ recov]y = en]gy prop]ty 7a7 ,9 g5]al ,section #afh7;e77#c77;,b77vi7 is am5d$-- 7#a7 by r$esignat+ subclauses 7,i7 & 7,,ii7 z subclauses 7,,ii7 & 7,,iii71 respectively1 & 7#b7 by ins]t+ be=e subclause 7,,ii7 7z s r$esignat$7 ! foll[+ subclause3 7,i7 is describ$ 9 subp>agraph 7,a7 ( section #dh7;a77#c7 7or w\ld be s describ$ if sol> or w9d en]gy 7 sub/itut$ = sol> en]gy 9 clause 7i7 !re( & ! la/ s5t5ce ( su* section did n apply to su* subp>agraph71 4 7b7 ,effective date ,! am5dm5t made by ?is section %all take effect z if includ$ 9 section #gjeji ( ,public ,law #aai-ba4 ,c ,l[]+ co/s = electric vehicles & *>g+ infra/ructure #bcjja4 ,rev]sion ( t]m9ation date = previ\sly-own$ vehicle cr$it 7a7 ,9 g5]al ,section #be;,e7g7 is am5d$ by /rik+ acquir$ aft] ,septemb] #cj1 #bjbe & ins]t+ acquir$ aft] ,decemb] #ca1 #bjcb4 7b7 ,effective date ,! am5dm5t made by ?is section %all take effect z if includ$ 9 section #gjeja ( ,public ,law #aai-ba4 #bcjjb4 ,rev]sion ( t]m9ation date = clean vehicle cr$it 7a7 ,9 g5]al ,section #cj;,d7h7 is am5d$ by /rik+ acquir$ aft] ,septemb] #cj1 #bjbe & ins]t+ plac$ 9 s]vice aft] ,decemb] #ca1 #bjcb4 7b7 ,con=m+ am5dm5ts 7#a7 ,section #cj;,d7e77#a77;,b7 is am5d$ by /rik+ & at ! end ( clause 7iii71 by /rik+ ! p]iod at ! end ( clause 7iv7 & ins]t+ 1 &1 & by add+ at ! end ! foll[+ clause3 7v7 9 ! case ( a vehicle plac$ 9 s]vice aft] ,decemb] #ca1 #bjbf1 #hj p]c5t4 4 7#b7 ,section #cj;,d7e77#b77;,b7 is am5d$ by /rik+ & at ! end ( clause 7ii71 by /rik+ ! p]iod at ! end ( clause 7iii71 & by add+ at ! end ! foll[+ clauses3 7iv7 9 ! case ( a vehicle plac$ 9 s]vice dur+ cal5d> ye> #bjbg1 #hj p]c5t1 7v7 9 ! case ( a vehicle plac$ 9 s]vice dur+ cal5d> ye> #bjbh1 #ij p]c5t1 & 7vi7 9 ! case ( a vehicle plac$ 9 s]vice aft] ,decemb] #ca1 #bjbh1 #ajj p]c5t4 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all take effect z if includ$ 9 section #gjejb ( ,public ,law #aai-ba4 #bcjjc4 ,qualifi$ comm]cial clean vehicles cr$it 7a7 ,rev]sion ( t]m9ation date ,section #de,w7g7 is am5d$ by /rik+ ,septemb] #cj1 #bjbe & ins]t+ ,decemb] #ca1 #bjcb4 7b7 ,cl>ification ( application to mobile ma*9]y 7#a7 ,9 g5]al ,section #de,w7c77#b7 is am5d$-- 7,a7 9 subp>agraph 7,a71 by /rik+ prim>ily1 & 7,b7 9 subp>agraph 7,b71 by /rik+ mobile ma*9]y1 z def9$ 9 section #djec7h7 & ins]t+ a vehicle t p]=ms a con/ruction1 manufactur+1 process+1 f>m+1 m9+1 drill+1 timb]+1 or simil> op]ation4 7#b7 ,qualifi$ manufactur] & ,,v9 requirem5ts n applicable 7,a7 ,qualifi$ manufactur] requirem5ts ,section #de,w7c7 is am5d$-- 7i7 9 p>agraph 7#a71 by /rik+ meets ! requirem5ts ( section #cj;,d7d77#a77;,c7 &1 7ii7 9 p>agraph 7#b77;,a71 by /rik+ subp>agraph 7,d7 & ins]t+ subp>agraphs 7,c7 & 7,d71 & 7iii7 9 p>agraph 7#c71 by /rik+ ei!r-- & ins]t+ meets ! requirem5ts ( section #cj;,d7d77#a77;,c7 & ei!r--4 7,b7 ,,v9 requirem5ts ,section #de,w7e7 is am5d$ by ins]t+ 7o!r ?an a vehicle describ$ 9 subsection 7c77#b77;,b77 aft] any vehicle4 7c7 ,effective date ,! am5dm5ts made by ?is section %all take effect z if includ$ 9 section #gjejc ( ,public ,law #aai-ba4 #bcjjd4 ,rev]sion ( t]m9ation date = alt]native fuel vehicle refuel+ prop]ty cr$it 7a7 ,9 g5]al ,section #cj;,c7i7 is am5d$ by /rik+ ,june #cj1 #bjbf & ins]t+ ,decemb] #ca1 #bjcb4 7b7 ,effective date ,! am5dm5t made by ?is section %all take effect z if includ$ 9 section #gjejd ( ,public ,law #aai-ba4 #bcjje4 ,cr$it = c]ta9 new electric bicycles 7a7 ,9 g5]al ,subp>t ,c ( "p ,,iv ( sub*apt] ,a ( *apt] #a1 z am5d$ by ! prec$+ provision ( ?is ,act1 is am5d$ by ins]t+ aft] section #cf;,c ! foll[+ new section3 #cf;,d4 ,electric bicycles 7a7 ,all[ance ( cr$it ,9 ! case ( an individual1 !re %all be all[$ z a cr$it aga9/ ! tax impos$ by ?is *apt] = ! taxable ye> an am\nt equal to #cj p]c5t ( ! co/ ( ea* qualifi$ electric bicycle plac$ 9 s]vice by ! taxpay] dur+ su* taxable ye>4 7b7 ,limitations 7#a7 ,limitation on co/ p] bicycle tak5 into acc\nt ,! am\nt tak5 into acc\nt "u subsection 7a7 z ! co/ ( any qualifi$ electric bicycle %all n exce$ #e1jjj4 7#b7 ,limitation on numb] ( bicycles ,9 ! case ( any taxpay] = any taxable ye>1 ! numb] ( qualifi$ electric bicycles tak5 into acc\nt "u subsection 7a7 %all n exce$ ! excess 7if any7 (-- 7,a7 #a 7#b 9 ! case ( a jo9t return71 r$uc$ by 7,b7 ! aggregate numb] ( qualifi$ electric bicycles tak5 into acc\nt by ! taxpay] "u subsection 7a7 = ! #b prec$+ taxable ye>s4 7#c7 ,phase\t bas$ on income 7,a7 ,phase\t bas$ on modifi$ adju/$ gross income ,! cr$it all[$ "u subsection 7a7 %all be r$uc$ by #ajj = ea* #a1jjj 7or fraction !re(7 by :i* ! taxpay]'s modifi$ adju/$ gross income exce$s-- 7i7 #cjj1jjj 9 ! case ( a jo9t return or a surviv+ sp\se 7z def9$ 9 section #b7;a771 7ii7 #bbe1jjj 9 ! case ( a head ( h\sehold 7z def9$ 9 section #b7;b771 & 7iii7 #aej1jjj 9 ! case ( a taxpay] n describ$ 9 clause 7i7 or 7ii74 7,b7 ,special rule = modifi$ adju/$ gross income tak5 into acc\nt ,! modifi$ adju/$ gross income ( ! taxpay] t is tak5 into acc\nt = purposes ( subp>agraph 7,a7 %all be ! less] (-- 7i7 ! modifi$ adju/$ gross income = ! taxable ye> ) respect to :i* ! cr$it is claim$1 or 7ii7 ! modifi$ adju/$ gross income = ! imm$iately prec$+ taxable ye>4 7,c7 ,modifi$ adju/$ gross income ,= purposes ( subp>agraph 7,a71 ! 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 7c7 ,qualifi$ electric bicycle ,= purposes ( ?is section-- 7#a7 ,9 g5]al ,! t]m qualifi$ electric bicycle means a bicycle or tricycle-- 7,a7 ! orig9al use ( :i* comm5ces ) ! taxpay]1 7,b7 :i* is acquir$ = use by ! taxpay] & n = resale1 7,c7 :i* is n prop]ty ( a "* subject to an all[ance = depreciation or amortization 9 ! h&s ( ! taxpay]1 7,d7 :i* is made by a qualifi$ manufactur] & is label$ ) ! qualifi$ vehicle id5tification numb] assign$ to su* bicycle or tricycle by su* manufactur]1 7,e7 ) respect to :i* ! aggregate am\nt paid = su* acquisition does n exce$ #h1jjj1 7,f7 :i* is a class #a electric bicycle or tricycle1 a class #b electric bicycle or tricycle1 or a class #c electric bicycle or tricycle1 7,g7 :i* is equipp$ )-- 7i7 fully op]able p$als1 7ii7 a saddle or seat = ! rid]1 & 7iii7 an electric motor ( less ?an #gej watts :i* is design$ to provide assi/ance 9 propell+ ! bicycle or tricycle &-- 7,i7 does n provide su* assi/ance if ! bicycle or tricycle is mov+ 9 excess ( #bj miles p] h\r1 or 7,,ii7 if su* motor only provides su* assi/ance :5 ! rid] is p$al+1 does n provide su* assi/ance if ! bicycle or tricycle is mov+ 9 excess ( #bh miles p] h\r1 7,h7 :i* is n equipp$ ) any motor o!r ?an ! motor describ$ 9 subp>agraph 7,g77iii71 7,i7 :i* is n capable ( exce$+ ! spe$ limitation 9 p>agraph 7#b7 by means ( any electronic swit*1 sett+ or s(tw>e modification provid$ or made available by ! manufactur]1 & 7,j7 :i* has a drive sy/em t has be5 c]tifi$ by an accr$it$ laboratory to ,und]writ]s ,laboratory 7,,ul7 /&>d ,,ul #bhdi1 or a batt]y t has be5 c]tifi$ to any ( ! batt]y safety /&>ds li/$ 9 su* /&>d ,,ul #bhdi or su* o!r drive sy/em or batt]y safety /&>d z may be recogniz$ by ! ,unit$ ,/ates ,consum] ,product ,safety ,commission4 7#b7 ,class #a electric bicycle or tricycle ,! t]m class #a electric bicycle or tricycle means a two- or ?ree-:eel$ vehicle equipp$ ) an electric motor t provides assi/ance only :5 ! rid] is p$al+1 t is n capable ( provid+ assi/ance :5 ! spe$ ( ! vehicle exce$s #bj miles p] h\r1 & t is n a class #c electric bicycle or tricycle4 7#c7 ,class #b electric bicycle or tricycle ,! t]m class #b electric bicycle or tricycle means a two- or ?ree-:eel$ vehicle equipp$ ) an electric motor t may be us$ to propel ! vehicle )\t ! ne$ ( any additional assi/ance1 & t is n capable ( provid+ assi/ance :5 ! spe$ ( ! vehicle exce$s #bj miles p] h\r4 7#d7 ,class #c electric bicycle or tricycle ,! t]m class #c electric bicycle or tricycle means a two- or ?ree-:eel$ vehicle equipp$ ) an electric motor t provides assi/ance only :5 ! rid] is p$al+1 & t is n capable ( provid+ assi/ance :5 ! spe$ ( ! vehicle exce$s #bh miles p] h\r4 7d7 ,special rule = bicycles us$ by an individual 9 a trade or bus9ess ,9 ! case ( any bicycle or tricycle ) respect to :i* ! taxpay] elects 7at su* "t & 9 su* mann] z ! ,secret>y may provide7 ! application ( ?is subsection-- 7#a7 subsections 7c77#a77;,c7 & 7f77#b7 %all n apply ) respect to su* bicycle or tricycle1 & 7#b7 no d$uction 7includ+ any d$uction = depreciation or amortization7 or cr$it 7o!r ?an ! cr$it all[$ "u ?is section7 %all be all[$ = ! co/ ( su* bicycle or tricycle4 7e7 ,,v9 numb] requirem5t 7#a7 ,9 g5]al ,no cr$it %all be all[$ "u subsection 7a7 ) respect to any qualifi$ electric bicycle unless ! taxpay] includes ! qualifi$ vehicle id5tification numb] ( su* bicycle on ! return ( tax = ! taxable ye>4 7#b7 ,qualifi$ vehicle id5tification numb] ,= purposes ( ?is section1 ! t]m qualifi$ vehicle id5tification numb] means1 ) respect to any qualifi$ electric bicycle1 ! vehicle id5tification numb] assign$ to su* bicycle by a qualifi$ manufactur] pursuant to ! me?odology ref]r$ to 9 p>agraph 7#c77;,a74 7#c7 ,qualifi$ manufactur] ,= purposes ( ?is section1 ! t]m qualifi$ manufactur] means any manufactur] ( qualifi$ electric bicycles :i* ent]s into an agreem5t ) ! ,secret>y :i* provides t su* manufactur] w-- 7,a7 assign a vehicle id5tification numb] to ea* qualifi$ electric bicycle produc$ by su* manufactur] utiliz+ a me?odology t w ensure t su* numb] 7includ+ any alphanum]ic7 is unique to su* bicycle 7by utiliz+ numb]s or lett]s :i* are unique to su* manufactur] or by su* o!r me?od z ! ,secret>y may provide71 7,b7 label su* bicycle ) su* numb] 9 su* mann] z ! ,secret>y may provide1 & 7,c7 make p]iodic writt5 reports to ! ,secret>y 7at su* times & 9 su* mann] z ! ,secret>y may provide7 ( ! vehicle id5tification numb]s s assign$ & includ+ su* in=mation z ! ,secret>y may require ) respect to ! qualifi$ electric bicycle to :i* su* numb] 0 s assign$4 7f7 ,special rules 7#a7 ,basis r$uction ,= purposes ( ?is subtitle1 ! basis ( any prop]ty = :i* a cr$it is all[able "u subsection 7a7 %all be r$uc$ by ! am\nt ( su* cr$it s all[$4 7#b7 ,no d\ble b5efit ,! am\nt ( any d$uction or o!r cr$it all[able "u ?is *apt] = a qualifi$ electric bicycle = :i* a cr$it is all[able "u subsection 7a7 %all be r$uc$ by ! am\nt ( cr$it all[$ "u su* subsection = su* bicycle4 7#c7 ,prop]ty us$ outside unit$ /ates n qualifi$ ,no cr$it %all be all[able "u subsection 7a7 ) respect to any prop]ty ref]r$ to 9 section #ej7;b77#a74 7#d7 ,recapture ,! ,secret>y %all1 by regulations or o!r guidance1 provide = recaptur+ ! b5efit ( any cr$it all[able "u subsection 7a7 ) respect to any prop]ty :i* ceases to be prop]ty eligible = su* cr$it4 7#e7 ,election n to take cr$it ,no cr$it %all be all[$ "u subsection 7a7 = any qualifi$ electric bicycle if ! taxpay] elects to n h ?is section apply to su* bicycle4 7g7 ,treatm5t ( c]ta9 possessions 7#a7 ,paym5ts to possessions ) mirror code tax sy/ems ,! ,secret>y %all pay to ea* possession ( ! ,unit$ ,/ates :i* has a mirror code tax sy/em am\nts equal to ! loss 7if any7 to t possession by reason ( ! application ( ! provisions ( ?is section 7det]m9$ )\t reg>d to ?is subsection74 ,su* am\nts %all be det]m9$ by ! ,secret>y bas$ on in=mation provid$ by ! gov]nm5t ( ! respective possession4 7#b7 ,paym5ts to o!r possessions ,! ,secret>y %all pay to ea* possession ( ! ,unit$ ,/ates :i* does n h a mirror code tax sy/em am\nts e/imat$ by ! ,secret>y z be+ equal to ! aggregate b5efits 7if any7 t w\ld h be5 provid$ to resid5ts ( su* possession by reason ( ! provisions ( ?is section if a mirror code tax sy/em _h be5 9 effect 9 su* possession4 ,! prec$+ s5t5ce %all n apply unless ! respective possession has a plan :i* has be5 approv$ by ! ,secret>y "u :i* su* possession w promptly di/ribute su* paym5ts to its resid5ts4 7#c7 ,mirror code tax sy/em2 treatm5t ( paym5ts ,rules simil> to ! rules ( p>agraphs 7#c71 7#d71 & 7#e7 ( section #ba7;h7 %all apply = purposes ( ?is section4 7h7 ,transf] ( cr$it 7#a7 ,9 g5]al ,subject to su* regulations or o!r guidance z ! ,secret>y det]m9es necess>y or appropriate1 if ! taxpay] :o acquires a qualifi$ electric bicycle is an individual & elects ! application ( ?is subsection ) respect to su* qualifi$ electric bicycle1 ! cr$it :i* w\ld 7b = ?is subsection7 be all[$ to su* taxpay] ) respect to su* qualifi$ electric bicycle %all be all[$ to ! eligible entity specifi$ 9 su* election 7& n to su* taxpay]74 7#b7 ,eligible entity ,= purposes ( ?is p>agraph1 ! t]m eligible entity means1 ) respect to ! qualifi$ electric bicycle = :i* ! cr$it is all[$ "u subsection 7a71 ! retail] :i* sold su* qualifi$ electric bicycle to ! taxpay] & has-- 7,a7 subject to p>agraph 7#d71 regi/]$ ) ! ,secret>y = purposes ( ?is p>agraph1 at su* "t1 & 9 su* =m & mann]1 z ! ,secret>y may prescribe1 7,b7 prior to ! election describ$ 9 p>agraph 7#a7 & no lat] ?an at ! "t ( su* sale1 disclos$ to ! taxpay] pur*as+ su* qualifi$ electric bicycle-- 7i7 ! retail price1 7ii7 ! value ( ! cr$it all[$ or o!r inc5tive available = ! pur*ase ( su* qualifi$ electric bicycle1 7iii7 all fees associat$ ) ! pur*ase ( su* qualifi$ electric bicycle1 & 7iv7 ! am\nt provid$ by ! retail] to su* taxpay] z a condition ( ! election describ$ 9 p>agraph 7#a71 7,c7 made paym5t to su* taxpay] 7:e!r 9 ca% or 9 ! =m ( a p>tial paym5t or d[n paym5t = ! pur*ase ( su* qualifi$ electric bicycle7 9 an am\nt equal to ! cr$it o!rwise all[able to su* taxpay]1 & 7,d7 ) respect to any inc5tive o!rwise available = ! pur*ase ( a qualifi$ electric bicycle = :i* a cr$it is all[$ "u ?is section1 includ+ any inc5tive 9 ! =m ( a rebate or disc\nt provid$ by ! retail] or manufactur]1 ensur$ t-- 7i7 ! availability or use ( su* inc5tive %all n limit ! ability ( a taxpay] to make an election describ$ 9 p>agraph 7#a71 & 7ii7 su* election %all n limit ! value or use ( su* inc5tive4 7#c7 ,tim+ ,an election describ$ 9 p>agraph 7#a7 %all be made by ! taxpay] n lat] ?an ! date on :i* ! qualifi$ electric bicycle = :i* ! cr$it is all[$ "u subsection 7a7 is pur*as$4 7#d7 ,revocation ( regi/ration ,^u det]m9ation by ! ,secret>y t a retail] has fail$ to comply ) ! requirem5ts describ$ 9 p>agraph 7#b71 ! ,secret>y may revoke ! regi/ration 7z describ$ 9 subp>agraph 7,a7 ( su* p>agraph7 ( su* retail]4 7#e7 ,tax treatm5t ( paym5ts ,) respect to any paym5t describ$ 9 p>agraph 7#b77;,c71 su* paym5t-- 7,a7 %all n be includible 9 ! gross income ( ! taxpay]1 & 7,b7 ) respect to ! retail]1 %all n be d$uctible "u ?is title4 7#f7 ,application ( c]ta9 o!r requirem5ts ,9 ! case ( any election "u p>agraph 7#a7 ) respect to any qualifi$ electric bicycle-- 7,a7 ! am\nt ( ! r$uction "u subsection 7b7 %all be det]m9$ ) respect to ! modifi$ adju/$ gross income ( ! taxpay] = ! taxable ye> prec$+ ! taxable ye> 9 :i* su* qualifi$ electric bicycle 0 acquir$ 7& n ) respect to su* income = ! taxable ye> 9 :i* su* qualifi$ electric bicycle 0 acquir$71 7,b7 ! requirem5ts ( p>agraphs 7#a7 & 7#b7 ( subsection 7f7 %all apply to ! taxpay] :o acquir$ ! qualifi$ electric bicycle 9 ! same mann] z if ! cr$it det]m9$ "u ?is section ) respect to su* qualifi$ electric bicycle 7 all[$ to su* taxpay]1 & 7,c7 subsection 7f77#e7 %all n apply4 7#g7 ,advance paym5t to regi/]$ retail]s 7,a7 ,9 g5]al ,! ,secret>y %all e/abli% a program to make advance paym5ts to any eligible entity 9 an am\nt equal to ! cumulative am\nt ( ! cr$its all[$ "u subsection 7a7 ) respect to any qualifi$ electric bicycles sold by su* entity = :i* an election describ$ 9 p>agraph 7#a7 has be5 made4 7,b7 ,excessive paym5ts ,rules simil> to ! rules ( section #fdag7;c77#f7 %all apply = purposes ( ?is p>agraph4 7#h7 ,retail] ,= purposes ( ?is subsection1 ! t]m retail] means a p]son engag$ 9 ! trade or bus9ess ( sell+ qualifi$ electric bicycles 9 a ,/ate1 ! ,di/rict ( ,columbia1 ! ,commonweal? ( ,pu]to ,rico1 or any o!r t]ritory or possession ( ! ,unit$ ,/ates4 4 7b7 ,con=m+ am5dm5ts 7#a7 ,section #ajaf7;a71 z am5d$ by ! prec$+ provisions ( ?is ,act1 is am5d$ by /rik+ & at ! end ( p>agraph 7#ch71 by /rik+ ! p]iod at ! end ( p>agraph 7#ci7 & ins]t+ 1 &1 & by add+ at ! end ! foll[+ new p>agraph3 7#dj7 to ! ext5t provid$ 9 section #cf;,d7f77#a74 4 7#b7 ,section #fbaa7;b77#d77;,a71 z am5d$ by ! prec$+ provisions ( ?is ,act1 is am5d$ by ins]t+ #cf;,d1 aft] #cf;,c14 7#c7 ,section #fbac7;g77#b7 is am5d$-- 7,a7 9 subp>agraph 7,z71 by /rik+ & at ! end1 7,b7 9 subp>agraph 7,,aa71 by /rik+ ! p]iod at ! end & ins]t+ 1 &1 & 7,c7 by add+ at ! end ! foll[+3 7,,bb7 an omission ( a correct vehicle id5tification numb] requir$ "u section #cf;,d7e7 7relat+ to electric bicycles cr$it7 to be includ$ on a return4 4 7#d7 ,section #feja7m7 is am5d$ by ins]t+ #cf;,d7f77#e71 aft] #ce7;g77#aa714 7#e7 ,section #acbd7;b77#b7 ( title #ca1 ,unit$ ,/ates ,code1 z am5d$ by ! prec$+ provisions ( ?is ,act1 is am5d$ by ins]t+ #cf;,d1 aft] #cf;,c14 7c7 ,cl]ical am5dm5t ,! table ( sections = subp>t ,c ( "p ,,iv ( sub*apt] ,a ( *apt] #a1 z am5d$ by ! prec$+ provisions ( ?is ,act1 is am5d$ by add+ at ! end ! foll[+ new item3 ,sec4 #cf;,d4 ,electric bicycles4 4 7d7 ,effective date ,! am5dm5ts made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ! date ( ! enactm5t ( ?is ,act1 9 taxable ye>s end+ aft] su* date4 7e7 ,treasury report ,n lat] ?an #c ye>s aft] ! date ( ! enactm5t ( ?is ,act1 ! ,secret>y ( ! ,treasury 7or ! ,secret>y's delegate7 %all make publicly available a writt5 report specify+ ! numb] ( taxpay]s claim+ ! cr$it all[$ "u section #cf;,d ( ! ,int]nal ,rev5ue ,code ( #aihf 7z add$ by ?is section7 & ! aggregate doll> am\nt ( su* cr$its s all[$4 ,su* in=mation %all be /at$ sep>ately = taxable ye>s beg9n+ 9 #bjbf & #bjbg1 & %all be /at$ sep>ately ) respect to ea* su* ye>s ) respect to taxpay]s 9 ea* ( ! income brackets to :i* section #a ( su* ,code applies4 ,d ,l[]+ co/s ( clean infra/ructure & resili5cy #bdjja4 ,qualify+ wat] reuse project cr$it 7a7 ,9 g5]al ,subp>t ,e ( "p ,,iv ( sub*apt] ,a ( *apt] #a1 z am5d$ by ! prec$+ provisions ( ?is ,act1 is am5d$ by ins]t+ aft] section #dh;,h ! foll[+ new section3 #dh;,i4 ,qualify+ wat] reuse project cr$it 7a7 ,9 g5]al ,= purposes ( section #df1 ! qualify+ wat] reuse project cr$it = any taxable ye> is an am\nt equal to #cj p]c5t ( ! qualifi$ inve/m5t = su* taxable ye> ) respect to any qualify+ wat] reuse project ( ! taxpay]4 7b7 ,qualifi$ inve/m5t 7#a7 ,9 g5]al ,= purposes ( subsection 7a71 ! qualifi$ inve/m5t ) respect to any qualify+ wat] reuse project = any taxable ye> is ! basis ( qualifi$ prop]ty plac$ 9 s]vice by ! taxpay] dur+ su* taxable ye> :i* is "p ( su* qualify+ wat] reuse project4 7#b7 ,qualifi$ prop]ty ,= purposes ( ?is subsection1 ! t]m qualifi$ prop]ty means prop]ty-- 7,a7 :i* is tangible prop]ty1 7,b7 ) respect to :i* depreciation 7or amortization 9 lieu ( depreciation7 is all[able1 & 7,c7 :i* is-- 7i7 con/ruct$1 recon/ruct$1 or erect$ by ! taxpay]1 or 7ii7 acquir$ by ! taxpay] if ! orig9al use ( su* prop]ty comm5ces ) ! taxpay]4 7#c7 ,c]ta9 qualifi$ progress exp5ditures rules made applicable ,rules simil> to ! rules ( subsections 7c77#d7 & 7d7 ( section #df 7z 9 effect on ! day be=e ! enactm5t ( ! ,rev5ue ,reconciliation ,act ( #aiij7 %all apply = purposes ( ?is section4 7c7 ,qualify+ wat] reuse project ,= purposes ( ?is section-- 7#a7 ,9 g5]al ,! t]m qualify+ wat] reuse project means a project :i*-- 7,a7 in/alls1 replaces1 or modifies an onsite wat] recycl+ sy/em )9 an indu/rial1 manufactur+1 data c5t]1 or food process+ facility1 7,b7 replaces ! use ( fre%wat]1 su* z gr\ndwat]1 ) recycl$ wat] f a municipal wat] provid] = ! production ( goods or provision ( s]vices1 or 7,c7 builds or exp&s a municipal wat] recycl+ sy/em = ! purpose ( secur+ recycl$ wat] = ! production ( goods or provision ( s]vices4 7#b7 ,prevail+ wage & appr5tice%ip requirem5ts ,su* t]m %all n include any project unless su* project meets ! requirem5ts ( p>agraph 7#g7 & 7#h7 ( section #de7;b74 7d7 ,special rule = c]ta9 prop]ty transf]r$ to utilities 7#a7 ,9 g5]al ,9 ! case ( any qualifi$ transf] prop]ty transf]r$ f a p]son to a utility-- 7,a7 su* prop]ty %all be treat$ z qualifi$ prop]ty ) respect to su* p]son1 7,b7 su* p]son %all be treat$ z hav+ plac$ su* prop]ty 9 s]vice at ! "t ( su* transf]1 7,c7 ! basis ( su* p]son 9 su* prop]ty :i* is tak5 into acc\nt "u subsection 7b77#a7 %all be ! basis ( su* p]son 9 su* prop]ty at ! "t ( su* transf]1 & 7,d7 su* prop]ty %all n be tak5 into acc\nt = purposes ( det]m9+ any cr$it all[$ "u ?is section to su* utility4 7#b7 ,qualifi$ transf] prop]ty ,= purposes ( ?is subsection1 ! t]m qualifi$ transf] prop]ty means prop]ty transf]r$ f a p]son to a utility if-- 7,a7 su* prop]ty is qualifi$ prop]ty ) respect to su* utility1 & 7,b7 su* p]son & su* utility ent] into a b9d+ writt5 agreem5t "u :i* su* p]son is treat$ z eligible = ! cr$it all[$ "u ?is section ) respect to su* prop]ty 9 lieu ( su* utility4 7e7 ,t]m9ation ,?is section %all n apply to any prop]ty ! con/ruction ( :i* beg9s aft] ,decemb] #ca1 #bjcb4 4 7b7 ,"p ( inve/m5t cr$it ,section #df1 z am5d$ by ! prec$+ provisions ( ?is ,act1 is am5d$ by /rik+ & at ! end ( p>agraph 7#i71 by /rik+ ! p]iod at ! end ( p>agraph 7#aj7 & ins]t+ 1 &1 & by add+ at ! end ! foll[+ new p>agraph3 7#aa7 ! qualify+ wat] reuse project cr$it4 4 7c7 ,cl]ical am5dm5t ,! table ( sections = subp>t ,d ( "p ,,iv ( sub*apt] ,a ( *apt] #a1 z am5d$ by ! prec$+ provisions ( ?is ,act1 is am5d$ by ins]t+ aft] ! item relat+ to section #dh;,h ! foll[+ new item3 ,sec4 #dh;,i4 ,qualify+ wat] reuse project cr$it4 4 7d7 ,effective date ,! am5dm5ts made by ?is section %all apply to p]iods aft] ! date ( ! enactm5t ( ?is section "u rules simil> to ! rules ( section #dh7m7 ( ! ,int]nal ,rev5ue ,code ( #aihf 7z 9 effect on ! date ( ! enactm5t ( ! ,rev5ue ,reconciliation ,act ( #aiij74 #bdjjb4 ,recycl+ prop]ty inve/m5t cr$it 7a7 ,9 g5]al ,subp>t ,e ( "p ,,iv ( sub*apt] ,a ( *apt] #a1 z am5d$ by ! prec$+ provisions ( ?is ,act1 is am5d$ by ins]t+ aft] section #dh;,i ! foll[+ new section3 #dh;,j4 ,recycl+ prop]ty inve/m5t cr$it 7a7 ,9 g5]al ,= purposes ( section #df1 ! recycl+ prop]ty inve/m5t cr$it = any taxable ye> is an am\nt equal to #cj p]c5t ( ! qualifi$ inve/m5t = su* taxable ye>4 7b7 ,qualifi$ inve/m5t 7#a7 ,9 g5]al ,= purposes ( subsection 7a71 ! qualifi$ inve/m5t = any taxable ye> is ! basis ( any eligible prop]ty plac$ 9 s]vice by ! taxpay] dur+ su* taxable ye>4 7#b7 ,eligible prop]ty ,= purposes ( ?is section-- 7,a7 ,9 g5]al ,! t]m eligible prop]ty means prop]ty-- 7i7 :i* is qualifi$ recycl+ prop]ty1 7ii7 ) respect to :i* depreciation 7or amortization 9 lieu ( depreciation7 is all[able1 & 7iii7 7,i7 ! con/ruction1 recon/ruction1 addition1 or erection ( :i* is complet$ by ! taxpay]1 or 7,,ii7 :i* is acquir$ by ! taxpay] if ! orig9al use ( su* prop]ty comm5ces ) ! taxpay]1 & 7,b7 ,prevail+ wage & appr5tice%ip requirem5ts ,su* t]m %all n include any prop]ty unless su* prop]ty meets ! requirem5ts ( p>agraph 7#g7 & 7#h7 ( section #de7;b74 7c7 ,special rules ,= purposes ( ?is section-- 7#a7 ,c]ta9 progress exp5diture rules made applicable ,rules simil> to ! rules ( subsections 7c77#d7 & 7d7 ( section #df 7z 9 effect on ! day be=e ! date ( ! enactm5t ( ! ,rev5ue ,reconciliation ,act ( #aiij7 %all apply4 7#b7 ,special rule = c]ta9 subsidiz$ prop]ty ,rules simil> to section #de7;b77#c7 %all apply4 7#c7 ,dome/ic cont5t bonus cr$it am\nt 7,a7 ,9 g5]al ,9 ! case ( any qualifi$ inve/m5t :i* satisfies ! requirem5t "u subp>agraph 7,b71 ! am\nt ( ! cr$it det]m9$ "u subsection 7a7 7det]m9$ )\t reg>d to ?is p>agraph be=e ! application ( subsection 7d7 & aft] ! application ( any o!r provision ( ?is section7 %all be increas$ by an am\nt equal to #aj p]c5tage po9ts ( ! am\nt s det]m9$4 7,b7 ,requirem5t ,rules simil> to ! rules ( section #de7;b77#i77;,b7 %all apply4 7#d7 ,phase\t = elective paym5t ,9 ! case ( a taxpay] mak+ an election "u section #fdag ) respect to a cr$it "u ?is section1 rules simil> to ! rules ( section #de7;b77#aj7 %all apply4 7d7 ,cr$it phase-,out 7#a7 ,9 g5]al ,! am\nt ( ! cr$it det]m9$ "u subsection 7a7 ) respect to any qualifi$ inve/m5t %all be equal to ! product (-- 7,a7 ! am\nt ( ! cr$it det]m9$ "u subsection 7a7 )\t reg>d to ?is subsection1 multipli$ by 7,b7 ! phase-out p]c5tage "u p>agraph 7#b74 7#b7 ,phase-out p]c5tage ,! phase-out p]c5tage "u ?is p>agraph is equal to-- 7,a7 9 ! case ( any eligible prop]ty ) a det]m9ation date beg9n+ on or aft] ,janu>y #a1 #bjbf1 & be=e ,decemb] #ca1 #bjcb1 #ajj p]c5t1 7,b7 9 ! case ( any eligible prop]ty ) a det]m9ation date beg9n+ on or aft] ,janu>y #a1 #bjcc1 & be=e ,decemb] #ca1 #bjcc1 #hj p]c5t1 7,c7 9 ! case ( any eligible prop]ty ) a det]m9ation date beg9n+ on or aft] ,janu>y #a1 #bjcd1 & be=e ,decemb] #ca1 #bjcd1 #fj p]c5t1 7,d7 9 ! case ( any eligible prop]ty ) a det]m9ation date beg9n+ on or aft] ,janu>y #a1 #bjce1 & be=e ,decemb] #ca1 #bjce1 #dj p]c5t1 7,e7 9 ! case ( any eligible prop]ty ) a det]m9ation date beg9n+ on or aft] ,janu>y #a1 #bjcf1 & be=e ,decemb] #ca1 #bjcf1 #bj p]c5t1 & 7,f7 9 ! case ( any eligible prop]ty ) a det]m9ation date beg9n+ on or aft] ,janu>y #a1 #bjcg1 #j p]c5t4 7#c7 ,det]m9ation date ,= purposes ( p>agraph 7#b71 ! det]m9ation date ( an eligible prop]ty is-- 7,a7 9 ! case su* prop]ty is describ$ 9 subsection 7b77#b77;,c77i71 ! date on :i* ! con/ruction1 recon/ruction1 addition1 or erection ( su* prop]ty beg9s1 & 7,b7 9 any o!r case1 ! date on :i* su* prop]ty is plac$ 9 s]vice4 7e7 ,d5ial ( d\ble b5efit ,9 ! case ( any eligible prop]ty ) respect to :i* cr$it is all[$ "u subsection 7a7-- 7#a7 no o!r cr$it or d$uction %all be all[$ =1 or by reason (1 su* prop]ty to ! ext5t ( ! am\nt ( su* cr$it1 & 7#b7 ! basis ( su* prop]ty %all be r$uc$ by ! am\nt ( su* cr$it4 7f7 ,regulations & guidance ,! ,secret>y %all issue su* regulations or o!r guidance z ! ,secret>y det]m9es necess>y to c>ry out ! purposes ( ?is section1 includ+ regulations or o!r guidance :i* provides = requirem5ts = recordkeep+ or in=mation report+ = purposes ( adm9i/]+ ! requirem5ts ( ?is section4 7g7 ,def9itions ,= purposes ( ?is section-- 7#a7 ,qualifi$ recycl+ prop]ty ,! t]m qualifi$ recycl+ prop]ty has ! mean+ giv5 ! t]m reuse & recycl+ prop]ty 9 section #afh7m77#c77;,a74 7#b7 ,qualifi$ reuse & recyclable mat]ials ,! t]m qualifi$ reuse & recyclable mat]ials has ! mean+ giv5 su* t]m 9 section #afh7m77#c77;,b71 except t = purposes ( ?is section su* t]m includes any video display device & any comput] device 7includ+ comput] p]iph]als1 su* z keybo>ds1 mice1 speak]s1 cables1 pr9t]s1 & scann]s74 7#c7 ,recycle ,! t]m recycle has ! mean+ giv5 su* t]m 9 section #afh7m77#c77;,c71 except t = purposes ( ?is section su* t]m does n include-- 7,a7 any me?od ( sort+1 process+1 & aggregat+ mat]ials f solid wa/e t-- 7i7 does n pres]ve ! orig9al quality ( su* mat]ials1 & 7ii7 results 9 ! aggregat$ mat]ial n be+ usable-- 7,i7 = ! initial purpose 7or a sub/antially simil> purpose7 ( su* mat]ials1 or 7,,ii7 z fe$/ock 9 lieu ( virg9 fe$/ock 9 ! production ( specification grade commodities1 or 7,b7 ! prim>y use ( wa/e or qualifi$ reuse & recyclable mat]ials-- 7i7 z a fuel or fuel sub/itute2 7ii7 = ! production or g5]ation ( en]gy 7includ+ heat & electricity72 7iii7 = inc9]ation2 7iv7 = alt]nate op]at+ cov]2 or 7v7 )9 ! footpr9t ( a l&fill4 4 7b7 ,cr$it made "p ( inve/m5t cr$it ,section #df1 z am5d$ by ! prec$+ provisions ( ?is ,act1 is am5d$ by /rik+ & at ! end ( p>agraph 7#aj71 by /rik+ ! p]iod at ! end ( p>agraph 7#aa7 & ins]t+ 1 &1 & by add+ at ! end ! foll[+ new p>agraph3 7#ab7 ! recycl+ prop]ty inve/m5t cr$it4 4 7c7 ,cl]ical am5dm5t ,! table ( sections = subp>t ,e ( "p ,,iv ( sub*apt] ,a ( *apt] #a1 z am5d$ by ! prec$+ provisions ( ?is ,act1 is am5d$ by ins]t+ aft] ! item relat+ to section #dh;,i ! foll[+ new item3 #dh;,j4 ,recycl+ prop]ty inve/m5t cr$it4 4 7d7 ,effective date ,! am5dm5ts made by ?is section %all apply to-- 7#a7 9 ! case ( prop]ty describ$ 9 section #dh;,j7b77#b77;,c77i7 ( ! ,int]nal ,rev5ue ,code ( #aihf 7z add$ by subsection 7a771 prop]ty :i* is con/ruct$1 recon/ruct$1 add$1 or erect$ aft] ,decemb] #ca1 #bjbe1 & 7#b7 9 any o!r case1 prop]ty :i* is plac$ 9 s]vice aft] ,decemb] #ca1 #bjbe4 #bdjjc4 ,exclusion ( am\nts receiv$ f ,/ate-bas$ cata/rophe loss mitigation programs 7a7 ,9 g5]al ,section #aci is am5d$ by r$esignat+ subsection 7h7 z subsection 7i7 & by ins]t+ aft] subsection 7g7 ! foll[+ new subsection3 7h7 ,/ate-,bas$ cata/rophe loss mitigation programs 7#a7 ,9 g5]al ,gross income %all n include any am\nt receiv$ by an individual z a qualifi$ cata/rophe loss mitigation paym5t "u a program e/abli%$ or adm9i/]$ by a ,/ate1 or a political subdivision or in/rum5tality !re(1 = ! purpose ( mak+ su* paym5ts4 7#b7 ,qualifi$ cata/rophe loss mitigation paym5t ,= purposes ( ?is section1 ! t]m qualifi$ cata/rophe loss mitigation paym5t means any am\nt :i* is receiv$ by an individual to make improvem5ts to su* individual's resid5ce = ! sole purpose ( haz>d mitigation ) respect to su* resid5ce4 7#c7 ,no increase 9 basis ,rules simil> to ! rules ( subsection 7g77#c7 %all apply 9 ! case ( ?is subsection4 4 7b7 ,con=m+ am5dm5ts 7#a7 ,section #aci7;d7 is am5d$ by /rik+ & qualifi$ & ins]t+ 1 qualifi$ cata/rophe mitigation paym5ts1 & qualifi$4 7#b7 ,section #aci7;i7 7z r$esignat$ by subsection 7a77 is am5d$ by /rik+ or qualifi$ & ins]t+ 1 qualifi$ cata/rophe mitigation paym5t1 or qualifi$4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbe4 #bdjjd4 ,exclusion f gross income ( c]ta9 em]g5cy agricultural assi/ance 7a7 ,9 g5]al ,section #aci1 z am5d$ by ! prec$+ provisions ( ?is ,act1 is am5d$ by r$esignat+ subsection 7i7 z subsection 7j7 & by ins]t+ aft] subsection 7h7 ! foll[+ new subsection3 7i7 ,c]ta9 agricultural assi/ance ,= purposes ( ?is section1 ! t]m qualifi$ disa/] relief paym5t %all include any assi/ance receiv$ "u any ( ! foll[+3 7#a7 ,assi/ance receiv$ "u ! ,wildfires & ,hurricanes ,indemnity ,program ,plus "u subp>t ,o ( "p #gfj ( title #g1 ,code ( ,f$]al ,regulations4 7#b7 ,assi/ance receiv$ "u section #aeja ( ! ,agricultural ,act ( #bjad 7#g ,u4,s4,c4 #ijha74 7#c7 ,non9sur$ crop assi/ance "u section #aif ( ! ,f$]al ,agriculture ,improvem5t & ,re=m ,act ( #aiif 7#g ,u4,s4,c4 #gccc74 7#d7 ,assi/ance "u a food assi/ance program "u "p #i ( title #g1 ,code ( ,f$]al ,regulations4 7#e7 ,assi/ance "u title ,,iv ( ! ,agricultural ,cr$it ,act ( #aigh 7#af ,u4,s4,c4 #bbja et seq474 7#f7 ,assi/ance "u ! ,quality ,loss ,assi/ance ,program4 4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbe4 #bdjje4 ,cr$it = disa/] mitigation exp5ditures 7a7 ,9 g5]al ,subp>t ,b ( "p ,,iv ( sub*apt] ,a ( *apt] #a is am5d$ by ins]t+ aft] section #bg ! foll[+ new section3 #bh4 ,disa/] mitigation exp5ditures 7a7 ,9 g5]al ,!re %all be all[$ z a cr$it aga9/ ! tax impos$ by ?is *apt] = ! taxable ye> an am\nt equal to #cj p]c5t ( ! exp5ditures paid = qualify+ mitigation activities paid or incurr$ by ! taxpay] dur+ su* taxable ye> ) respect to real prop]ty own$ or leas$ by ! taxpay]4 7b7 ,qualify+ mitigation activities ,= purposes ( ?is section1 ! t]m qualify+ mitigation activity means an activity relat+ to a h\s+ unit-- 7#a7 = prop]ty to-- 7,a7 improve ! /r5g? ( a ro( deck atta*m5t2 7,b7 create a second>y wat] b>ri] to prev5t wat] intrusion or mitigate aga9/ pot5tial wat] intrusion f w9d-driv5 ra92 7,c7 improve ! durability1 impact resi/ance 7n less ?an class #c or #d rat+71 or fire resi/ance 7n less ?an class ,a rat+7 ( a ro( cov]+2 7,d7 brace gable-end walls2 7,e7 re9=ce ! connection betwe5 a ro( & support+ wall2 7,f7 protect op5+s f p5etration by w9d-borne debris2 7,g7 protect ext]ior doors & g>ages f natural haz>ds2 7,h7 complete measures conta9$ 9 ! publication ( ! ,f$]al ,em]g5cy ,managem5t ,ag5cy entitl$ ,w9d ,retr(it ,guide = ,resid5tial ,build+s 7,p-#hjd72 7,i7 elevate ! qualifi$ dwell+ unit1 z well z utilities1 ma*9]y1 or equipm5t1 above ! base flood elevation or o!r applicable m9imum elevation requirem5t2 7,j7 seal walls 9 ! basem5t ( ! qualifi$ dwell+ unit us+ wat]pro(+ comp\nds2 or 7,k7 protect propane tanks or o!r ext]nal fuel s\rces2 7#b7 to in/all-- 7,a7 *eck valves to prev5t flood wat] f back+ up into dra9s2 7,b7 flood v5ts1 breakaway walls or op5 lattice = homes locat$ 9 ,v zones2 7,c7 a /ormwat] dra9age sy/em or improve an exi/+ sy/em2 7,d7 natural or nature-bas$ features = flood control1 includ+ liv+ %orel9es2 7,e7 ro( cov]+s1 %ea?+1 fla%+1 ro( & attic v5ts1 eaves1 or gutt]s t con=m to ignition-resi/ant con/ruction /&>ds2 7,f7 wall compon5ts = wall assemblies t con=m to ignition-resi/ant con/ruction /&>ds2 7,g7 a wall-to-f\ndation an*or or connector1 or a %e> transf] an*or or connector2 7,h7 wood /ructural panel %ea?+ = /r5g!n+ cripple walls2 7,i7 an*orage ( ! masonry *imney to ! fram+2 7,j7 prefabricat$ lat]al resi/+ sy/ems2 7,k7 a /&by g5]ator sy/em consi/+ ( a /&by g5]ator & an automatic transf] swit*2 7,l7 a /orm %elt] t meets ! design & con/ruction /&>ds e/abli%$ by ! ,int]national ,code ,c\ncil & ! ,national ,/orm ,%elt] ,association 7,,icc-#ejj71 or a safe room t satisfies ! crit]ia conta9$ 9-- 7i7 ! publication ( ! ,f$]al ,em]g5cy ,managem5t ,ag5cy entitl$ ,safe ,rooms = ,tornadoes & ,hurricanes 7,p-#cfa72 or 7ii7 ! publication ( ! ,f$]al ,em]g5cy ,managem5t ,ag5cy entitl$ ,tak+ ,%elt] f ! ,/orm 7,p-#cbj72 7,m7 a lightn+ protection sy/em2 7,n7 ext]ior walls1 doors1 w9d[s1 or o!r ext]ior dwell+ unit elem5ts t con=m to ignition-resi/ant con/ruction /&>ds2 7,o7 ext]ior deck or f5ce compon5ts t con=m to ignition-resi/ant con/ruction /&>ds2 7,p7 /ructure-specific wat] hydration sy/ems1 includ+ fire mitigation sy/ems su* z int]ior spr9kl] sy/ems2 7,q7 flood op5+s = fully enclos$ areas bel[ ! l[e/ floor ( ! dwell+ unit2 7,r7 lat]al brac+ = wall elem5ts1 f\ndation elem5ts1 & g>age doors or o!r l>ge op5+s to resi/ seismic loads2 or 7,s7 automatic %ut(f valves = wat] & gas l9es2 7#c7 = s]vices or equipm5t to-- 7,a7 create buff]s ar\nd ! qualifi$ dwell+ unit ?r\gh ! removal or r$uction ( flammable vegetation1 includ+ v]tical cle>ance ( tree bran*es2 7,b7 create buff]s ar\nd ! dwell+ unit ?r\gh-- 7i7 ! removal ( ext]ior deck or f5ce compon5ts or ignition-prone l&scape features2 or 7ii7 replacem5t ( ! compon5ts or features describ$ 9 clause 7i7 ) compon5ts or features t con=m to ignition-resi/ant con/ruction /&>ds2 7,c7 p]=m fire ma9t5ance proc$ures id5tifi$ by ! ,f$]al ,em]g5cy ,managem5t ,ag5cy or ! ,unit$ ,/ates ,=e/ ,s]vice1 includ+ fuel managem5t te*niques su* z creat+ fuel & fire breaks2 or 7,d7 replace flammable vegetation ) less flammable species2 7#d7 = prop]ty relat+ to satisfy+ ! /&>ds requir$ = receipt ( a ,,=tifi$ designation f ! ,insurance ,in/itute = ,bus9ess & ,home ,safety1 provid$ t ! qualifi$ dwell+ unit receives su* designation foll[+ in/allation ( su* prop]ty2 7#e7 = prop]ty relat+ to satisfy+ ! /&>ds requir$ = receipt ( a ,wildfire ,prep>$ ,homes designation f ! ,insurance ,in/itute = ,bus9ess & ,home ,safety1 provid$ t ! qualifi$ dwell+ unit receives su* designation foll[+ in/allation ( su* prop]ty2 or 7#f7 = any o!r haz>d mitigation activity id5tifi$ by ! ,presid5t1 9 consultation ) ! ,adm9i/rator ( ! ,f$]al ,em]g5cy ,managem5t ,ag5cy1 = mitigation ( a natural haz>d4 7c7 ,application ) o!r cr$its 7#a7 ,bus9ess cr$it treat$ z "p ( g5]al bus9ess cr$it ,s mu* ( ! cr$it :i* w\ld be all[$ "u subsection 7a7 = any taxable ye> 7det]m9$ )\t reg>d to ?is subsection7 t is attributable to exp5ditures made 9 ! ord9>y c\rse ( ! taxpay]'s trade or bus9ess 7or1 9 ! case ( exp5ditures made by a ,/ate1 w\ld h be5 exp5ditures made 9 ! ord9>y c\rse ( ! taxpay]'s trade or bus9ess if made by ! taxpay]7 %all be treat$ z a cr$it li/$ 9 section #ch7;b7 = taxable ye> 7& n all[$ "u subsection 7a774 7#b7 ,p]sonal cr$it ,= purposes ( ?is title1 ! cr$it all[$ "u subsection 7a7 = any taxable ye> 7det]m9$ aft] application ( p>agraph 7#a77 %all be treat$ z a cr$it all[able "u subp>t ,a = su* taxable ye>4 7d7 ,r$uction ( cr$it p]c5tage :]e taxpay] exp5ditures less ?an #cj p]c5t 7#a7 ,9 g5]al ,if ! exp5diture p]c5tage ) respect to any item ( exp5diture describ$ "u subsection 7a7 is less ?an #cj p]c5t1 subsection 7a7 %all be appli$ by sub/itut+ ! exp5diture p]c5tage = #cj p]c5t ) respect to su* item ( exp5diture4 7#b7 ,exp5diture p]c5tage ,= purposes ( ?is section1 ! t]m exp5diture p]c5tage means1 ) respect to any item ( exp5diture describ$ "u subsection 7a7 any portion ( :i* is paid or incurr$ by a ,/ate1 ! ratio 7express$ z a p]c5tage7 (-- 7,a7 ! taxpay]'s exp5diture = su* item1 divid$ by 7,b7 ! sum ( ! taxpay]'s & su* ,/ate's exp5ditures = su* item4 7e7 ,special rules 7#a7 ,treatm5t ( exp5ditures relat$ to m>ketable timb] ,an exp5diture %all n be tak5 into acc\nt = purposes ( ?is section 7:e!r made by ! taxpay] or a ,/ate7 if su* exp5diture is prop]ly allocable to timb] :i* is sold or ex*ang$ by ! taxpay]4 ,! prec$+ s5t5ce %all n apply to ! ext5t t su* am\nt exce$s ! ga9 on su* sale or ex*ange4 7#b7 ,treatm5t ( reimbursem5ts ,any am\nt orig9ally paid or incurr$ by ! taxpay] :i* is reimburs$ by a ,/ate "u a qualifi$ ,/ate disa/] mitigation program %all be treat$ z paid by su* ,/ate 7& n by su* taxpay]74 7#c7 ,basis r$uction ,= purposes ( ?is subtitle1 if ! basis ( any prop]ty w\ld 7b = ?is p>agraph7 be det]m9$ by tak+ into acc\nt any exp5diture describ$ "u subsection 7a71 ! basis ( su* prop]ty %all be r$uc$ by ! am\nt ( ! cr$it all[$ "u subsection 7a7 ) respect to su* exp5diture 7det]m9$ )\t reg>d to subsection 7c774 7#d7 ,d5ial ( d\ble b5efit ,! am\nt ( any d$uction or o!r cr$it all[able "u ?is *apt] = any exp5diture = :i* a cr$it is all[able "u subsection 7a7 %all be r$uc$ by ! am\nt ( cr$it all[$ "u su* subsection = su* exp5diture 7det]m9$ )\t reg>d to subsection 7c774 4 7b7 ,con=m+ am5dm5ts 7#a7 ,section #ch7;b71 z am5d$ by ! prec$+ provisions ( ?is ,act1 is am5d$ by /rik+ plus at ! end ( p>agraph 7#db71 by /rik+ ! p]iod at ! end ( p>agraph 7#dc7 & ins]t+ 1 plus1 & by add+ at ! end ! foll[+ new p>agraph3 7#dd7 ! portion ( ! disa/] mitigation exp5ditures cr$it to :i* section #bh7;c77#a7 applies4 4 7#b7 ,section #ajaf7;a71 z am5d$ by ! prec$+ provisions ( ?is ,act1 is am5d$ by /rik+ & at ! end ( p>agraph 7#ci71 by /rik+ ! p]iod at ! end ( p>agraph 7#dj7 & ins]t+ 1 &1 & by add+ at ! end ! foll[+ new p>agraph3 7#da7 to ! ext5t provid$ 9 section #bh7;e77#b74 4 7#c7 ,! table ( sections = subp>t ,b ( "p ,,iv ( sub*apt] ,a ( *apt] #a is am5d$ by ins]t+ aft] ! item relat+ to section #bg ! foll[+ new item3 ,sec4 #bh4 ,qualifi$ disa/] mitigation exp5ditures4 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to exp5ditures paid or incurr$ aft] ! date ( ! enactm5t ( ?is ,act1 9 taxable ye>s end+ aft] su* date4 #bdjjf4 ,e/abli%m5t ( electric p[] transmission l9e cr$it 7a7 ,9 g5]al ,subp>t ,e ( "p ,,iv ( sub*apt] ,a ( *apt] #a1 z am5d$ by ! prec$+ provisions ( ?is ,act1 is am5d$ by ins]t+ aft] section #dh;,f ! foll[+ new section3 #dh;,g4 ,qualify+ electric p[] transmission l9e cr$it 7a7 ,all[ance ( cr$it ,= purposes ( section #df1 ! qualify+ electric p[] transmission l9e cr$it = any taxable ye> is an am\nt equal to #cj p]c5t ( ! qualifi$ inve/m5t = su* taxable ye> ) respect to any qualify+ electric p[] transmission l9e prop]ty ( ! taxpay]4 7b7 ,qualify+ inve/m5t 7#a7 ,9 g5]al ,= purposes ( subsection 7a71 ! qualifi$ inve/m5t = any taxable ye> is ! basis ( any qualify+ electric p[] transmission l9e prop]ty plac$ 9 s]vice by ! taxpay] dur+ su* taxable ye>4 7#b7 ,c]ta9 qualifi$ progress exp5ditures rules made applicable ,rules simil> to ! rules ( subsections 7c77#d7 & 7d7 ( section #df 7z 9 effect on ! day be=e ! enactm5t ( ! ,rev5ue ,reconciliation ,act ( #aiij7 %all apply = purposes ( ?is section4 7c7 ,qualify+ electric p[] transmission l9e prop]ty ,= purposes ( ?is section-- 7#a7 ,9 g5]al ,! t]m qualify+ electric p[] transmission l9e prop]ty means any ov]head1 subm>9e1 or und]gr\nd prop]ty-- 7,a7 :i* is a qualify+ electric p[] transmission l9e t transmits electricity-- 7i7 across n less ?an #b ,/ates or n less ?an #aej cont9u\s miles1 or 7ii7 across ! ,out] ,cont95tal ,%elf 7z def9$ 9 section #b ( ! ,out] ,cont95tal ,l&s ,act 7#dc ,u4,s4,c4 #acca771 or 7,b7 :i* is relat$ transmission prop]ty4 7#b7 ,prevail+ wage & appr5tice%ip requirem5ts ,su* t]m %all n include any prop]ty unless su* prop]ty meets ! requirem5ts ( p>agraph 7#g7 & 7#h7 ( section #de7;b74 7d7 ,qualify+ electric p[] transmission l9e ,= purposes ( ?is section-- 7#a7 ,9 g5]al ,! t]m qualify+ electric p[] transmission l9e means any ( ! foll[+3 7,a7 ,new transmission prop]ty 7i7 ,9 g5]al ,any electric p[] transmission l9e :i* is-- 7,i7 orig9ally plac$ 9 s]vice aft] ! date ( enactm5t ( ?is section1 7,,ii7 prim>ily us$ = "o or m purposes describ$ 9 clause 7ii71 & 7,,iii7 describ$ 9 clause 7iv74 7ii7 ,purposes describ$ ,! purposes describ$ 9 ?is clause are-- 7,i7 enhanc+ resili5ce to prep>e =1 )/&1 & recov] rapidly f disruptions f ! impact ( wea!r ev5ts1 wildfires1 or natural disa/]s1 7,,ii7 address+ cle>ance conc]ns1 7,,iii7 facilitat+ ! int]connection ( electric g5]ation capacity to ! bulk-p[] sy/em 7z def9$ 9 section #bae ( ! ,f$]al ,p[] ,act71 or 7,,iv7 address+ high load ne$s ( #b1jjj amp]e & above4 7iii7 ,multiple transmission l9es locat$ 9 ! same "r-(-way ,a transmission l9e is describ$ 9 ?is clause if su* a transmission l9e-- 7,i7 is co-locat$ 9 ! same "r-(-way or adjac5t "r-(-way z "o or m o!r ov]head1 subm>9e1 or und]gr\nd transmission l9es1 & 7,,ii7 toge!r ) ! o!r transmission l9es describ$ 9 subclause 7,i71 has a transmission capacity ( n less ?an #a1jjj megawatts4 7iv7 ,additional requirem5ts = new transmission prop]ty ,an electric p[] transmission l9e is describ$ 9 ?is clause if-- 7,i7 su* transmission l9e-- 7aa7 includes an advanc$ transmission conductor1 & 7bb7 is capable ( transmitt+ electricity at a voltage ( n less ?an #ajj kilovolts1 or 7,,ii7 su* transmission l9e-- 7aa7 is-- 7,,aa7 capable ( transmitt+ electricity at a voltage ( n less ?an #cde kilovolts1 or 7,,bb7 a sup]conduct+ transmission l9e1 & 7bb7 has a transmission capacity ( n less ?an #gej megawatts or is a transmission l9e describ$ 9 clause 7iii74 7,b7 ,modification ( exi/+ transmission prop]ty ,any electric p[] transmission l9e :i*-- 7i7 0 plac$ 9 s]vice be=e ! date ( ! enactm5t ( ?is section1 7ii7 is modifi$ aft] ! date ( ! enactm5t ( ?is ,act 9 a mann] t increases ! transmission capacity ( su* transmission l9e by n less ?an #ejj megawatts1 & 7iii7 aft] ! completion ( su* modification1 is an electric p[] transmission l9e :i* satisfies ! requirem5ts "u subclauses 7,,ii7 & 7,,iii7 ( subp>agraph 7,a77i74 7#b7 ,advanc$ transmission conductor ,! t]m advanc$ transmission conductor means a transmission conductor te*nology t uses rec5tly develop$ te*nology or mat]ials su* z a composite core & su* o!r future advances z det]m9$ by ! ,secret>y1 9 consultation ) ! ,secret>y ( ,en]gy4 7#c7 ,sup]conduct+ transmission l9e ,! t]m sup]conduct+ transmission l9e means a transmission l9e t conducts all ( its curr5t ov] a sup]-conduct+ mat]ial4 7e7 ,relat$ transmission prop]ty ,= purposes ( ?is section-- 7#a7 ,9 g5]al ,! t]m relat$ transmission prop]ty means any ( ! foll[+3 7,a7 ,transmission prop]ty us$ = int]connection or g5]ator tie-l9e ,any electric p[] transmission l9e :i* is-- 7i7 plac$ 9 s]vice aft] ! date ( enactm5t ( ?is section1 7ii7 prim>ily us$-- 7,i7 z a g5]ator int]connection tie l9e at an associat$ facility t ext5ds f ! second>y 7high7 side ( a g5]ator /ep-up trans=m] to ! po9t ( int]connection ) ! ho/ transmission own] f int]connect+ new g5]ation res\rces or facilities to ! electric grid1 or 7,,ii7 = network upgrades associat$ ) ! int]connection ( new g5]ation res\rces or facilities to ! electric grid1 7iii7 prim>ily us$ = "o or m purposes describ$ 9 subp>agraph 7d77#a77;,a77ii71 & 7iv7 capable ( transmitt+ electricity at a voltage ( n less ?an #bcj kilovolts4 7,b7 ,grid enhanc+ te*nology ,any grid enhanc+ te*nology prop]ty us$ 9 ! op]ation ( ! electric p[] transmission l9e describ$ 9 subp>agraph 7,a7 or 7,b7 ( subsection 7d77#a74 7,c7 ,subcompon5ts ,any conductors or cables1 t[]s1 insulators1 reactors1 capacitors1 circuit break]s1 /atic ,,v> comp5sators1 /atic syn*ron\s comp5sators1 p[] conv]t]s1 trans=m]s1 syn*ron\s cond5s]s1 brak+ resi/ors1 & any ancill>y facilities & equipm5t necess>y = ! prop] op]ation ( ! electric transmission l9e describ$ 9 subp>agraph 7,a7 or 7,b7 ( subsection 7d77#a7 or = ! prop] op]ation ( any prop]ty describ$ 9 subsection 7#a77;,a74 7#b7 ,grid enhanc+ te*nology prop]ty ,! t]m grid enhanc+ te*nology prop]ty means p[] fl[ controls & transmission swit*+ equipm5t1 /orage te*nology1 & h>dw>e or s(tw>e t enables dynamic l9e rat+s1 advanc$ l9e rat+ managem5t te*nologies1 on new or exi/+ transmission prop]ty = ! purpose ( enhanc+ ! capacity1 effici5cy1 resili5cy1 or reliability ( an electric p[] transmission sy/em & su* o!r simil> prop]ty det]m9$ by ! ,secret>y1 9 consultation ) ! ,secret>y ( ,en]gy4 7f7 ,t]m9ation ,?is section %all n apply to any prop]ty ! con/ruction ( :i* beg9s aft] ,decemb] #ca1 #bjcc4 4 7b7 ,public utility prop]ty ,p>agraph 7#b7 ( section #ej7;d7 is am5d$-- 7#a7 by /rik+ 7z def9$ 9 section #dh7;c77#f77 & ins]t+ 7z def9$ 9 section #dh7;c77#f71 except t subp>agraph 7,d7 ( su* section %all n apply7 or any qualify+ electric p[] transmission l9e prop]ty 7z def9$ by section #dh;,g7c771 & 7#b7 9 subp>agraph 7,b7-- 7,a7 by ins]t+ or qualify+ electric transmission l9e prop]ty aft] ea* en]gy /orage te*nology1 & 7,b7 by ins]t+ or ! qualify+ electric transmission l9e prop]ty aft] ! en]gy /orage te*nology4 7c7 ,transf] ( c]ta9 cr$its ,section #fdah7;f77#a77;,a71 z am5d$ by ! prec$+ provisions ( ?is ,act1 is am5d$ by add+ ! foll[+ new clause3 7xiv7 ,! qualify+ electric p[] transmission l9e cr$it "u section #dh;,g4 4 7d7 ,con=m+ am5dm5ts 7#a7 ,section #df1 z am5d$ by ! prec$+ provisions ( ?is ,act1 is am5d$-- 7,a7 by /rik+ & at ! end ( p>agraph 7#g71 7,b7 by /rik+ ! p]iod at ! end ( p>agraph 7#h7 & ins]t+ 1 &1 & 7,c7 by add+ at ! end ! foll[+ new p>agraph3 7#i7 ! qualify+ electric p[] transmission l9e cr$it4 4 7#b7 ,section #di7;a77#a77;,c71 z am5d$ by ! prec$+ provisions ( ?is ,act1 is am5d$-- 7,a7 by /rik+ & at ! end ( clause 7viii71 7,b7 by /rik+ ! p]iod at ! end ( clause 7ix7 & ins]t+ 1 &1 & 7,c7 by add+ at ! end ! foll[+ new clause3 7x7 ! basis ( any qualify+ electric p[] transmission l9e prop]ty "u section #dh;,g4 4 7#c7 ,! table ( sections = subp>t ,e ( "p ,,iv ( sub*apt] ,a ( *apt] #a1 z am5d$ by ! prec$+ provisions ( ?is ,act1 is am5d$ by ins]t+ aft] ! item relat+ to section #dh;,f ! foll[+ new item3 ,sec4 #dh;,g4 ,qualify+ electric p[] transmission l9e cr$it4 4 7e7 ,effective date ,! am5dm5ts made by ?is section %all apply to prop]ty plac$ 9 s]vice aft] ,decemb] #ca1 #bjbe4 #bdjjg4 ,qualify+ advanc$ batt]y project cr$it 7a7 ,9 g5]al ,subp>t ,e ( "p ,,iv ( sub*apt] ,a ( *apt] #a1 z am5d$ by ! prec$+ provisions ( ?is ,act1 is am5d$ by ins]t+ aft] section #dh;,g ! foll[+ new section3 #dh;,h4 ,qualify+ advanc$ batt]y project cr$it 7a7 ,9 g5]al ,= purposes ( section #df1 ! qualify+ advanc$ batt]y project cr$it = any taxable ye> is an am\nt equal to #cj p]c5t ( ! qualifi$ inve/m5t = su* taxable ye> ) respect to any qualify+ advanc$ batt]y project ( ! taxpay]4 7b7 ,qualifi$ inve/m5t 7#a7 ,9 g5]al ,= purposes ( subsection 7a71 ! qualifi$ inve/m5t = any taxable ye> is ! basis ( eligible prop]ty plac$ 9 s]vice by ! taxpay] dur+ su* taxable ye> :i* is "p ( a qualify+ advanc$ batt]y project4 7#b7 ,c]ta9 qualifi$ progress exp5ditures rules made applicable ,rules simil> to ! rules ( subsections 7c77#d7 & 7d7 ( section #df 7z 9 effect on ! day be=e ! enactm5t ( ! ,rev5ue ,reconciliation ,act ( #aiij7 %all apply = purposes ( ?is section4 7#c7 ,limitation ,! am\nt :i* is treat$ z ! qualifi$ inve/m5t = all taxable ye>s ) respect to any qualify+ advanc$ batt]y project %all n exce$ ! am\nt designat$ by ! ,secret>y z eligible = ! cr$it "u ?is section4 7c7 ,def9itions ,= purposes ( ?is section-- 7#a7 ,qualify+ advanc$ batt]y project ,! t]m qualify+ advanc$ batt]y project means a project1 any portion ( ! qualifi$ inve/m5t ( :i* is c]tifi$ by ! ,secret>y "u subsection 7e7 z eligible = a cr$it "u ?is section1 :i* re-equips1 exp&s1 or e/abli%es a qualifi$ advanc$ batt]y manufactur+ & rese>* facility4 7#b7 ,qualifi$ advanc$ batt]y manufactur+ & rese>* facility ,! t]m qualifi$ advanc$ batt]y manufactur+ or rese>* facility-- 7,a7 means a facility-- 7i7 locat$ )9 ! ,unit$ ,/ates1 & 7ii7 prim>ily us$ = ! production or rese>* & developm5t ( batt]ies or batt]y compon5ts employ+ advanc$ *emi/ries or te*nologies t improve batt]y p]=mance1 fire safety1 & longevity1 includ+-- 7,i7 solid-/ate li?ium metal batt]ies1 7,,ii7 li?ium-sulfur batt]ies1 7,,iii7 metal-air batt]ies1 7,,iv7 sodium-ion batt]ies1 & 7,v7 su* o!r *emi/ries or te*nologies z ! ,secret>y1 aft] consultation ) ! ,secret>y ( ,en]gy1 det]m9es to (f] significant advancem5ts ov] traditional li?ium-ion te*nology ) respect to p]=mance or fire safety1 & 7,b7 does n include facilities :i* produce only traditional li?ium-ion batt]ies )\t incorporat+ advanc$ *emi/ries or te*nologies describ$ 9 subp>agraph 7,a77ii74 7d7 ,qualify+ advanc$ batt]y project program 7#a7 ,e/abli%m5t 7,a7 ,9 g5]al ,n lat] ?an #ahj days aft] ! date ( enactm5t ( ?is section1 ! ,secret>y1 9 consultation ) ! ,secret>y ( ,en]gy1 %all e/abli% a qualify+ advanc$ batt]y project program to consid] & aw>d c]tifications = qualifi$ inve/m5ts eligible = cr$its "u ?is section to qualify+ advanc$ batt]y project sponsors4 7,b7 ,limitation ,! total am\nt ( cr$its t may be allocat$ "u ! program %all n exce$ #c1jjj1jjj1jjj4 7#b7 ,c]tification 7,a7 ,application p]iod ,ea* applicant = c]tification "u ?is p>agraph %all submit an application conta9+ su* in=mation z ! ,secret>y may require dur+ ! #b-ye> p]iod beg9n+ on ! date ! ,secret>y e/abli%es ! program "u p>agraph 7#a74 7,b7 ,"t to meet crit]ia = c]tification ,ea* applicant = c]tification %all h #a ye> f ! date ( acceptance by ! ,secret>y ( ! application dur+ :i* to provide to ! ,secret>y evid5ce t ! requirem5ts ( ! c]tification h be5 met4 7,c7 ,p]iod ( issuance ,an applicant :i* receives a c]tification %all h #c ye>s f ! date ( issuance ( ! c]tification 9 ord] to place ! project 9 s]vice & if su* project is n plac$ 9 s]vice by t "t p]iod1 !n ! c]tification %all no long] be valid4 7#c7 ,selection crit]ia ,rules simil> to ! rules ( section #dh;,c7d77#c7 %all apply4 7#d7 ,review & r$i/ribution 7,a7 ,review ,n lat] ?an #d ye>s aft] ! date ( enactm5t ( ?is section1 ! ,secret>y %all review ! cr$its allocat$ "u ?is section z ( su* date4 7,b7 ,r$i/ribution ,! ,secret>y may reallocate cr$its aw>d$ "u ?is section if ! ,secret>y det]m9es t-- 7i7 !re is an insuffici5t quantity ( qualify+ applications = c]tification p5d+ at ! "t ( ! review1 or 7ii7 any c]tification made pursuant to p>agraph 7#b7 has be5 revok$ pursuant to p>agraph 7#b77;,b7 because ! project subject to ! c]tification has be5 delay$ z a result ( ?ird p>ty opposition or litigation to ! propos$ project4 7,c7 ,reallocation ,if ! ,secret>y det]m9es t cr$its "u ?is section are available = reallocation pursuant to ! requirem5ts set =? 9 p>agraph 7#b71 ! ,secret>y is au?oriz$ to conduct an additional program = applications = c]tification4 7#e7 ,disclosure ( allocations ,! ,secret>y %all1 ^u mak+ an allocation "u ?is subsection1 publicly disclose ! id5tity ( ! applicant & ! am\nt ( ! cr$it ) respect to su* applicant4 7e7 ,d5ial ( d\ble b5efit ,no cr$it %all be all[$ "u ?is section = any qualifi$ inve/m5t = :i* a cr$it is all[$ "u ano!r provision ( ?is title4 7f7 ,regulations & guidance ,! ,secret>y1 aft] consultation ) ! ,secret>y ( ,en]gy1 %all issue su* regulations & guidance z necess>y to implem5t ?is section1 includ+ ! publication ( an annual li/ ( advanc$ *emi/ries or te*nologies "u subsection 7c77#b74 4 7b7 ,cr$it eligible = elective paym5t ,section #fdag7;b7 is am5d$ by add+ at ! end ! foll[+ new p>agraph3 7#ac7 ,! qualify+ advanc$ batt]y project cr$it det]m9$ "u section #dh;,h4 4 7c7 ,cr$it transf]able ,section #fdah7;f77#a77;,a71 z am5d$ by ! prec$+ provisions ( ?is ,act1 is am5d$ by add+ at ! end ! foll[+ new clause3 7xv7 ,! qualify+ advanc$ batt]y project cr$it det]m9$ "u section #dh;,h4 4 7d7 ,con=m+ am5dm5ts 7#a7 ,section #df1 z am5d$ by ! prec$+ provisions ( ?is ,act1 is am5d$ by /rik+ & at ! end ( p>agraph 7#h71 by /rik+ ! p]iod at ! end ( p>agraph 7#i7 & ins]t+ 1 &1 & by add+ at ! end ! foll[+ new p>agraph3 7#aj7 ! qualify+ advanc$ batt]y project cr$it4 4 7#b7 ,section #di7;a77#a77;,c71 z am5d$ by ! prec$+ provisions ( ?is ,act1 is am5d$ by /rik+ & at ! end ( clause 7ix71 by /rik+ ! p]iod at ! end ( clause 7x7 & ins]t+ 1 &1 & by add+ at ! end ! foll[+ new clause3 7xi7 ! basis ( any prop]ty :i* is "p ( a qualifi$ advanc$ batt]y manufactur+ or rese>* facility "u section #dh;,h4 4 7#c7 ,section #ej7;a77#b77;,e71 z am5d$ by ! prec$+ provisions ( ?is ,act1 is am5d$ by /rik+ or #dh;,f7f7 & ins]t+ #dh;,f7f71 or #dh;,h7c77#e74 7#d7 ,! table ( sections = subp>t ,e ( "p ,,iv ( sub*apt] ,a ( *apt] #a1 z am5d$ by ! prec$+ provisions ( ?is ,act1 is am5d$ by ins]t+ aft] ! item relat+ to section #dh;,g ! foll[+ new item3 ,sec4 #dh;,h44,qualify+ advanc$ batt]y project cr$it4 4 7e7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbe4 ,,iii ,*ild & dep5d5t c>e ,a ,*ild tax cr$it #cajja4 ,e/abli%m5t ( refundable *ild tax cr$it ) mon?ly advance paym5t 7a7 ,9 g5]al ,subp>t ,a ( "p ,,iv ( sub*apt] ,a ( *apt] #a is am5d$ by ins]t+ aft] section #bd ! foll[+ new sections3 #bd;,a4 ,mon?ly *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> ! sum ( ! mon?ly specifi$ *ild all[ances det]m9$ ) respect to ! taxpay] "u subsection 7b7 = ea* cal5d> mon? dur+ su* taxable ye>4 7b7 ,mon?ly specifi$ *ild all[ance 7#a7 ,9 g5]al ,= purposes ( ?is section1 ! t]m mon?ly specifi$ *ild all[ance means1 ) respect to any taxpay] = any cal5d> mon?1 ! sum (-- 7,a7 #cjj1 ) respect to ea* specifi$ *ild ( su* taxpay] :o w 7z ( ! close ( su* mon?7 h atta9$ age #f1 plus 7,b7 #abj p]c5t ( ! doll> am\nt 9 effect = su* mon? "u subp>agraph 7,a71 ) respect to ea* specifi$ *ild ( su* taxpay] :o w n 7z ( ! close ( su* mon?7 h atta9$ age #f4 ,9 ! case ( any specifi$ *ild ( su* taxpay] :o w n 7z ( ! close ( su* mon?7 h atta9$ ! age ( #a mon?1 subp>agraph 7,b7 %all be appli$ by sub/itut+ #hjj p]c5t = #abj p]c5t4 7#b7 ,limitations bas$ on modifi$ adju/$ gross income 7,a7 ,initial r$uction ,! mon?ly specifi$ *ild all[ance o!rwise det]m9$ "u p>agraph 7#a7 ) respect to any taxpay] = any cal5d> mon? %all be r$uc$ 7b n bel[ z]o7 by #a_/ab ( #e p]c5t ( ! excess 7if any7 ( ! taxpay]'s modifi$ adju/$ gross income = ! applicable taxable ye> ov] ! initial ?re%old am\nt 9 effect = su* applicable taxable ye>4 7,b7 ,limitation on initial r$uction ,! am\nt ( ! r$uction "u subp>agraph 7,a7 %all n exce$ ! less] (-- 7i7 ! excess 7if any7 (-- 7,i7 ! mon?ly specifi$ *ild all[ance ) respect to ! taxpay] = su* cal5d> mon? 7det]m9$ )\t reg>d to ?is p>agraph71 ov] 7,,ii7 ! am\nt :i* w\ld be det]m9$ "u subclause 7,i7 if ! doll> am\nts 9 effect "u subp>agraphs 7,a7 & 7,b7 ( p>agraph 7#a7 7 ea* equal to #aff4fg1 or 7ii7 #a_/ab ( #e p]c5t ( ! excess ( ! second>y ?re%old am\nt ov] ! initial ?re%old am\nt4 7,c7 ,second>y r$uction ,! mon?ly specifi$ *ild all[ance o!rwise det]m9$ "u p>agraph 7#a7 ) respect to any taxpay] = su* cal5d> mon? 7det]m9$ aft] ! application ( subp>agraphs 7,a7 & 7,b77 %all be r$uc$ 7b n bel[ z]o7 by #a_/ab ( #e p]c5t ( ! excess 7if any7 ( ! taxpay]'s modifi$ adju/$ gross income = ! applicable taxable ye> ov] ! second>y ?re%old am\nt4 7,d7 ,def9itions relat$ to limitations bas$ on modifi$ adju/$ gross income ,= purposes ( ?is p>agraph-- 7i7 ,initial ?re%old am\nt ,! t]m initial ?re%old am\nt means-- 7,i7 #aej1jjj1 9 ! case ( a jo9t return or surviv+ sp\se 7z def9$ 9 section #b7;a771 7,,ii7 #a_/b ! doll> am\nt 9 effect "u subclause 7,i71 9 ! case ( a m>ri$ individual fil+ a sep>ate return1 & 7,,iii7 #aab1ejj1 9 any o!r case4 7ii7 ,second>y ?re%old am\nt ,! t]m second>y ?re%old am\nt means-- 7,i7 #djj1jjj1 9 ! case ( a jo9t return or surviv+ sp\se 7z def9$ 9 section #b7;a771 7,,ii7 #bjj1jjj1 9 ! case ( a m>ri$ individual fil+ a sep>ate return1 & 7,,iii7 #cjj1jjj1 9 any o!r case4 7iii7 ,applicable taxable ye> ,! t]m applicable taxable ye> means1 ) respect to any taxable ye> = :i* ! cr$it "u ?is section is det]m9$-- 7,i7 su* taxable ye>1 or 7,,ii7 if ! taxpay] elects ! application ( ?is subclause 7at su* "t & 9 su* =m & mann] z ! ,secret>y may provide71 ! prec$+ taxable ye> or ! second prec$+ taxable ye> 7z specifi$ 9 su* election74 7iv7 ,modifi$ adju/$ gross income ,! 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#c7 ,inflation adju/m5ts 7,a7 ,mon?ly specifi$ *ild all[ance ,9 ! case ( any mon? beg9n+ aft] ,decemb] #ca1 #bjbf1 ! #cjj am\nt 9 p>agraph 7#a77;,a7 %all be increas$ by an am\nt equal to-- 7i7 su* doll> am\nt1 multipli$ by-- 7ii7 ! p]c5tage 7if any7 by :i*-- 7,i7 ! ,,cpi 7z def9$ 9 section #a7;f77#d77 = ! cal5d> ye> prec$+ ! cal5d> ye> 9 :i* su* mon? beg9s1 exce$s 7,,ii7 ! ,,cpi 7z s def9$7 = cal5d> ye> #bjbe4 7,b7 ,initial ?re%old am\nt ,9 ! case ( any taxable ye> beg9n+ aft] ,decemb] #ca1 #bjbe1 ! doll> am\nts 9 subclauses 7,i7 & 7,,iii7 ( p>agraph 7#b77;,d77i7 %all ea* be increas$ by an am\nt equal to-- 7i7 su* doll> am\nt1 multipli$ by 7ii7 ! p]c5tage 7if any7 :i* w\ld be det]m9$ "u subp>agraph 7,a77ii7 if subclause 7,,ii7 !re( 7 appli$ by sub/itut+ #bjbb = #bjbd4 7,c7 ,r\nd+ 7i7 ,mon?ly specifi$ *ild all[ance ,any increase "u subp>agraph 7,a7 :i* is n a multiple ( #aj %all be r\nd$ to ! ne>e/ multiple ( #aj4 7ii7 ,initial ?re%old am\nt ,any increase "u subp>agraph 7,b7 :i* is n a multiple ( #e1jjj %all be r\nd$ to ! ne>e/ multiple ( #e1jjj4 7c7 ,specifi$ *ild ,= purposes ( ?is section-- 7#a7 ,9 g5]al ,! t]m specifi$ *ild means1 ) respect to any taxpay] = any cal5d> mon?1 an individual-- 7,a7 :o has ! same pr9cipal place ( abode z ! taxpay] = m ?an "o-half ( su* mon?1 7,b7 :o is y\ng] ?an ! taxpay] & w n1 z ( ! close ( su* mon?1 h atta9$ age #ah1 7,c7 :o receives c>e f ! taxpay] dur+ su* mon? t is n comp5sat$1 7,d7 :o is n ! sp\se ( ! taxpay] at any "t dur+ su* mon?1 & 7,e7 :o ei!r-- 7i7 is a citiz51 national1 or resid5t ( ! ,unit$ ,/ates1 or 7ii7 if ! taxpay] is a citiz5 or national ( ! ,unit$ ,/ates1 su* individual is a legally adopt$ individual ( su* taxpay] or is lawfully plac$ ) su* taxpay] = legal adoption by su* taxpay]4 7#b7 ,c]ta9 individuals ineligible ,9 ! case ( an individual :o is a specifi$ *ild ) respect to ano!r taxpay] = any cal5d> mon?1 su* individual %all be treat$ = su* cal5d> mon? z hav+ no specifi$ *ildr54 7#c7 ,c>e f ! taxpay] 7,a7 ,9 g5]al ,except z o!rwise provid$ by ! ,secret>y1 :e!r any individual receives c>e f ! taxpay] 7)9 ! mean+ ( p>agraph 7#a77;,c77 %all be det]m9$ on ! basis ( facts & circum/ances ) respect to ! foll[+ factors3 7i7 ,! sup]vision provid$ by ! taxpay] reg>d+ ! daily activities & ne$s ( ! individual4 7ii7 ,! ma9t5ance by ! taxpay] ( a secure environm5t at :i* ! individual resides4 7iii7 ,! provision or arrangem5t by ! taxpay] (1 & transportation by ! taxpay] to1 m$ical c>e at regul> int]vals & z requir$ = ! individual4 7iv7 ,! involvem5t by ! taxpay] 91 & f9ancial & o!r support by ! taxpay] =1 educational or simil> activities ( ! individual4 7v7 ,any o!r factor t ! ,secret>y det]m9es to be appropriate to det]m9e :e!r ! individual receives c>e f ! taxpay]4 7,b7 ,det]m9ation ( :e!r c>e is comp5sat$ ,= purposes ( det]m9+ if c>e is comp5sat$ )9 ! mean+ ( p>agraph 7#a77;,c71 comp5sation f ! ,f$]al ,gov]nm5t1 a ,/ate or local gov]nm5t1 a ,tribal gov]nm5t1 or any possession ( ! ,unit$ ,/ates %all n be tak5 into acc\nt4 7#d7 ,application ( tie-break] rules 7,a7 ,9 g5]al ,except z provid$ 9 subp>agraph 7,d71 if any individual w\ld 7b = ?is p>agraph7 be a specifi$ *ild ( #b or m taxpay]s = any mon?1 su* individual %all be treat$ z ! specifi$ *ild only ( ! taxpay] :o is-- 7i7 ! p>5t ( ! individual 7or1 if su* individual w\ld 7b = ?is p>agraph7 be a specifi$ *ild ( #b or m p>5ts ( ! individual = su* mon?1 ! p>5t ( ! individual det]m9$ "u subp>agraph 7,b771 7ii7 if ! individual is n a specifi$ *ild ( any p>5t ( ! individual 7det]m9$ )\t reg>d to ?is p>agraph71 ! specifi$ relative ( ! individual ) ! highe/ adju/$ gross income = ! taxable ye> :i* includes su* mon?1 or 7iii7 if ! individual is nei!r a specifi$ *ild ( any p>5t ( ! individual nor a specifi$ *ild ( any specifi$ relative ( ! individual 79 bo? cases det]m9$ )\t reg>d to ?is p>agraph71 ! taxpay] ) ! highe/ adju/$ gross income = ! taxable ye> :i* includes su* mon?4 7,b7 ,tie-break] among p>5ts ,if any individual w\ld 7b = ?is p>agraph7 be ! specifi$ *ild ( #b or m p>5ts ( ! individual = any mon?1 su* *ild %all be treat$ only z ! specifi$ *ild (-- 7i7 ! p>5t ) :om ! *ild resid$ = ! longe/ p]iod ( "t dur+ su* mon?1 or 7ii7 if ! *ild resides ) bo? p>5ts = ! same am\nt ( "t dur+ su* mon?1 ! p>5t ) ! highe/ adju/$ gross income = ! taxable ye> :i* includes su* mon?4 7,c7 ,specifi$ relative ,= purposes ( ?is p>agraph1 ! t]m specifi$ relative means an individual :o is-- 7i7 an ance/or ( a p>5t ( ! specifi$ *ild1 7ii7 a bro!r or si/] ( a p>5t ( ! specifi$ *ild1 or 7iii7 a bro!r1 si/]1 /epbro!r1 or /epsi/] ( ! specifi$ *ild4 7,d7 ,c]ta9 p>5ts or specifi$ relatives n tak5 into acc\nt ,?is p>agraph %all be appli$ )\t reg>d to any p>5t or specifi$ relative ( an individual = any mon? if-- 7i7 su* p>5t or specifi$ relative elects to h su* individual n be treat$ z a specifi$ *ild ( su* p>5t or specifi$ relative = su* mon?1 7ii7 9 ! case ( a p>5t ( su* individual1 ! adju/$ gross income ( ! taxpay] 7) respect to :om su* individual w\ld be treat$ z a specifi$ *ild aft] application ( ?is subp>agraph7 = ! taxable ye> :i* includes su* mon? is high] ?an ! highe/ adju/$ gross income ( any p>5t ( ! individual = any taxable ye> :i* includes su* mon? 7det]m9$ )\t reg>d to any p>5t ) respect to :om su* individual is n a specifi$ *ild1 det]m9$ )\t reg>d to subp>agraphs 7,a7 & 7,b7 & aft] application ( ?is subp>agraph71 & 7iii7 9 ! case ( a specifi$ relative ( su* individual1 ! adju/$ gross income ( ! taxpay] 7) respect to :om su* individual w\ld be treat$ z a specifi$ *ild aft] application ( ?is subp>agraph7 = ! taxable ye> :i* includes su* mon? is high] ?an ! highe/ adju/$ gross income ( any p>5t & any specifi$ relative ( ! individual = any taxable ye> :i* includes su* mon? 7det]m9$ )\t reg>d to any p>5t & any specifi$ relative ) respect to :om su* individual is n a specifi$ *ild1 det]m9$ )\t reg>d to subp>agraphs 7,a7 & 7,b7 & aft] application ( ?is subp>agraph74 7,e7 ,treatm5t ( jo9t returns ,= purposes ( ?is p>agraph1 ) respect to any mon?1 ! adju/$ gross income ( ea* p]son :o files a jo9t return = ! taxable ye> :i* includes su* mon? is ! total adju/$ gross income %[n on ! jo9t return = ! taxable ye>4 7,f7 ,p>5t ,except z o!rwise provid$ by ! ,secret>y1 ! t]m p>5t %all h ! same mean+ z :5 us$ 9 section #aeb7;c77#d74 7#e7 ,treatm5t ( tempor>y abs5ces ,except z provid$ 9 regulations or o!r guidance issu$ by ! ,secret>y1 = purposes ( ?is subsection-- 7,a7 ,9 g5]al ,9 ! case ( any individual's tempor>y abs5ce f su* individual's pr9cipal place ( abode1 ea* day compos+ ! tempor>y abs5ce %all-- 7i7 be treat$ z a day at su* individual's pr9cipal place ( abode1 7ii7 be treat$ z satisfy+ ! c>e requirem5t describ$ 9 p>agraph 7#a77;,c7 = ea* day describ$ 9 clause 7i71 & 7iii7 n be treat$ z a day at any o!r location4 7,b7 ,tempor>y abs5ce ,= purposes ( subp>agraph 7,a71 an abs5ce %all be treat$ z tempor>y if-- 7i7 ! individual w\ld h resid$ at ! place ( abode b = ! abs5ce1 & 7ii7 "u ! facts & circum/ances1 x is reasonable to assume t ! individual w return to reside at ! place ( abode4 7#f7 ,special rule = divorc$ p>5ts1 etc ,rules simil> to ! rules section #aeb7;e7 %all apply = purposes ( ?is subsection4 7#g7 ,eligibility det]m9$ on basis ( presumptive eligibility 7,a7 ,9 g5]al ,if a p]iod ( presumptive eligibility is e/abli%$ "u section #gebg;,a7c7 ) respect to any taxpay] & *ild-- 7i7 su* *ild %all be treat$ z ! specifi$ *ild ( su* taxpay] = any mon? 9 su* p]iod ( presumptive eligibility1 & 7ii7 su* *ild %all n be treat$ z ! specifi$ *ild ( any o!r taxpay] ) respect to :om a p]iod ( presumptive eligibility has n be5 e/abli%$ = any su* mon?4 7,b7 ,ability ( cr$it claimants to e/abli% presumptive eligibility ,no?+ 9 section #gebg;,a7c7 %all be int]pret$ to preclude a taxpay] f e/abli%+ a p]iod ( presumptive eligibility 7includ+ any p]iod describ$ 9 subp>agraph 7,d7 ) respect to :i* paym5t c\ld be made7 ) respect to any specifi$ *ild = purposes ( ?is section solely because su* taxpay] affirmatively elects n to receive mon?ly advance *ild paym5ts "u section #gebg;,a4 7,c7 ,exception = income-bas$ tie-break] rules ,if a p]iod ( presumptive eligibility is e/abli%$ "u section #gebg;,a7c7 = any individual ) respect to any taxpay] & su* individual is n ! specifi$ *ild ( su* taxpay] = any mon? 9 su* p]iod by reason ( su* taxpay] fail+ to be describ$ 9 clause 7i71 7ii71 or 7iii7 ( p>agraph 7#d77;,a7 = ! taxable ye> :i* includes su* mon?1 subp>agraph 7,a7 %all n apply ) respect to su* mon?4 7,d7 ,treatm5t ( c]ta9 retroactive paym5ts ,if any paym5t is made "u subp>agraph 7,a7 or 7,b7 ( section #gebg;,a7f77#c7 or p>agraph 7#a7 or 7#b7 ( section #gebg;,a7g71 ) respect to any taxpay] & *ild = any p]iod1 su* p]iod %all be treat$ z a p]iod ( presumptive eligibility e/abli%$ "u section #gebg;,a7c7 ) respect to su* taxpay] & *ild = purposes ( apply+ subp>agraph 7,a74 7,e7 ,fraud & int5tional disreg>d ( rules or regulations ,if ! ,secret>y det]m9es t ! taxpay] committ$ fraud or int5tionally disreg>d$ rules or regulations 9 e/abli%+ or ma9ta9+ any p]iod ( presumptive eligibility1 ! mon?s ) respect to :i* su* fraud or int5tional disreg>d relates %all n be treat$ z a p]iod ( presumptive eligibility = purposes ( subp>agraph 7,a74 7d7 ,cr$it refundable ,if ! taxpay] 79 ! case ( a jo9t return1 ei!r sp\se7 has a pr9cipal place ( abode 7det]m9$ z provid$ 9 section #cb7 9 ! ,unit$ ,/ates or ,pu]to ,rico = m ?an "o-half ( any cal5d> mon? dur+ ! taxable ye>1 s mu* ( ! cr$it o!rwise all[$ "u subsection 7a7 z is attributable to mon?ly specifi$ *ild all[ances ) respect to any su* cal5d> mon? %all be all[$ "u subp>t ,c 7& n all[$ "u ?is subp>t74 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 ! taxpay] id5tification numb] ( ! taxpay] 0 issu$ aft] ! due date = fil+ ! return = ! taxable ye>4 7f7 ,re/rictions on taxpay]s :o improp]ly claim$ cr$it or improp]ly receiv$ mon?ly advance *ild paym5t 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> 7& no paym5t %all be made "u section #gebg;,a = any mon?7 9 ! disall[ance p]iod4 7,b7 ,disall[ance p]iod ,= purposes ( subp>agraph 7,a71 ! disall[ance p]iod is-- 7i7 ! p]iod ( #abj cal5d> mon?s aft] ! mo/ rec5t cal5d> mon? = :i* !re 0 a f9al det]m9ation t ! taxpay]'s claim ( cr$it "u ?is section or section #bd 7or paym5t receiv$ "u section #gebg;,a7 0 due to fraud1 & 7ii7 ! p]iod ( #bd cal5d> mon?s aft] ! mo/ rec5t cal5d> mon? = :i* !re 0 a f9al det]m9ation t ! taxpay]'s claim ( cr$it "u ?is section or section #bd 7or paym5t receiv$ "u section #gebg;,a7 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$it "u ?is section or section #bd = any taxable ye> z a result ( ! defici5cy proc$ures "u sub*apt] ,b ( *apt] #fc1 no cr$it %all be all[$ "u ?is section = any subsequ5t taxable ye> 7& no paym5t %all be made "u section #gebg;,a = any subsequ5t mon?7 unless ! taxpay] provides su* in=mation z ! ,secret>y may require to demon/rate eligibility = su* cr$it4 7#c7 ,coord9ation ) possessions ( ! ,unit$ ,/ates ,= purposes ( ?is subsection1 a taxpay]'s claim ( cr$it "u ?is section or section #bd 7or paym5t receiv$ "u section #gebg;,a7 includes a claim ( cr$it "u ?is section or section #bd ( ! income tax law ( any jurisdiction o!r ?an ! ,unit$ ,/ates 7or simil> paym5t receiv$ "u section #gebg;,a ( su* income tax law71 & a claim made or a paym5t receiv$ f ,am]ican ,samoa pursuant to a plan describ$ 9 subsection 7h77#c77;,b7 or section #bd7k77#c77;,b74 7g7 ,reconciliation ( cr$it & mon?ly advance *ild paym5ts 7#a7 ,9 g5]al ,! am\nt o!rwise det]m9$ "u subsection 7a7 ) respect to any taxpay] = any taxable ye> %all be r$uc$ 7b n bel[ z]o7 by ! aggregate am\nt ( paym5ts made "u section #gebg;,a to su* taxpay] = "o or m cal5d> mon?s 9 su* taxable ye>4 ,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 ,increase 9 tax equal to excess advance paym5ts 9 c]ta9 circum/ances ,if ! aggregate am\nt ( paym5ts made to ! taxpay] "u section #gebg;,a = "o or m cal5d> mon?s 9 su* taxable ye> exce$s ! am\nt all[$ z a cr$it "u subp>t ,c by reason ( ?is section ) respect to su* taxpay] = su* taxable ye> 7)\t reg>d to p>agraph 7#a7 ( ?is subsection71 ! tax impos$ by ?is *apt] = su* taxable ye> %all be increas$ by s mu* ( su* excess z is attributable to "o or m ( ! foll[+3 7,a7 ,fraud1 or reckless or int5tional disreg>d ( rules & regulations1 by ! taxpay]4 7,b7 ,*anges 9 ! taxpay]'s modifi$ adju/$ gross income or fil+ /atus t affect ! application ( ! limitation impos$ by subsection 7b77#b74 7,c7 ,paym5ts "u section #gebg;,a :i* 7 made = mon?s :i* 7 n "p ( a p]iod ( presumptive eligibility4 7,d7 ,a failure to be ! taxpay] describ$ 9 clause 7i71 7ii71 or 7iii7 ( subsection 7c77#d77;,a74 7,e7 ,a failure to satisfy ! requirem5ts ( subsection 7d74 7,f7 ,a failure to satisfy ! requirem5ts ( p>agraphs 7#a7 or 7#b7 ( subsection 7e71 except t a failure to satisfy ! requirem5ts ( subsection 7e77#a7 %all n be tak5 into acc\nt "u ?is subp>agraph if ! taxpay] demon/rates to ! satisfaction ( ! ,secret>y t x is reasonable to expect t ! qualify+ *ild w be issu$ a taxpay] id5tification numb] & t ! delay 9 su* issuance 0 due to reasonable cause & n willful neglect4 7,g7 ,su* o!r circum/ances z ! ,secret>y id5tifies = purposes ( ?is subp>agraph to facilitate ! adm9i/ration & en=cem5t by ! ,secret>y ( section #gebg;,a1 to m9imize ! am\nt ( advance paym5ts made "u section #gebg;,a to ineligible individuals1 & to prev5t abuse4 7,h7 ,paym5ts subject to treatm5t z excess advance paym5ts aft] notice "u section #gebg;,a7j77#b74 7#c7 ,jo9t returns ,except z o!rwise provid$ by ! ,secret>y1 9 ! case ( an advance paym5t made "u section #gebg;,a ) respect to a jo9t return1 half ( su* paym5t %all be treat$ z hav+ be5 made to ea* individual fil+ su* return4 7#d7 ,coord9ation ) possessions ( ! ,unit$ ,/ates ,= purposes ( ?is subsection1 paym5ts made "u section #gebg;,a include paym5ts made by any jurisdiction o!r ?an ! ,unit$ ,/ates "u section #gebg;,a ( ! income tax law ( su* jurisdiction1 & advance paym5ts made by ,am]ican ,samoa pursuant to a plan describ$ 9 subsection 7h77#c77;,b74 ,any increase 9 tax impos$ on a taxpay] by reason ( p>agraph 7#b7 ( ! income tax law ( a jurisdiction o!r ?an ! ,unit$ ,/ates %all be consid]$ to r$uce ! aggregate am\nt ( paym5ts made to su* taxpay] by su* jurisdiction4 ,9 c>ry+ out ?is section1 ! ,secret>y %all coord9ate ) ea* possession ( ! ,unit$ ,/ates to prev5t any application ( ?is p>agraph t is inconsi/5t ) ! purposes ( ?is subsection4 7h7 ,application ( cr$it 9 possessions 7#a7 ,mirror code possessions 7,a7 ,9 g5]al ,! ,secret>y %all pay to ea* possession ( ! ,unit$ ,/ates ) a mirror code tax sy/em am\nts equal to ! loss 7if any7 to t possession by reason ( ! application ( ?is section 7det]m9$ )\t reg>d to ?is subsection7 ) respect to taxable ye>s beg9n+ 9 cal5d> ye>s aft] #bjbe4 ,su* am\nts %all be det]m9$ by ! ,secret>y bas$ on in=mation provid$ by ! gov]nm5t ( ! respective possession4 7,b7 ,coord9ation ) cr$it all[$ aga9/ ,unit$ ,/ates income taxes ,no cr$it %all be all[$ "u ?is section = any taxable ye> to any individual to :om a cr$it is all[able aga9/ taxes impos$ by a possession ( ! ,unit$ ,/ates ) a mirror code tax sy/em by reason ( ! application ( ?is section 9 su* possession = su* taxable ye>4 7,c7 ,mirror code tax sy/em ,= purposes ( ?is p>agraph1 ! t]m mirror code tax sy/em means1 ) respect to any possession ( ! ,unit$ ,/ates1 ! income tax sy/em ( su* possession if ! income tax liability ( ! resid5ts ( su* possession "u su* sy/em is det]m9$ by ref]5ce to ! income tax laws ( ! ,unit$ ,/ates z if su* possession 7 ! ,unit$ ,/ates4 7#b7 ,cross ref]5ces relat$ to application ( cr$it to resid5ts ( ,pu]to ,rico 7,a7 ,= application ( refundable cr$it to resid5ts ( ,pu]to ,rico1 see subsection 7d74 7,b7 ,= application ( advance paym5t to resid5ts ( ,pu]to ,rico1 see section #gebg;,a7b77#e74 7#c7 ,am]ican ,samoa 7,a7 ,9 g5]al ,! ,secret>y %all pay to ,am]ican ,samoa am\nts e/imat$ by ! ,secret>y z be+ equal to ! aggregate b5efits t w\ld h be5 provid$ to resid5ts ( ,am]ican ,samoa by reason ( ! application ( ?is section = taxable ye>s beg9n+ 9 cal5d> ye>s aft] #bjbe if ! provisions ( ?is section _h be5 9 effect 9 ,am]ican ,samoa 7appli$ z if ,am]ican ,samoa 7 ! ,unit$ ,/ates & )\t reg>d to ! application ( ?is section to resid5ts ( ,pu]to ,rico "u subsection 7d774 7,b7 ,di/ribution requirem5t ,subp>agraph 7,a7 %all n apply unless ,am]ican ,samoa has a plan1 :i* has be5 approv$ by ! ,secret>y1 "u :i* ,am]ican ,samoa w promptly di/ribute su* paym5ts to its resid5ts4 7,c7 ,coord9ation ) cr$it all[$ aga9/ ,unit$ ,/ates income taxes 7i7 ,9 g5]al ,9 ! case ( a taxable ye> ) respect to :i* a plan is approv$ "u subp>agraph 7,b71 ?is section 7o!r ?an ?is subsection7 %all n apply to any individual eligible = a di/ribution "u su* plan4 7ii7 ,application ( section 9 ev5t ( abs5ce ( approv$ plan ,9 ! case ( a taxable ye> ) respect to :i* a plan is n approv$ "u subp>agraph 7,b71 subsection 7d7 %all be appli$ by sub/itut+ 1 ,pu]to ,rico1 or ,am]ican ,samoa = or ,pu]to ,rico4 7#d7 ,treatm5t ( paym5ts ,= purposes ( section #acbd ( title #ca1 ,unit$ ,/ates ,code1 ! paym5ts "u ?is subsection %all be treat$ 9 ! same mann] z a refund due f a cr$it provision ref]r$ to 9 subsection 7b77#b7 ( su* section4 7i7 ,regulations ,! ,secret>y %all issue su* regulations or o!r guidance z ! ,secret>y det]m9es necess>y or appropriate to c>ry out ! purposes ( ?is section1 includ+ regulations or o!r guidance-- 7#a7 = det]m9+ :e!r an individual receives c>e f a taxpay] = purposes ( subsection 7c77#a77;,c71 & 7#b7 to coord9ate or modify ! application ( ?is section1 section #bd1 & section #gebg;,a 9 ! case ( any taxpay]-- 7,a7 ^: taxable ye> is o!r ?an a cal5d> ye>1 7,b7 ^: fil+ /atus = a taxable ye> is diff]5t f ! /atus us$ = det]m9+ "o or m mon?ly paym5ts "u section #gebg;,a dur+ su* taxable ye>1 or 7,c7 ^: pr9cipal place ( abode = any mon? is diff]5t f ! pr9cipal place ( abode us$ = det]m9+ ! mon?ly paym5t "u section #gebg;,a = su* mon?4 #bd;,b4 ,cr$it = c]ta9 o!r dep5d5ts 7a7 ,9 g5]al ,!re %all be all[$ z a cr$it aga9/ ! tax impos$ by ?is *apt] = ! taxable ye> an am\nt equal to #ejj ) respect to ea* specifi$ dep5d5t ( su* taxpay] = su* taxable ye>4 7b7 ,limitation bas$ on modifi$ adju/$ gross income 7#a7 ,9 g5]al ,! am\nt ( ! cr$it all[able "u subsection 7a7 %all be r$uc$ 7b n bel[ z]o7 by #ej = ea* #a1jjj 7or fraction !re(7 by :i* ! taxpay]'s modifi$ adju/$ gross income exce$s ! ?re%old am\nt4 7#b7 ,?re%old am\nt ,= purposes ( ?is subsection1 ! t]m ?re%old am\nt means-- 7,a7 #djj1jjj1 9 ! case ( a jo9t return or surviv+ sp\se 7z def9$ 9 section #b7;a771 7,b7 #bjj1jjj1 9 ! case ( a m>ri$ individual fil+ a sep>ate return1 & 7,c7 #cjj1jjj1 9 any o!r case4 7#c7 ,modifi$ adju/$ gross income ,= purposes ( ?is subsection1 ! 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 7c7 ,specifi$ dep5d5t ,= purposes ( ?is section1 ! t]m specifi$ dep5d5t means1 ) respect to any taxpay] = any taxable ye>1 any dep5d5t ( su* taxpay] 7z def9$ 9 section #aeb7 = su* taxable ye> unless su* dep5d5t-- 7#a7 is a specifi$ *ild ( ! taxpay]1 or any o!r taxpay]1 = any mon? dur+ su* taxable ye>1 or 7#b7 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 ,special rule = taxable ye> *ild atta9s age #ah ,if any dep5d5t ( ! taxpay] atta9s age #ah dur+ ! taxable ye>-- 7#a7 :e!r su* dep5d5t is a specifi$ dep5d5t %all be det]m9$ )\t reg>d to p>agraph 7#a7 ( subsection 7c71 & 7#b7 ) respect to su* dep5d5t1 subsection 7a7 %all be appli$ by sub/itut+ an am\nt = #ejj t be>s ! same ratio to #ejj z-- 7,a7 ! excess (-- 7i7 #ab1 ov] 7ii7 ! numb] ( mon?s dur+ su* taxable ye> ) respect to :i* su* dep5d5t is a specifi$ *ild ( ! taxpay] or any o!r taxpay]1 be>s to 7,b7 #ab4 7e7 ,id5tification requirem5ts ,rules simil> to ! rules ( section #bd;,a7e7 %all apply = purposes ( ?is section4 7f7 ,taxable ye> mu/ be full taxable ye> ,except 9 ! case ( a taxable ye> clos$ by reason ( ! dea? ( ! taxpay]1 no cr$it %all be all[able "u ?is section 9 ! case ( a taxable ye> cov]+ a p]iod ( less ?an #ab mon?s4 7g7 ,regulations ,! ,secret>y %all issue su* regulations or o!r guidance z ! ,secret>y det]m9es necess>y or appropriate to c>ry out ! purposes ( ?is section4 4 7b7 ,mon?ly paym5t ( *ild tax cr$it ,section #gebg;,a is am5d$ to read z foll[s3 #gebg;,a4 ,mon?ly paym5ts ( *ild tax cr$it 7a7 ,9 g5]al ,! ,secret>y %all pay to ea* taxpay]1 dur+ ea* cal5d> mon? :i* is dur+ a p]iod ( presumptive eligibility ) respect to ! taxpay] & any *ild1 an am\nt equal to ! mon?ly advance *ild paym5t det]m9$ ) respect to su* taxpay] = su* mon?4 7b7 ,mon?ly advance *ild paym5t ,! t]m mon?ly advance *ild paym5t means1 ) respect to any taxpay] = any cal5d> mon?1 ! am\nt 7if any7 :i* is e/imat$ by ! ,secret>y z be+ equal to ! mon?ly specifi$ *ild all[ance :i* w\ld be det]m9$ "u section #bd;,a7b7 ) respect to su* taxpay] = su* cal5d> mon? if-- 7#a7 ! only specifi$ *ildr5 ( su* taxpay] = su* cal5d> mon? are ! specifi$ *ildr5 ( su* taxpay] = ! ref]5ce mon? 7det]m9$ )\t reg>d to section #bd;,a7c77#g771 7#b7 ! ages ( su* *ildr5 7& ! /atus ( su* *ildr5 z specifi$ *ildr57 are det]m9$ = su* cal5d> mon? by tak+ into acc\nt ! passage ( "t s9ce su* ref]5ce mon?1 7#c7 ea* *ild is only tak5 into acc\nt z a specifi$ *ild = su* cal5d> mon? if su* cal5d> mon? is dur+ a p]iod ( presumptive eligibility ) respect to ! taxpay] & su* *ild1 7#d7 ! limitations ( section #bd;,a7b77#b7 7 appli$ ) respect to ! ref]5ce taxable ye> r ?an ) respect to ! applicable taxable ye>1 & 7#e7 no mon?ly specifi$ *ild all[ance 7 det]m9$ ) respect to su* taxpay] = su* cal5d> mon? unless ! taxpay] 79 ! case ( a jo9t return1 ei!r sp\se7 has a pr9cipal place ( abode 7det]m9$ z provid$ 9 section #cb7 9 ! ,unit$ ,/ates or ,pu]to ,rico = m ?an "o-half ( ! ref]5ce mon?4 7c7 ,p]iod ( presumptive eligibility 7#a7 ,9 g5]al ,= purposes ( ?is section1 ! t]m p]iod ( presumptive eligibility means1 ) respect to any taxpay] & any *ild1 ! p]iod-- 7,a7 beg9n+ ) ! cal5d> mon? foll[+ ! cal5d> mon? dur+ :i* ! taxpay] provides ! ,secret>y ) suffici5t in=mation = ! ,secret>y to-- 7i7 det]m9e t su* *ild 0 a specifi$ *ild ( ! taxpay] = ! ref]5ce mon? 7det]m9$ )\t reg>d to section #bd;,a7c77#g771 & 7ii7 e/imate ! mon?ly advance *ild paym5t = su* cal5d> mon?1 & 7,b7 end+ ) ! e>lie/ (-- 7i7 ! mon? beg9n+ imm$iately aft] ! mon? on :i* ! ,secret>y s5ds ! taxpay] a writt5 notice t ! taxpay]'s p]iod ( presumptive eligibility ) respect to su* *ild is be+ t]m9at$ by reason ( in=mation kn[n to ! ,secret>y 7includ+ a failure to provide annual in=mation "u p>agraph 7#b77 :i* ca/s d\bt on su* taxpay]'s /atus z be+ all[$ ! mon?ly specifi$ *ild all[ance "u section #bd;,a = su* *ild 7det]m9$ )\t reg>d to section #bd;,a7c77#g77 ) respect to "o or m mon?s foll[+ ! ref]5ce mon?1 7ii7 any mon? ) respect to :i* ! taxpay] notifies ! ,secret>y t su* taxpay] is n all[$ a mon?ly specifi$ *ild all[ance = su* mon? "u section #bd;,a7b7 7det]m9$ )\t reg>d to section #bd;,a7c77#g771 & 7iii7 ! mon? beg9n+ imm$iately be=e ! fir/ mon? ( a new p]iod ( presumptive eligibility ) respect to su* taxpay] & su* *ild :i* is e/abli%$ on ! basis ( a ref]5ce mon? m rec5t ?an ! ref]5ce mon? ) respect to :i* su* prior p]iod 0 e/abli%$ 7includ+ on ! basis ( an annual r5ewal describ$ 9 p>agraph 7#b774 7#b7 ,annual r5ewal ,! ,secret>y %all t]m9ate a taxpay]'s p]iod ( presumptive eligibility ) respect to any *ild "u p>agraph 7#a77;,b77i7 unless su* taxpay] provides in=mation suffici5t to e/abli% a new p]iod ( presumptive eligibility ) respect to su* *ild 7z describ$ 9 p>agraph 7#a77;,b77ii77 on an annual basis4 7#c7 ,automatic eligibility = bir? ( *ild ,! ,secret>y %all issue regulations or o!r guidance to e/abli% proc$ures pursuant to :i*1 to ! maximum ext5t adm9i/ratively practicable-- 7,a7 a p>5t ( a *ild born dur+ a cal5d> mon? %all be treat$ z automatically e/abli%+ a p]iod ( presumptive eligibility ) respect to su* *ild1 7,b7 ! mon? = :i* su* p]iod beg9s1 & ! mon? by :i* ! fir/ annual r5ewal describ$ 9 p>agraph 7#b7 mu/ be complet$1 are det]m9$1 & 7,c7 if ! fir/ mon?ly advance *ild paym5t ) respect to su* *ild is made aft] ! cal5d> mon? 9 :i* su* *ild is born1 su* paym5t is increas$ to prop]ly take into acc\nt ! mon?s 9 su* p]iod ( presumptive eligibility :i* prec$e ! mon? 9 :i* su* paym5t is made4 7#d7 ,presumptive eligibility bas$ on c]ta9 gov]nm5t programs ,! ,secret>y %all issue regulations or o!r guidance to e/abli% proc$ures "u :i*-- 7,a7 bas$ on in=mation provid$ to ! ,secret>y by "o or m gov]nm5t entities1 a p>5t or specifi$ relative ( a *ild is treat$ z automatically e/abli%+ a p]iod ( presumptive eligibility ) respect to su* *ild1 & 7,b7 ! mon? = :i* su* p]iod beg9s1 ! mon? by :i* ! fir/ annual r5ewal describ$ 9 p>agraph 7#b7 mu/ be complet$1 & any additional circum/ances "u :i* su* p]iod w t]m9ate1 are det]m9$4 7#e7 ,taxpay] responsibility to notify ,secret>y ,9 ! ev5t t any taxpay] is n all[$ a mon?ly specifi$ *ild all[ance "u section #bd;,a7b7 7det]m9$ )\t reg>d to section #bd;,a7c77#g77 = any mon? 9 a p]iod ( presumptive eligibility ) respect to su* taxpay]1 su* taxpay] %all notify ! ,secret>y "u p>agraph 7#a77;,b77ii7 at su* "t & 9 su* mann] z ! ,secret>y may provide4 7#f7 ,transition rule ,) respect p]iods ( presumptive eligibility beg9n+ dur+ ! fir/ #f mon?s to :i* ?is section applies1 ! ,secret>y %all issue regulations or o!r guidance to e/abli% proc$ures pursuant to :i*-- 7,a7 bas$ on in=mation kn[n to ! ,secret>y includ+ returns ( tax = ei!r ( ! la/ #b taxable ye>s end+ be=e su* mon?1 a p>5t or specifi$ relative ( a *ild is treat$ z automatically e/abli%+ a p]iod ( presumptive eligibility ) respect to su* *ild1 & 7,b7 ! mon? = :i* su* p]iod beg9s1 ! mon? by :i* ! fir/ annual r5ewal describ$ 9 p>agraph 7#b7 mu/ be complet$1 & any additional circum/ances "u :i* su* p]iod w t]m9ate1 are det]m9$4 7d7 ,det]m9ation ( ref]5ce mon? & ref]5ce taxable ye> ,= purposes ( ?is section-- 7#a7 ,ref]5ce mon? ,! t]m ref]5ce mon? means1 ) respect to any cal5d> mon? 9 a p]iod ( presumptive eligibility ) respect to a taxpay]1 ! mo/ rec5t (-- 7,a7 9 ! case ( a taxpay] :o fil$ a return ( tax = ! la/ taxable ye> end+ be=e su* cal5d> mon?1 ! la/ mon? ( su* taxable ye>1 7,b7 9 ! case ( a taxpay] :o fil$ a return ( tax = ! taxable ye> prec$+ ! taxable ye> describ$ 9 subp>agraph 7,a71 ! la/ mon? ( su* prec$+ taxable ye>1 & 7,c7 9 ! case ( a taxpay] :o o!rwise provides ! in=mation ref]r$ to 9 subsection 7c77#a77;,a71 ! mon? ) respect to :i* su* in=mation is provid$4 7#b7 ,ref]5ce taxable ye> ,! t]m ref]5ce taxable ye> means1 ) respect to any cal5d> mon? 9 a p]iod ( presumptive eligibility ) respect to a taxpay]-- 7,a7 if ! ref]5ce mon? ) respect to su* cal5d> mon? is det]m9$ "u subp>agraph 7,a7 or 7,b7 ( p>agraph 7#a71 ! taxable ye> ref]r$ to 9 su* subp>agraph1 respectively1 & 7,b7 if ! ref]5ce mon? ) respect to su* cal5d> mon? is det]m9$ "u subp>agraph 7#a77;,c71 ! la/ taxable ye> end+ be=e su* ref]5ce mon?4 7e7 ,me?ods ( provid+ in=mation ,to e/abli% a p]iod ( presumptive eligibility 7#a7 ,9 g5]al ,! ,secret>y %all ensure ! in=mation describ$ 9 subsection 7c77#a77;,a7 may be provid$ on ! return ( tax = ! taxable ye> end+ be=e ! cal5d> ye> :i* includes ! mon? = :i* su* p]iod w\ld beg91 ?r\gh ! on-l9e portal describ$ 9 p>agraph 7#b71 or 9 su* o!r mann] z ! ,secret>y may provide4 7#b7 ,on-l9e in=mation portal ,! ,secret>y %all e/abli% an on-l9e portal 7available 9 multiple languages7 :i* all[s taxpay]s to-- 7,a7 subject to su* re/rictions z ! ,secret>y may provide1 elect to beg9 or cease receiv+ paym5ts "u ?is section1 & 7,b7 provide ! in=mation describ$ 9 subsection 7c77#a77;,a74 7f7 ,resolution ( compet+ claims ( presumptive eligibility ) respect to same *ild 7#a7 ,9 g5]al ,if !re is a p]iod ( presumptive eligibility ) respect to any taxpay] & *ild 7h]eaft] ref]r$ to z ! orig9al claim71 a p]iod ( presumptive eligibility w\ld 7)\t reg>d to ?is subsection7 be e/abli%$ ) respect ano!r taxpay] & su* *ild 7h]eaft] ref]r$ to z ! *all5ge claim71 & ! p]iod ( su* *all5ge claim w\ld ov]lap ) ! p]iod ( su* orig9al claim-- 7,a7 su* *all5ge claim %all n be tak5 into acc\nt "u ?is section unless ! ref]5ce mon? ) respect to :i* ! *all5ge claim w\ld be e/abli%$ is at lea/ z rec5t z ! ref]5ce mon? ) respect to :i* ! orig9al claim is e/abli%$1 7,b7 su* *all5ge claim %all n beg9 be=e ! orig9al claim is t]m9at$1 & 7,c7 ! ,secret>y %all e/abli% proc$ures "u :i* ! ,secret>y exp$iti\sly adjudicates su* claims on ! basis ( ! mo/ rec5t feasible ref]5ce mon?4 7#b7 ,provisions relat$ to adjudication 7,a7 ,*all5ge claim mu/ relate to at lea/ #c mon?s prospectively ,! proc$ures e/abli%$ "u p>agraph 7#a77;,c7 %all require t ! taxpay] e/abli%+ ! *all5ge claim express a reasonable expectation & int5t t su* taxpay] w\ld be all[$ a mon?ly specifi$ *ild all[ance "u section #bd;,a7b7 7det]m9$ )\t reg>d to section #bd;,a7c77#g77 = at lea/ ! fir/ #b mon?s foll[+ ! ref]5ce mon? ref]r$ to 9 p>agraph 7#a77;,c74 7,b7 ,exp$it$ process2 appeals ,! proc$ures e/abli%$ "u p>agraph 7#a77;,c7 %all include-- 7i7 an exp$it$ process = taxpay]s :o meet su* requirem5ts z ! ,secret>y may e/abli% = su* exp$it$ process1 & 7ii7 proc$ures = adjudicat+ an appeal ( an adv]se decision4 7,c7 ,in=mation receipt & coord9ation ,= purposes ( obta9+ in=mation relevant to any adjudication "u ?is p>agraph1 ! ,secret>y may ent] into agreem5ts to receive in=mation f1 & o!rwise coord9ate )-- 7i7 ,f$]al ag5cies 7includ+ ! ,social ,security ,adm9i/ration & ! ,dep>tm5t ( ,agriculture71 7ii7 any ,/ate1 local gov]nm5t1 ,tribal gov]nm5t1 or possession ( ! ,unit$ ,/ates1 & 7iii7 any o!r individual or entity t ! ,secret>y det]m9es to be appropriate = su* purposes4 7,d7 ,adjudication n treat$ z assessm5t ,any adjudication "u ?is p>agraph %all n be treat$ z an assessm5t describ$ 9 section #fbja4 7,e7 ,adjudication n treat$ z inspection ( taxpay]'s books ( acc\nt ,! inspection ( a taxpay]'s books ( acc\nt 9 connection ) any adjudication "u ?is p>agraph %all n be treat$ z an exam9ation or inspection ( a taxpay]'s books ( acc\nt = purposes ( section #gfje7;b74 7#c7 ,retroactive paym5ts relat$ to adjudication 7,a7 ,delay 9 e/abli%m5t ( *all5ge claim ,if ! *all5ge claim is e/abli%$ pursuant to ! proc$ures e/abli%$ "u p>agraph 7#a77;,c71 ! ,secret>y %all make a "o-"t paym5t to ! taxpay] ) respect to su* claim equal to ! aggregate am\nt ( increases 9 ! mon?ly advance *ild paym5ts :i* w\ld h be5 made to su* taxpay] if su* *all5ge claim _h be5 all[$ to take effect )\t reg>d to ?is subsection4 ,any paym5t "u ?is subp>agraph %all be 9 addition to any paym5t made "u subsection 7g74 7,b7 ,t]m9ation & re9/atem5t ( orig9al claim ,if1 pursuant to ! proc$ures e/abli%$ "u p>agraph 7#a77;,c71 ! orig9al claim is t]m9at$ "u subsection 7c77#a77;,b77i7 & a new p]iod ( presumptive eligibility is subsequ5tly e/abli%$ pursuant to su* proc$ures ) respect ! same taxpay] & *ild z = su* orig9al claim1 ! ,secret>y %all make a "o-"t paym5t to ! taxpay] ) respect to su* claim equal to ! aggregate am\nt ( increases 9 ! mon?ly advance *ild paym5ts :i* w\ld h be5 made to su* taxpay] if su* orig9al claim _h nev] be5 t]m9at$4 7g7 ,rules relat$ to grace p]iods & h>d%ips 7#a7 ,automatic grace p]iod 7,a7 ,9 g5]al ,if a taxpay] e/abli%es a p]iod ( presumptive eligibility ) respect to any *ild1 elects ! application ( ?is p>agraph1 & demon/rates to ! satisfaction ( ! ,secret>y t su* taxpay] w\ld be all[$ a mon?ly specifi$ *ild all[ance "u section #bd;,a7b7 7det]m9$ )\t reg>d to section #bd;,a7c77#g77 = "o or m ( ! #c mon?s imm$iately prec$+ ! fir/ mon? ( su* p]iod1 ! ,secret>y %all make a "o-"t paym5t to ! taxpay] equal to ! aggregate am\nt ( increases 9 ! mon?ly advance *ild paym5ts :i* w\ld h be5 made to su* taxpay] if su* mon?s 7 "p ( su* p]iod4 ,! prec$+ s5t5ce %all n apply to ! ext5t t ! ,secret>y det]m9es t ! failure to e/abli% ! p]iod ( presumptive eligibility ) respect to su* *ild = any su* mon? 0 due to fraud or reckless or int5tional disreg>d ( rules & regulations4 7,b7 ,limitation ,subp>agraph 7,a7 %all n apply ) respect to any taxpay] m ?an once dur+ any #cf-mon? p]iod4 7#b7 ,h>d%ip ,if a taxpay] e/abli%es a p]iod ( presumptive eligibility ) respect to any *ild1 elects ! application ( ?is p>agraph 7& does n elect ! application ( p>agraph 7#a7 ) respect to ! e/abli%m5t ( su* p]iod71 demon/rates to ! satisfaction ( ! ,secret>y t su* taxpay] w\ld be all[$ a mon?ly specifi$ *ild all[ance "u section #bd;,a7b7 7det]m9$ )\t reg>d to section #bd;,a7c77#g77 = "o or m ( ! #f mon?s imm$iately prec$+ ! fir/ mon? ( su* p]iod1 & ! ,secret>y det]m9es t ! failure to e/abli% ! p]iod ( presumptive eligibility ) respect to su* *ild = su* mon?s 0 due to dome/ic viol5ce1 s]i\s illness1 natural disa/]1 or any o!r h>d%ip1 ! ,secret>y %all make a "o-"t paym5t to ! taxpay] equal to ! aggregate am\nt ( increases 9 ! mon?ly advance *ild paym5ts :i* w\ld h be5 made to su* taxpay] if su* mon?s 7 "p ( su* p]iod4 7#c7 ,coord9ation ) retroactive paym5t = delay 9 e/abli%m5t ( *all5ge claim ,= purposes ( apply+ p>agraph 7#a7 or 7#b7 ) respect to any *all5ge claim to :i* subsection 7f77#c77;,a7 applies1 ! p]iod ( presumptive eligibility %all be treat$ z includ+ ! p]iod = :i* paym5t is made "u su* subsection4 7h7 ,provisions relat$ to =m1 mann]1 & treatm5t ( paym5ts 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 ,deliv]y ( paym5ts ,not)/&+ any o!r provision ( law1 ! ,secret>y may c]tify & disburse refunds payable "u ?is section electronically to-- 7,a7 any acc\nt to :i* ! payee au?oriz$1 on or aft] ,janu>y #a1 #bjbd1 ! deliv]y ( a refund ( taxes "u ?is title or ( a ,f$]al paym5t 7z def9$ 9 section #cccb ( title #ca1 ,unit$ ,/ates ,code71 7,b7 any acc\nt belong+ to a payee f :i* t individual1 on or aft] ,janu>y #a1 #bjbd1 made a paym5t ( taxes "u ?is title1 or 7,c7 any ,treasury-sponsor$ acc\nt 7z def9$ 9 section #bjh4b ( title #ca1 ,code ( ,f$]al ,regulations74 7#c7 ,waiv] ( c]ta9 rules ,not)/&+ section #ccbe ( title #ca1 ,unit$ ,/ates ,code1 or any o!r provision ( law1 ) respect to any paym5t ( a refund "u ?is section1 a disburs+ (ficial 9 ! executive bran* ( ! ,unit$ ,/ates ,gov]nm5t may modify paym5t in=mation receiv$ f an (fic] or employee describ$ 9 section #ccbe7;a77#a77;,b7 ( su* title = ! purpose ( facilitat+ ! accurate & effici5t deliv]y ( su* paym5t4 ,except 9 cases ( fraud or reckless neglect1 no liability "u sections #ccbe1 #cebg1 #cebh1 or #cebi ( title #ca1 ,unit$ ,/ates ,code1 %all be impos$ ) respect to paym5ts made "u ?is p>agraph4 7#d7 ,exception f r$uction or (fset ,any applicable paym5t 7z def9$ 9 p>agraph 7#e77;,e77iii77 %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$uction or (fset pursuant to subsection 7c71 7d71 7e71 or 7f7 ( section #fdjb1 or 7,c7 r$uc$ or (fset by o!r assess$ ,f$]al taxes t w\ld o!rwise be subject to levy or collection4 7#e7 ,assignm5t ( b5efits 7,a7 ,9 g5]al ,! "r ( any p]son to any applicable paym5t %all n be transf]able or assignable1 at law or 9 equity1 & no applicable paym5t %all be subject to1 execution1 levy1 atta*m5t1 g>ni%m5t1 or o!r legal process1 or ! op]ation ( any bankruptcy or insolv5cy law4 7,b7 ,encod+ ( paym5ts ,9 ! case ( an applicable paym5t describ$ 9 subp>agraph 7,e77iii77,i7 t is paid electronically by direct deposit ?r\gh ! ,automat$ ,cle>+ ,h\se 7,,a*7 network1 ! ,secret>y ( ! ,treasury 7or ! ,secret>y's delegate7 %all-- 7i7 issue ! paym5t us+ a unique id5tifi] t is reasonably suffici5t to all[ a f9ancial in/itution to id5tify ! paym5t z an applicable paym5t1 & 7ii7 fur!r encode ! paym5t pursuant to ! same specifications z requir$ = a b5efit paym5t def9$ 9 section #bab4c ( title #ca1 ,code ( ,f$]al ,regulations4 7,c7 ,g>ni%m5t 7i7 ,encod$ paym5ts ,9 ! case ( a g>ni%m5t ord] t applies to an acc\nt t has receiv$ an applicable paym5t t is encod$ z provid$ 9 subp>agraph 7,b71 a f9ancial in/itution %all foll[ ! requirem5ts & proc$ures set =? 9 "p #bab ( title #ca1 ,code ( ,f$]al ,regulations1 except-- 7,i7 not)/&+ section #bab4d ( title #ca1 ,code ( ,f$]al ,regulations 7& except z provid$ 9 subclause 7,,ii771 a f9ancial in/itution %all n fail to foll[ ! proc$ures ( sections #bab4e & #bab4f ( su* title ) respect to a g>ni%m5t ord] m]ely because su* ord] has atta*$1 or includes1 a notice ( "r to g>ni% ,f$]al b5efits issu$ by a ,/ate *ild support en=cem5t ag5cy1 & 7,,ii7 a f9ancial in/itution %all n1 ) reg>d to any applicable paym5t1 be requir$ to provide ! notice ref]5c$ 9 sections #bab4f & #bab4g ( title #ca1 ,code ( ,f$]al ,regulations4 7ii7 ,o!r paym5ts ,9 ! case ( a g>ni%m5t ord] 7o!r ?an an ord] t has be5 s]v$ by ! ,unit$ ,/ates7 t has be5 receiv$ by a f9ancial in/itution & t applies to an acc\nt into :i* an applicable paym5t t has n be5 encod$ z provid$ 9 subp>agraph 7,b7 has be5 deposit$ electronically on any date dur+ ! lookback p]iod or into :i* an applicable paym5t t has be5 deposit$ by *eck on any date 9 ! lookback p]iod1 ! f9ancial in/itution1 ^u ! reque/ ( ! acc\nt hold]1 %all treat ! am\nt ( ! funds 9 ! acc\nt at ! "t ( ! reque/1 up to ! am\nt ( ! applicable paym5t 79 addition to any am\nts o!rwise protect$ "u "p #bab ( title #ca1 ,code ( ,f$]al ,regulations71 z exempt f a g>ni%m5t ord] )\t requir+ ! cons5t ( ! p>ty s]v+ ! g>ni%m5t ord] or ! judgm5t cr$itor4 7iii7 ,liability ,a f9ancial in/itution t acts 9 good fai? 9 reliance on clauses 7i7 or 7ii7 %all n be subject to liability or regulatory action "u any ,f$]al or ,/ate law1 regulation1 c\rt or o!r ord]1 or regulatory int]pretation = actions conc]n+ any applicable paym5ts4 7,d7 ,no reclamation rights ,?is p>agraph %all n alt] ! /atus ( applicable paym5ts z tax refunds or o!r nonb5efit paym5ts = purpose ( any reclamation rights ( ! ,dep>tm5t ( ! ,treasury or ! ,int]nal ,rev5ue ,s]vice z p] "p #baj ( title #ca1 ,code ( ,f$]al ,regulations4 7,e7 ,def9itions ,= purposes ( ?is p>agraph-- 7i7 ,acc\nt hold] ,! t]m acc\nt hold] means a natural p]son ^: "n appe>s 9 a f9ancial in/itution's records z ! direct or b5eficial own] ( an acc\nt4 7ii7 ,acc\nt review ,! t]m acc\nt review means ! process ( exam9+ deposits 9 an acc\nt to det]m9e if an applicable paym5t has be5 deposit$ into ! acc\nt dur+ ! lookback p]iod4 ,! f9ancial in/itution %all p]=m ! acc\nt review foll[+ ! proc$ures outl9$ 9 section #bab4e ( title #ca1 ,code ( ,f$]al ,regulations & 9 accordance ) ! requirem5ts ( section #bab4f ( title #ca1 ,code ( ,f$]al ,regulations4 7iii7 ,applicable paym5t ,! t]m applicable paym5t means-- 7,i7 any paym5t made to an individual "u ?is section 7o!r ?an any paym5t made pursuant to p>agraph 7#f771 7,,ii7 any advance paym5t made by a possession ( ! ,unit$ ,/ates ) a mirror code tax sy/em 7z def9$ 9 section #bd7;h77 pursuant to an election "u p>agraph 7#f77;,b7 :i* corresponds to a paym5t describ$ 9 subclause 7,i71 & 7,,iii7 any advance paym5t made by ,am]ican ,samoa pursuant to a program = mak+ su* paym5ts :i* is describ$ 9 p>agraph 7#f77;,c77ii74 7iv7 ,g>ni%m5t ,! t]m g>ni%m5t means execution1 levy1 atta*m5t1 g>ni%m5t1 or o!r legal process4 7v7 ,g>ni%m5t ord] ,! t]m g>ni%m5t ord] means a writ1 ord]1 notice1 summons1 judgm5t1 levy1 or simil> writt5 in/ruction issu$ by a c\rt1 a ,/ate or ,/ate ag5cy1 a municipality or municipal corporation1 or a ,/ate *ild support en=cem5t ag5cy1 includ+ a li5 aris+ by op]ation ( law = ov]due *ild support or an ord] to freeze ! assets 9 an acc\nt1 to effect a g>ni%m5t aga9/ a debtor4 7vi7 ,lookback p]iod ,! t]m lookback p]iod means ! two-mon? p]iod t beg9s on ! date prec$+ ! date ( acc\nt review & ends on ! correspond+ date ( ! mon? two mon?s e>li]1 or on ! la/ date ( ! mon? two mon?s e>li] if ! correspond+ date does n exi/4 7#f7 ,application ( advance paym5ts 9 ! possessions ( ! unit$ /ates 7,a7 ,pu]to ,rico 7i7 ,= application ( *ild tax cr$it to resid5ts ( ,pu]to ,rico1 see section #bd;,a7d74 7ii7 ,= application ( mon?ly advance *ild paym5ts to resid5ts ( ,pu]to ,rico1 see subsection 7b77#d74 7,b7 ,mirror code possessions ,9 ! case ( any possession ( ! ,unit$ ,/ates ) a mirror code tax sy/em 7z def9$ 9 section #bd;,a7h77#a77;,c771 ?is section %all n be treat$ z "p ( ! income tax laws ( ! ,unit$ ,/ates = purposes ( det]m9+ ! income tax law ( su* possession unless su* possession elects to h ?is section be s treat$4 7,c7 ,adm9i/rative exp5ses ( advance paym5ts 7i7 ,mirror code possessions ,9 ! case ( any possession describ$ 9 subp>agraph 7,b7 :i* makes ! election describ$ 9 su* subp>agraph1 ! am\nt o!rwise paid by ! ,secret>y to su* possession "u section #bd;,a7h77#a77;,a7 ) respect to taxable ye>s beg9n+ 9 #bjbe1 #bjbf1 & #bjbg %all ea* be increas$ by #cjj1jjj if su* possession has a plan1 :i* has be5 approv$ by ! ,secret>y1 = mak+ mon?ly advance *ild paym5ts consi/5t ) su* election4 7ii7 ,am]ican ,samoa ,! am\nt o!rwise paid by ! ,secret>y to ,am]ican ,samoa "u subp>agraph 7,a7 ( section #bd;,a7h77#c7 ) respect to taxable ye>s beg9n+ 9 #bjbd1 #bjbe1 & #bjbf %all ea* be increas$ by #cjj1jjj if ! plan describ$ 9 subp>agraph 7,b7 ( su* section includes a program1 :i* has be5 approv$ by ! ,secret>y1 = mak+ mon?ly advance *ild paym5ts "u rules simil> to ! rules ( ?is section4 7iii7 ,tim+ ( paym5t ,! ,secret>y may pay1 ^u ! reque/ ( ! possession ( ! ,unit$ ,/ates to :i* ! paym5t is to be made1 ! am\nt ( ! increase det]m9$ "u clause 7i7 or 7ii71 respectively1 imm$iately ^u approval ( ! plan ) respect to :i* su* paym5t relates4 7i7 ,application ( c]ta9 def9itions & rules applicable to *ild tax cr$it 7#a7 ,def9itions ,except z o!rwise provid$ 9 ?is section1 t]ms us$ 9 ?is section :i* are also us$ 9 section #bd;,a %all h ! same respective mean+s z :5 us$ 9 section #bd;,a4 7#b7 ,treatm5t ( c]ta9 dea?s ,a *ild %all n be tak5 into acc\nt 9 det]m9+ ! mon?ly advance *ild paym5t = any cal5d> mon? if ! dea? ( su* *ild be=e ! end ( su* mon? is kn[n to ! ,secret>y z ( date on :i* ! ,secret>y e/imates su* paym5t4 7#c7 ,id5tification requirem5ts ,rules simil> to ! rules :i* apply "u section #bd;,a7e7 %all apply = purposes ( ?is section except t su* rules %all apply ) respect to ! return ( tax = ! ref]5ce taxable ye> or1 9 ! case ( in=mation provid$ ?r\gh ! on-l9e portal or o!rwise1 ) respect to ! in=mation s provid$4 7#d7 ,re/rictions on taxpay]s :o improp]ly claim$ cr$it or receiv$ mon?ly advance *ild paym5ts ,= re/rictions on taxpay]s :o improp]ly claim$ cr$it or receiv$ mon?ly advance *ild paym5ts1 see section #bd;,a7f74 7j7 ,notice ( paym5ts 7#a7 ,9 g5]al ,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-- 7,a7 ! taxpay]'s taxpay] id5tity 7z def9$ 9 section #fajc7;b77#f771 7,b7 ! aggregate am\nt ( su* paym5ts made to su* taxpay] dur+ su* cal5d> ye>1 & 7,c7 su* o!r in=mation z ! ,secret>y det]m9es appropriate4 7#b7 ,c]ta9 paym5ts subject to treatm5t z excess advance paym5ts ,9 ! case ( any paym5ts made to a taxpay] :i* ! ,secret>y has det]m9$ are subject to treatm5t z excess advance paym5ts1 ! notice provid$ "u p>agraph 7#a7 to su* taxpay] %all include ! am\nt ( su* paym5ts4 7k7 ,notification ( c]ta9 ev5ts ,) respect to any taxpay] receiv+ mon?ly advance *ild paym5ts "u ?is section ) respect to any specifi$ *ild1 ! ,secret>y %all1 to ! maximum ext5t practicable1 provide reasonable advance notice ( ea* ( ! foll[+3 7#a7 ,any mon? ) respect to :i* su* mon?ly advance *ild paym5t w increase 7relative to ! prec$+ mon?7 by reason ( an inflation adju/m5t "u section #bd;,a7b77#c77;,a74 7#b7 ,any mon? ) respect to :i* su* mon?ly advance *ild paym5t w be r$uc$ 7relative to ! prec$+ mon?7 by reason ( su* *ild ceas+ to be a specifi$ *ild by reason ( atta9+ age #ah4 7#c7 ,9 ! case ( a taxpay] ) a specifi$ *ild describ$ 9 section #bd;,a7b77#a77;,a71 any mon? ) respect to :i* su* mon?ly advance *ild paym5t w be r$uc$ by reason ( su* *ild atta9+ age #f4 7#d7 ,su* o!r ev5ts z ! ,secret>y det]m9es appropriate4 7l7 ,regulations ,! ,secret>y %all issue su* regulations or o!r guidance z ! ,secret>y det]m9es necess>y or appropriate to c>ry out ! purposes ( ?is section4 4 7c7 ,t]m9ation ( annual *ild tax cr$it ,section #bd is am5d$ by add+ at ! end ! foll[+ new subsection3 7l7 ,t]m9ation ,?is section %all n apply to 7& no paym5t %all be made "u subsection 7k7 ) respect to7 any taxable ye> beg9n+ aft] ,decemb] #ca1 #bjbe4 4 7d7 ,disclosure ( in=mation relat+ to advance paym5t ( *ild tax cr$it ,section #fajc7;e7 is am5d$ by add+ at ! end ! foll[+ new p>agraph3 7#ab7 ,disclosure ( in=mation relat+ to advance paym5t ( *ild tax cr$it 7,a7 ,jo9t fil]s ,9 ! case ( any individual :o is eligible = mon?ly advance *ild paym5ts "u section #gebg;,a1 if ! ref]5ce taxable ye> 7z def9$ 9 section #gebg;,a7d77#b77 t ! ,secret>y uses to calculate su* paym5ts is a ye> = :i* ! individual fil$ an income tax return jo9tly ) ano!r individual1 ! ,secret>y may disclose to su* individual any in=mation :i* is relevant 9 det]m9+ ! mon?ly advance *ild paym5t "u section #gebg;,a1 & ! individual's eligibility = su* paym5t1 includ+ in=mation reg>d+ any ( ! foll[+3 7i7 ,! numb] ( specifi$ *ildr51 includ+ by reason ( ! bir? ( a *ild4 7ii7 ,! "n & ,,t9 ( specifi$ *ildr54 7iii7 ,m>ital /atus4 7iv7 ,modifi$ adju/$ gross income4 7v7 ,pr9cipal place ( abode4 7vi7 ,su* o!r in=mation z ! ,secret>y may provide4 7,b7 ,compet+ claimants ,9 ! case ( any adjudication "u section #gebg;,a7f71 ! ,secret>y may disclose return in=mation provid$ by ! individual ) ! orig9al claim to ! individual ) ! *all5ge claim1 return in=mation provid$ by ! individual ) ! *all5ge claim to ! individual ) ! orig9al claim1 & any o!r in=mation consid]$ by ! ,secret>y 9 su* adjudication to ei!r or bo? su* individuals4 ,su* in=mation %all be limit$ to ! items specifi$ 9 subp>agraph 7,a7 & ! foll[+3 7i7 ,in=mation receiv$ "u any agreem5ts or coord9ation ! ,secret>y ent]$ into )-- 7,i7 any ,/ate1 local gov]nm5t1 ,tribal gov]nm5t1 or possession ( ! ,unit$ ,/ates1 or 7,,ii7 any o!r individual or entity t ! ,secret>y det]m9es to be appropriate = purposes ( adjudicat+ claims "u section #gebg;,a7f74 7ii7 ,in=mation consid]$ by ! ,secret>y ab\t :]e & ) :om ! specifi$ *ild resid$4 7iii7 ,in=mation consid]$ by ! ,secret>y ab\t exp5ditures made by ! claimants to ! ext5t su* paym5ts relate to ! orig9al or *all5ge claim4 4 7e7 ,con=m+ am5dm5ts 7#a7 ,section #bf7;b77#b7 is am5d$ by /rik+ & at ! end ( subp>agraph 7,y71 by /rik+ ! p]iod at ! end ( subp>agraph 7,z7 & ins]t+ 1 &1 & by add+ at ! end ! foll[+ new subp>agraph3 7,,aa7 section #bd;,a7g77#b7 7relat+ to increase 9 tax equal to excess advance paym5ts 9 c]ta9 circum/ances74 4 7#b7 ,section #aeb7;f77#f77;,b77ii7 is am5d$ to read z foll[s3 7ii7 ! cr$its "u sections #bd1 #bd;,a1 & #bd;,b & ! paym5ts "u sections #gebg;,a1 4 7#c7 ,section #cdjb7;f77#a77;,c7 is am5d$ by ins]t+ or section #bd;,a 7det]m9$ aft] application ( subsection 7g7 !re(7 aft] section #bd 7det]m9$ aft] application ( subsection 7j7 !re(74 7#d7 ,section #fajc7l77#ac77;,a77v7 is am5d$ by ins]t+ or section #bd;,a1 z ! case may be aft] section #bd4 7#e7 ,section #fbaa7;b77#d77;,a7 is am5d$ by ins]t+ #bd;,a by reason ( subsection 7d7 !re(1 aft] #bd by reason ( subsections 7d7 & 7i77#a7 !re(14 7#f7 ,section #fbac7;g77#b77;,i7 is am5d$ by ins]t+ or section #bd;,a7e7 7relat+ to mon?ly *ild tax cr$it7 aft] section #bd7;e7 7relat+ to *ild tax cr$it74 7#g7 ,section #fbac7;g77#b77,l7 is am5d$ by ins]t+ #bd;,a1 aft] #bd14 7#h7 ,section #fbac7;g77#b77,p7 is am5d$-- 7,a7 by ins]t+ or #bd;,a7f77#b7 aft] section #bd7;g77#b71 7,b7 by ins]t+ or #bd;,a aft] "u section #bd1 & 7,c7 by /rik+ subsection 7g77#a7 !re( & ins]t+ section #bd7;g77#a7 or section #bd;,a7f77#a71 respectively4 7#i7 ,section #ffie7;g77#b7 is am5d$ by ins]t+ #bd;,a1 aft] #bd14 7#aj7 ,p>agraph 7#b7 ( section #acbd7;b7 ( title #ca1 ,unit$ ,/ates ,code1 is am5d$ by ins]t+ #bd;,a1 aft] #bd14 7#aa7 ,! table ( sections = subp>t ,a ( "p ,,iv ( sub*apt] ,a ( *apt] #a is am5d$ by ins]t+ aft] ! item relat+ to section #bd ! foll[+ new items3 ,sec4 #bd;,a4 ,mon?ly *ild tax cr$it4,sec4 #bd;,b4 ,cr$it = c]ta9 o!r dep5d5ts4 4 7#ab7 ,! table ( sections = *apt] #gg is am5d$ by /rik+ ! item relat+ to section #gebg;,a & ins]t+ ! foll[+ new item3 ,sec4 #gebg;,a4 ,mon?ly paym5ts ( *ild tax cr$it4 4 7f7 ,effective dates 7#a7 ,9 g5]al ,except z o!rwise provid$ 9 ?is subsection1 ! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbe4 7#b7 ,mon?ly advance *ild paym5ts ,! am5dm5ts made by subsection 7b7 %all apply to-- 7,a7 cal5d> mon?s beg9n+ aft] ! date ( ! enactm5t ( ?is ,act1 & 7,b7 9 ! case ( section #gebg;,a7g7 ( ! ,int]nal ,rev5ue ,code ( #aihf 7relat+ to grace p]iods & h>d%ips71 cal5d> mon?s beg9n+ aft] ,decemb] #ca1 #bjbe4 7#c7 ,in=mation disclosure ,! am5dm5t made by subsection 7d7 %all take effect on ! date ( ! enactm5t ( ?is ,act4 ,b ,*ild & dep5d5t c>e #cbjja4 ,enhancem5t ( ,*ild & ,dep5d5t ,c>e ,tax ,cr$it 7a7 ,9 g5]al ,p>agraph 7#b7 ( section #ba7;a7 is am5d$ to read z foll[s3 7#b7 ,applicable p]c5tage 7,a7 ,9 g5]al ,= purposes ( p>agraph 7#a71 ! t]m applicable p]c5tage means #ej p]c5t r$uc$ 7b n bel[ ! phase\t p]c5tage7 by #a p]c5tage po9t = ea* #b1jjj 7or fraction !re(7 by :i* ! taxpay]'s adju/$ gross income = ! taxable ye> exce$s #abe1jjj4 7,b7 ,phase\t p]c5tage ,= purposes ( subp>agraph 7,a71 ! t]m phase\t p]c5tage means #bj p]c5t r$uc$ 7b n bel[ z]o7 by #a p]c5tage po9t = ea* #b1jjj 7or fraction !re(7 by :i* ! taxpay]'s adju/$ gross income = ! taxable ye> exce$s #djj1jjj4 4 7b7 ,increase 9 doll> limit on am\nt cr$itable ,subsection 7c7 ( section #ba is am5d$-- 7#a7 9 p>agraph 7#a71 by /rik+ #c1jjj & ins]t+ #h1jjj2 & 7#b7 9 p>agraph 7#b71 by /rik+ #f1jjj & ins]t+ #af1jjj4 7c7 ,special rule = m>ri$ c\ples fil+ sep>ate returns ,p>agraph 7#b7 ( section #ba7;e7 is am5d$ to read z foll[s3 7#b7 ,m>ri$ c\ples fil+ sep>ate returns 7,a7 ,9 g5]al ,9 ! case ( m>ri$ individuals :o d n file a jo9t return = ! taxable ye>-- 7i7 ! applicable p]c5tage "u subsection 7a77#b7 & ! numb] ( qualify+ individuals & aggregate am\nt excludable "u section #abi = purposes ( subsection 7c7 %all be det]m9$ ) respect to ea* su* individual z if ! individual _h fil$ a jo9t return ) ! individual's sp\se1 & 7ii7 ! aggregate am\nt ( ! cr$its all[$ "u ?is section = su* taxable ye> ) respect to bo? sp\ses %all n exce$ ! am\nt :i* w\ld h be5 all[$ "u ?is section if ! individuals _h fil$ a jo9t return4 7,b7 ,regulations ,! ,secret>y %all prescribe su* regulations or o!r guidance z is necess>y to c>ry out ! purposes ( ?is subsection4 4 7d7 ,adju/m5t = inflation ,section #ba is am5d$ by add+ at ! end ! foll[+ new subsection3 7i7 ,inflation adju/m5t 7#a7 ,9 g5]al ,9 ! case ( a cal5d> ye> beg9n+ aft] #bjbf1 ! #abe1jjj am\nt 9 p>agraph 7#b7 ( subsection 7a7 & ! doll> am\nts 9 subsection 7c7 %all ea* 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> #bjbe = cal5d> ye> #bjaf 9 subp>agraph 7,a77ii7 !re(4 7#b7 ,r\nd+ ,if any doll> am\nt1 aft] be+ increas$ "u p>agraph 7#a71 is n a multiple ( #ajj1 su* doll> am\nt %all be r\nd$ to ! next l[e/ multiple ( #ajj4 4 7e7 ,cr$it made refundable ,section #ba7;g7 is am5d$ to read z foll[s3 7g7 ,cr$it made refundable = c]ta9 individuals ,if ! taxpay] 79 ! case ( a jo9t return1 ei!r sp\se7 has a pr9cipal place ( abode 9 ! ,unit$ ,/ates 7det]m9$ z provid$ 9 section #cb7 = m ?an "o-half ( ! taxable ye>1 ! cr$it all[$ "u subsection 7a7 %all be treat$ z a cr$it all[$ "u subp>t ,c 7& n all[$ "u ?is subp>t74 4 7f7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbe4 #cbjjb4 ,increas$ maximum contribution to dep5d5t c>e assi/ance programs 7a7 ,9 g5]al ,section #abi7;a77#b77;,a7 is am5d$ by /rik+ #e1jjj 7#b1ejj & ins]t+ #aj1jjj 7#e1jjj4 7b7 ,co/-(-,liv+ adju/m5t ,section #abi is am5d$ by add+ at ! end ! foll[+ new subsection3 7f7 ,inflation adju/m5t 7#a7 ,9 g5]al ,ea* doll> am\nt 9 ?is section %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* su* taxable ye> beg9s1 det]m9$ by sub/itut+ cal5d> ye> #bjbd = cal5d> ye> #bjaf 9 subp>agraph 7,a77ii7 !re(4 7#b7 ,r\nd+ ,if any increase "u p>agraph 7#a7 is n a multiple ( #ej1 su* increase %all be r\nd$ to ! ne>e/ multiple ( #ej4 4 7c7 ,remov+ deadwood ,section #abi7;a77#b7 is am5d$ by /rik+ subp>agraph 7,d74 7d7 ,effective date ,! am5dm5ts made by ?is section %all apply to cal5d> ye>s beg9n+ aft] ,decemb] #ca1 #bjbe4 #cbjjc4 ,cr$it = work+ family c>egiv]s 7a7 ,9 g5]al ,subp>t ,a ( "p ,,iv ( sub*apt] ,a ( *apt] #a is am5d$ by ins]t+ aft] section #be;,e ! foll[+ new section3 #be;,f4 ,work+ family c>egiv]s 7a7 ,all[ance ( cr$it ,9 ! case ( an eligible c>egiv]1 !re %all be all[$ z a cr$it aga9/ ! tax impos$ by ?is *apt] = ! taxable ye> an am\nt equal to #cj p]c5t ( ! qualifi$ exp5ses paid by ! taxpay] dur+ ! taxable ye> to ! ext5t t su* exp5ses exce$ #b1jjj4 7b7 ,limitation 7#a7 ,9 g5]al ,! am\nt all[$ z a cr$it "u subsection 7a7 = ! taxable ye> %all n exce$ #e1jjj4 7#b7 ,adju/m5t = inflation ,9 ! case ( any taxable ye> beg9n+ aft] #bjbf1 ! doll> am\nt conta9$ 9 p>agraph 7#a7 %all be increas$ by an am\nt equal to ! product (-- 7,a7 su* doll> am\nt1 & 7,b7 ! m$ical c>e co/ adju/m5t det]m9$ "u section #bac7;d77#aj77;,b77ii7 = ! cal5d> ye> 9 :i* ! taxable ye> beg9s1 det]m9$ by sub/itut+ #bjbe = #aiif 9 subclause 7,,ii7 !re(4 ,if any increase det]m9$ "u ! prec$+ s5t5ce is n a multiple ( #ej1 su* increase %all be r\nd$ to ! next l[e/ multiple ( #ej4 7c7 ,eligible c>egiv] ,= purposes ( ?is section1 ! t]m eligible c>egiv] means an individual :o-- 7#a7 dur+ ! taxable ye> pays or incurs qualifi$ exp5ses 9 connection ) provid+ c>e = a qualifi$ c>e recipi5t1 & 7#b7 has e>n$ income 7z def9$ 9 section #cb7;c77#b77 = ! taxable ye> 9 excess ( #g1ejj4 7d7 ,qualifi$ c>e recipi5t ,= purposes ( ?is section-- 7#a7 ,9 g5]al ,! t]m qualifi$ c>e recipi5t means1 ) respect to any taxable ye>1 any individual :o-- 7,a7 is ! sp\se ( ! eligible c>egiv]1 or any o!r p]son :o be>s a relation%ip to ! eligible c>egiv] describ$ 9 any ( subp>agraphs 7,a7 ?r\gh 7,h7 ( section #aeb7;d77#b71 & 7,b7 has be5 c]tifi$1 be=e ! due date = fil+ ! return ( tax = ! taxable ye>1 by a lic5s$ heal? c>e practition] 7z def9$ 9 section #ggjb;,b7c77#d77 z be+ an individual ) long-t]m c>e ne$s describ$ 9 p>agraph 7#c7 = a p]iod-- 7i7 :i* is at lea/ #ahj consecutive days1 & 7ii7 a portion ( :i* occurs )9 ! taxable ye>4 7#b7 ,p]iod = mak+ c]tification ,not)/&+ p>agraph 7#a77;,b71 a c]tification %all n be treat$ z valid unless x is made )9 ! #cia_/b-mon? p]iod end+ on su* due date 7or su* o!r p]iod z ! ,secret>y prescribes74 7#c7 ,individuals ) long-t]m c>e ne$s ,an individual is describ$ 9 ?is p>agraph if ! individual meets any ( ! foll[+ requirem5ts3 7,a7 ,! individual is at lea/ #f ye>s ( age &-- 7i7 is unable to p]=m 7)\t sub/antial assi/ance f ano!r individual7 at lea/ #b activities ( daily liv+ 7z def9$ 9 section #ggjb;,b7c77#b77;,b77 due to a loss ( functional capacity1 or 7ii7 requires sub/antial sup]vision to protect su* individual f ?reats to heal? & safety due to sev]e cognitive impairm5t & is unable to p]=m1 )\t rem9d+ or cu+ assi/ance1 at lea/ #a activity ( daily liv+ 7z s def9$7 or to ! ext5t provid$ 9 regulations prescrib$ by ! ,secret>y 79 consultation ) ! ,secret>y ( ,heal? & ,human ,s]vices71 is unable to engage 9 age appropriate activities4 7,b7 ,! individual is at lea/ #b b n #f ye>s ( age & is unable due to a loss ( functional capacity to p]=m 7)\t sub/antial assi/ance f ano!r individual7 at lea/ #b ( ! foll[+ activities3 eat+1 transf]r+1 or mobility4 7,c7 ,! individual is "u #b ye>s ( age & requires specific durable m$ical equipm5t by reason ( a sev]e heal? condition or requires a skill$ practition] tra9$ to address ! individual's condition to be available if ! individual's p>5ts or gu>dians are abs5t4 7e7 ,qualifi$ exp5ses ,= purposes ( ?is section-- 7#a7 ,9 g5]al ,subject to p>agraph 7#d71 ! t]m qualifi$ exp5ses means exp5ditures = goods1 s]vices1 & supports t-- 7,a7 assi/ a qualifi$ c>e recipi5t ) accompli%+ activities ( daily liv+ 7z def9$ 9 section #ggjb;,b7c77#b77;,b77 & in/rum5tal activities ( daily liv+ 7z def9$ 9 section #aiae7k77#f77;,f7 ( ! ,social ,security ,act 7#db ,u4,s4,c4 #acifn7k77#f77;,f7771 & 7,b7 are provid$ solely = use by su* qualifi$ c>e recipi5t4 7#b7 ,adju/m5t = o!r tax b5efits ,! am\nt ( qualifi$ exp5ses o!rwise tak5 into acc\nt "u p>agraph 7#a7 ) respect to an individual %all be r$uc$ by ! sum ( any am\nts paid = ! b5efit ( su* individual = ! taxable ye> :i* are-- 7,a7 tak5 into acc\nt "u section #ba or #bac1 or 7,b7 exclud$ f gross income "u section #abi1 #bbc7;f71 or #ebi;,a7c77#a77;,b74 7#c7 ,goods1 s]vices1 & supports ,= purposes ( p>agraph 7#a71 goods1 s]vices1 & supports 7z def9$ by ! ,secret>y7 %all include-- 7,a7 human assi/ance1 sup]vision1 cu+ & /&by assi/ance1 7,b7 assi/ive te*nologies & devices 7includ+ remote heal? monitor+71 7,c7 environm5tal modifications 7includ+ home modifications71 7,d7 heal? ma9t5ance tasks 7su* z m$ication managem5t71 7,e7 in=mation1 7,f7 transportation ( ! qualifi$ c>e recipi5t1 7,g7 non-heal? items 7su* z incont95ce supplies71 & 7,h7 coord9ation ( & s]vices = p :o live 9 _! own home1 a resid5tial sett+1 or a nurs+ facility1 z well z ! co/ ( c>e 9 ^! or o!r locations4 7#d7 ,qualifi$ exp5ses = eligible c>egiv]s ,= purposes ( p>agraph 7#a71 ! foll[+ %all be treat$ z qualifi$ exp5ses if paid or incurr$ by an eligible c>egiv]3 7,a7 ,exp5ditures = respite c>e = a qualifi$ c>e recipi5t4 7,b7 ,exp5ditures = c\nsel+1 support gr\ps1 or tra9+ relat+ to c>+ = a qualifi$ c>e recipi5t4 7,c7 ,lo/ wages = unpaid "t (f due to c>+ = a qualifi$ c>e recipi5t z v]ifi$ by an employ]4 7,d7 ,travel co/s ( ! eligible c>egiv] relat$ to c>+ = a qualifi$ c>e recipi5t4 7,e7 ,exp5ditures = te*nologies1 z det]m9$ by ! ,secret>y1 t assi/ an eligible c>egiv] 9 provid+ c>e = a qualifi$ c>e recipi5t4 7#e7 ,human assi/ance ,! t]m human assi/ance includes ! co/s ( a direct c>e work]4 7#f7 ,docum5tation ,an exp5se %all n be tak5 into acc\nt "u ?is section unless ! eligible c>egiv] sub/antiates su* exp5se "u su* regulations or guidance z ! ,secret>y %all provide4 7#g7 ,mileage rate ,= purposes ( ?is section1 ! mileage rate = ! use ( a pass5g] automobile %all be ! /&>d mileage rate us$ to calculate ! d$uctible co/s ( op]at+ an automobile = m$ical purposes4 ,su* rate may be us$ 9 lieu ( actual automobile-relat$ travel exp5ses4 7#h7 ,coord9ation ) ,,able ,acc\nts ,qualifi$ exp5ses = a taxable ye> %all n include contributions to an ,,able acc\nt 7z def9$ 9 section #ebi;,a74 7f7 ,phase ,out ,bas$ on ,adju/$ ,gross ,income ,= purposes ( ?is section-- 7#a7 ,9 g5]al ,! am\nt ( ! cr$it all[able "u subsection 7a7 %all be r$uc$ 7b n bel[ z]o7 by #ajj = ea* #a1jjj 7or fraction !re(7 by :i* ! taxpay]'s modifi$ adju/$ gross income exce$s ! ?re%old am\nt4 7#b7 ,modifi$ adju/$ gross income ,! 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#c7 ,?re%old am\nt ,! t]m ?re%old am\nt means-- 7,a7 #aej1jjj 9 ! case ( a jo9t return1 & 7,b7 #ge1jjj 9 any o!r case4 7#d7 ,index+ ,9 ! case ( any taxable ye> beg9n+ 9 a cal5d> ye> aft] #bjbf1 ea* doll> am\nt conta9$ 9 p>agraph 7#c7 %all be increas$ by an am\nt equal to ! product (-- 7,a7 su* doll> am\nt1 & 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> #bjbe = cal5d> ye> #bjaf 9 subp>agraph 7,a77ii7 !re(4 7#e7 ,r\nd+ rule ,if any increase det]m9$ "u p>agraph 7#d7 is n a multiple ( #ej1 su* increase %all be r\nd$ to ! next l[e/ multiple ( #ej4 7g7 ,id5tification requirem5ts ,no cr$it %all be all[$ "u ?is section to a taxpay] ) respect to any qualifi$ c>e recipi5t unless ! taxpay] includes ! "n & taxpay] id5tification numb] ( su* individual1 & ! id5tification numb] ( ! lic5s$ heal? c>e practition] c]tify+ su* individual1 on ! return ( tax = ! taxable ye>4 4 7b7 ,cl]ical am5dm5t ,! table ( sections = subp>t ,a ( "p ,,iv ( sub*apt] ,a ( *apt] #a is am5d$ by ins]t+ aft] ! item relat+ to section #be;,e ! foll[+ new item3 ,sec4 #be;,f4 ,work+ family c>egiv]s4 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbe4 #cbjjd4 ,lic5s$ family *ild c>e cr$it 7a7 ,9 g5]al ,subp>t ,c ( "p ,,iv ( sub*apt] ,a ( *apt] #a1 z am5d$ by ! prec$+ provisions ( ?is ,act1 is am5d$ by ins]t+ aft] section #cf;,d ! foll[+ new section3 #cf;,e4 ,lic5s$ family *ild c>e cr$it 7a7 ,9 g5]al ,9 ! case ( a qualifi$ taxpay]1 !re %all be all[$ z a cr$it aga9/ ! tax impos$ by ?is subtitle = any taxable ye> an am\nt equal to s mu* ( ! qualifi$ *ild c>e />tup exp5ses ( ! taxpay] = su* taxable ye> or = ! prec$+ taxable ye> z d n exce$ #e1jjj4 7b7 ,qualifi$ taxpay] ,= purposes ( ?is section1 ! t]m qualifi$ taxpay] means1 ) respect to a taxable ye>1 a taxpay] t op]ates a qualifi$ family *ild c>e provid]4 7c7 ,qualifi$ family *ild c>e provid] ,= purposes ( ?is section1 ! t]m qualifi$ family *ild c>e provid] means a family *ild c>e provid] t1 ) respect to a taxable ye>-- 7#a7 provides *ild c>e s]vices = comp5sation t1 z ( ! la/ day ( su* taxable ye>1 is lic5s$ or regi/]$ "u ,/ate law & satisfies ,/ate & local requirem5ts applicable to ! *ild c>e s]vices x provides1 7#b7 prim>ily provides *ild c>e at ! taxpay]'s prim>y resid5ce1 & 7#c7 provid$ *ild c>e s]vices to n less ?an #b *ildr5 7exclud+ *ildr5 ( su* taxpay]7 = a significant portion ( su* taxable ye>4 7d7 ,qualifi$ *ild c>e />tup exp5ses ,= purposes ( ?is section1 ! t]m qualifi$ *ild c>e />tup exp5ses means am\nts paid or incurr$ = any ( ! foll[+ 9 ord] to e/abli% & op]ate a qualifi$ family *ild c>e provid]3 7#a7 ,*ild c>e lic5s+ fees4 7#b7 ,*ild c>e supplies includ+ diap]s1 food1 toys1 & le>n+ mat]ials4 7#c7 ,liability insurance4 7#d7 ,f5c+ & in/allation ( su* f5c+4 7#e7 ,outdoor playgr\nd equipm5t & in/allation ( su* equipm5t4 7#f7 ,furniture necess>y to provide *ild c>e4 7#g7 ,sal>y ( an employee o!r ?an ! taxpay]4 7#h7 ,pr9t] & comput]s4 7#i7 ,pr(essional tra9+ requir$ z a condition ( ,/ate lic5sure or regi/ration4 7#aj7 ,rem$iation or r5ovation ( ! taxpay]'s prim>y resid5ce requir$ z a condition ( ,/ate lic5sure or regi/ration4 7e7 ,limitations ,no cr$it %all be all[$ "u subsection 7a7 to any taxpay] to :om a cr$it 0 all[$ "u su* subsection 9 any o!r taxable ye>4 7f7 ,d5ial ( d\ble b5efit ,no cr$it %all be all[$ "u subsection 7a7 = any exp5se = :i* a d$uction or cr$it is all[$ "u any o!r provision ( ?is *apt]4 7g7 ,regulations ,! ,secret>y %all issue su* regulations or o!r guidance z may be necess>y or appropriate to c>ry out ! purposes ( ?is section1 includ+ regulations relat+ to su* in=mation report+ & coord9ation ) /ate & local lic5s+ or regi/ration entities z ! ,secret>y det]m9es appropriate4 7h7 ,sunset ,no cr$it %all be all[$ "u subsection 7a7 = any taxable ye> beg9n+ aft] ! date t is #g ye>s aft] ! date ( ! enactm5t ( ?is section4 4 7b7 ,con=m+ am5dm5ts 7#a7 ,section #fbaa7;b77#d77;,a71 z am5d$ by ! prec$+ provisions ( ?is ,act1 is am5d$ by ins]t+ #cf;,e1 aft] #cf;,d14 7#b7 ,section #acbd7;b77#b7 ( title #ca1 ,unit$ ,/ates ,code1 z am5d$ by ! prec$+ provisions ( ?is ,act1 is am5d$ by ins]t+ #cf;,e1 aft] #cf;,d14 7c7 ,cl]ical am5dm5t ,! table ( sections = subp>t ,c ( "p ,,iv ( sub*apt] ,a ( *apt] #a1 z am5d$ by ! prec$+ provisions ( ?is ,act1 is am5d$ by ins]t+ aft] ! item relat+ to section #cf;,b ! foll[+ new item3 ,sec4 #cf;,e4 ,lic5s$ family *ild c>e cr$it4 4 7d7 ,effective date ,! am5dm5ts made by ?is section %all apply to am\nts paid or incurr$ aft] ! date ( ! enactm5t ( ?is ,act4 ,c ,ensur+ af=dable adoptions #ccjja4 ,refundable adoption tax cr$it 7a7 ,cr$it made refundable 7#a7 ,cr$it mov$ to subp>t relat+ to refundable cr$its ,! ,int]nal ,rev5ue ,code ( #aihf1 z am5d$ by ! prec$+ provisions ( ?is ,act1 is am5d$-- 7,a7 by r$esignat+ section #bc z section #cf;,f1 & 7,b7 by mov+ section #cf;,f 7z s r$esignat$7 f subp>t ,a ( "p ,,iv ( sub*apt] ,a ( *apt] #a to ! location imm$iately be=e section #cg 9 subp>t ,c ( "p ,,iv ( sub*apt] ,a ( *apt] #a4 7#b7 ,con=m+ ,am5dm5ts 7,a7 ,section #be7;e77#a77;,c7 is am5d$ by /rik+ sections #bc & #be;,d & ins]t+ section #be;,d4 7,b7 ,section #cf;,e1 z s r$esignat$1 is am5d$-- 7i7 9 subsection 7b77#b77;,a71 by /rik+ 7det]m9$ )\t reg>d to subsection 7c771 7ii7 by /rik+ subsection 7c71 & 7iii7 by r$esignat+ subsections 7d7 ?r\gh 7i7 z subsections 7c7 ?r\gh 7h71 respectively4 7,c7 ,section #acg is am5d$-- 7i7 9 subsection 7d71 by /rik+ section #bc7;d7 & ins]t+ section #cf;,f7c71 & 7ii7 9 subsection 7e71 by /rik+ subsections 7e71 7f71 & 7g7 ( section #bc & ins]t+ subsections 7d71 7e71 & 7f7 ( section #cf;,f4 7,d7 ,section #ajaf7;a77#bf7 is am5d$ by /rik+ #bc7;g7 & ins]t+ #cf;,f7f74 7,e7 ,section #fbaa7;b77#d77;,a71 z am5d$ by ! prec$+ provisions ( ?is ,act1 is am5d$ by ins]t+ #cf;,f1 aft] #cf;,e14 7,f7 ,! table ( sections = subp>t ,a ( "p ,,iv ( sub*apt] ,a ( *apt] #a is am5d$ by /rik+ ! item relat+ to section #bc4 7,g7 ,p>agraph 7#b7 ( section #acbd7;b7 ( title #ca1 ,unit$ ,/ates ,code1 z am5d$ by ! prec$+ provisions ( ?is ,act1 is am5d$ by ins]t+ #cf;,f1 aft] #cf;,e14 7,h7 ,p>agraph 7#cc7 ( section #dga7;a7 ( ! ,social ,security ,act 7#db ,u4,s4,c4 #fga7;a77 is am5d$ by /rik+ section #bc & ins]t+ section #cf;,f4 7,i7 ,! table ( sections = subp>t ,c ( "p ,,iv ( sub*apt] ,a ( *apt] #a1 z am5d$ by ! prec$+ provisions ( ?is ,act1 is am5d$ by ins]t+ aft] ! item relat+ to section #cf;,e ! foll[+ new item3 ,sec4 #cf;,f4 ,adoption exp5ses44 7b7 ,?ird-,p>ty affidavits ,section #cf;,f7h71 z r$esignat$ & mov$ by subsection 7a71 is am5d$-- 7#a7 by /rik+ su* regulations & ins]t+ su* regulations & guidance1 7#b7 by /rik+ includ+ regulations :i* treat & ins]t+ includ+ regulations & guidance :i*-- 7#a7 treat 1 7#c7 by /rik+ ! p]iod at ! end & ins]t+ 1 &1 & 7#d7 by add+ at ! end ! foll[+3 7#b7 provide = a /&>diz$ ?ird-p>ty affidavit = purposes ( v]ify+ a legal adoption-- 7,a7 ( a type ) respect to :i* qualifi$ adoption exp5ses may be paid or incurr$1 or 7,b7 involv+ a *ild ) special ne$s = purposes ( subsection 7a77#c74 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbe4 7d7 ,transitional rule ,to treat c>ry=w>d z refundable cr$it ,9 ! case ( any excess describ$ 9 section #bc7;c7 ( ! ,int]nal ,rev5ue ,code ( #aihf ) respect to any taxpay] = ! taxable ye> :i* prec$es ! fir/ taxable ye> to :i* ! am5dm5ts made by ?is section apply1 su* excess %all be add$ to ! cr$it all[able "u section #cf;,f7a7 ( su* ,code ) respect to su* taxpay] = su* fir/ taxable ye>4 ,,iv ,education & work=ce tra9+ ,a ,ensur+ af=dable high] education #dajja4 ,am]ican opportunity cr$it exp&$ to #f ye>s1 made tempor>ily fully refundable 7a7 ,9 g5]al ,section #be;,a7i7 is am5d$-- 7#a7 9 subsection 7b77#b7-- 7,a7 9 subp>agraph 7,a7-- 7i7 9 ! head+1 by /rik+ #d taxable ye>s & ins]t+ #f taxable ye>s1 & 7ii7 by /rik+ #d prior taxable ye>s & ins]t+ #f taxable ye>s1 & 7,b7 9 subp>agraph 7,c7-- 7i7 9 ! head+1 by /rik+ fir/ #d ye>s & ins]t+ fir/ #f ye>s1 & 7ii7 by /rik+ ! fir/ #d ye>s & ins]t+ ! fir/ #f ye>s1 & 7#b7 by r$esignat+ subsection 7j7 z subsection 7k7 & by ins]t+ aft] subsection 7i7 ! foll[+3 7j7 ,am]ican ,opportunity ,tax ,cr$it made fully refundable = #bjbf ,9 ! case ( a taxable ye> beg9n+ aft] ,decemb] #ca1 #bjbe1 & be=e ,janu>y #a1 #bjbg1 subsection 7i7 %all be appli$ by sub/itut+ #ajj p]c5t = =ty p]c5t4 4 7b7 ,effective date ,! am5dm5ts made by subsection 7a7 %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbe4 7c7 ,outrea* campaign 7#a7 ,9 g5]al ,! ,secret>y ( ! ,treasury 7or ! ,secret>y's delegate7 %all conduct an outrea* campaign to-- 7,a7 provide in=mation to ! public reg>d+ ! expansion ( ! ,am]ican ,opportunity ,cr$it "u section #be;,a ( ! ,int]nal ,rev5ue ,code ( #aihf1 z am5d$ by ?is ,act1 & 7,b7 assi/ individuals ) claim+ su* cr$it4 7#b7 ,me?ods ,) respect to ! outrea* campaign describ$ 9 p>agraph 7a71 ! ,secret>y %all-- 7,a7 provide relevant in=mation on ! public website ( ! ,int]nal ,rev5ue ,s]vice1 & 7,b7 s5d communications via direct mail+ & electronic mail to individuals :o h be5 id5tifi$ z eligible = su* cr$it = ! taxable ye>4 #dajjb4 ,expansion ( ,pell ,grant exclusion f gross income 7a7 ,9 g5]al ,section #aag7;b77#a7 is am5d$ by /rik+ receiv$ by an individual & all t foll[s & ins]t+ receiv$ by an individual-- 7,a7 z a s*ol>%ip or fell[%ip grant to ! ext5t ! individual e/abli%es t1 9 accordance ) ! conditions ( ! grant1 su* am\nt 0 us$ = qualifi$ tuition & relat$ exp5ses1 or 7,b7 z a ,f$]al ,pell ,grant "u section #dja ( ! ,high] ,education ,act ( #aife 7z 9 effect on ! date ( ! enactm5t ( ?is subp>agraph74 4 7b7 ,no adju/m5t "u ,am]ican ,opportunity & ,lifetime ,le>n+ ,cr$its ,section #be;,a7g77#b77;,a7 is am5d$ by /rik+ a qualifi$ s*ol>%ip :i* & ins]t+ a qualifi$ s*ol>%ip :i* is describ$ 9 section #aag7;b77#a77;,a7 & :i*4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbe4 #dajjc4 ,expansion ( ,am]ican ,opportunity & ,lifetime ,le>n+ ,cr$its 7a7 ,9 g5]al ,section #be;,a is am5d$-- 7#a7 9 subsection 7f77#a7-- 7,a7 9 subp>agraph 7,a71 by /rik+ tuition & fees & ins]t+ tuition1 fees1 comput] or p]iph]al equipm5t1 *ild & dep5d5t c>e exp5ses1 & c\rse mat]ials1 7,b7 by /rik+ subp>agraph 7,d71 & 7,c7 by add+ at ! end ! foll[+ new subp>agraphs3 7,d7 ,*ild & dep5d5t c>e exp5ses ,= purposes ( ?is p>agraph-- 7i7 ,9 g5]al ,! t]m *ild & dep5d5t c>e exp5ses means am\nts paid = ! foll[+ exp5ses1 b only if su* exp5ses are incurr$ to enable ! taxpay] to be enroll$ 9 an eligible educational in/itution = any p]iod = :i* !re are #a or m qualify+ individuals ) respect to ! taxpay]3 7,i7 exp5ses = h\sehold s]vices1 & 7,,ii7 exp5ses = ! c>e ( a qualify+ individual4 ,su* t]m %all n include any am\nt paid = s]vices outside ! taxpay]'s h\sehold at a camp :]e ! qualify+ individual /ays ov]night4 7ii7 ,qualify+ individual ,! t]m qualify+ individual has ! mean+ giv5 su* t]m 9 section #ba7;b77#a74 7iii7 ,exception1 dep5d5t c>e c5t]s ,rules simil> to ! rules ( subp>agraphs 7,b71 7,c71 & 7,d7 ( section #ba7;b77#b7 %all apply1 except ! t]m *ild & dep5d5t c>e exp5ses %all be sub/itut$ = ! t]m employm5t-relat$ exp5ses ea* place x appe>s 9 su* subp>agraphs4 7,e7 ,*ild & dep5d5t c>e exp5ses only qualifi$ exp5ses :5 claim$ by eligible /ud5t ,am\nts paid = an exp5se describ$ 9 subp>agraph 7,e7 may n be tak5 into acc\nt "u ?is p>agraph = a taxable ye> unless requir$ = ! enrollm5t or att5dance ( an individual describ$ 9 subp>agraph 7,a77i7 or subp>agraph 7,a77ii74 7,f7 ,comput] or p]iph]al equipm5t 7i7 ,def9$ ,= purposes ( ?is p>agraph1 ! t]m comput] or p]iph]al equipm5t means exp5ses = ! pur*ase ( comput] or p]iph]al equipm5t 7z def9$ 9 section #afh7;i77#b77;,b71 comput] s(tw>e 7z def9$ 9 section #aig7;e77#c77;,b7771 or int]net access & relat$ s]vices1 if su* equipm5t1 s(tw>e1 or s]vices are to be us$ prim>ily by ! individual dur+ any ( ! ye>s ! individual is enroll$ at an eligible educational in/itution4 7ii7 ,doll> limit on am\nt cr$itable ,! aggregate ( ! am\nts paid or exp5ses incurr$ = comput] or p]iph]al equipm5t :i* may be tak5 into acc\nt "u ?is p>agraph = a taxable ye> by ! taxpay] %all n exce$ #a1jjj4 1 & 7#b7 9 subsection 7g77#e7-- 7,a7 9 ! head+1 by add+ or cr$it at ! end1 & 7,b7 by ins]t+ or cr$it aft] a d$uction4 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbe4 #dajjd4 ,elim9ation ( d5ial ( ,am]ican ,opportunity ,tax ,cr$it = /ud5ts convict$ ( a felony drug (f5se 7a7 ,9 g5]al ,section #be;,a7b77#b7 is am5d$ by /rik+ subp>agraph 7,d74 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbe4 #dajje4 ,modification ( treatm5t ( /ud5t loan =giv5ess 7a7 ,9 g5]al ,section #ajh7;f7 is am5d$-- 7#a7 by am5d+ p>agraph 7#a7 to read z foll[s3 7#a7 ,9 g5]al ,9 ! case ( an individual1 gross income does n include any am\nt :i* 7b = ?is subsection7 w\ld be includible 9 gross income by reasons ( ! dis*>ge 79 :ole or 9 "p7 (-- 7,a7 any loan provid$ expressly = po/second>y educational exp5ses1 reg>dless ( :e!r provid$ ?r\gh ! educational in/itution or directly to ! borr[]1 if su* loan 0 made1 insur$1 or gu>ante$ by-- 7i7 ! ,unit$ ,/ates1 or an in/rum5tality or ag5cy !re(1 7ii7 a ,/ate1 t]ritory1 or possession ( ! ,unit$ ,/ates1 or ! ,di/rict ( ,columbia1 or any political subdivision !re(1 or 7iii7 any in/itution ( high] education1 7,b7 any private education loan 7z def9$ 9 section #adj7;a77#g7 ( ! ,tru? 9 ,l5d+ ,act71 7,c7 any loan made by any educational organization describ$ 9 section #agj7;b77#a77;,a77ii7 if su* loan is made-- 7i7 pursuant to an agreem5t ) any entity describ$ 9 subp>agraph 7,a7 or any private education l5d] 7z def9$ 9 section #adj7;a7 ( ! ,tru? 9 ,l5d+ ,act7 "u :i* ! funds f :i* ! loan 0 made 7 provid$ to su* educational organization1 or 7ii7 pursuant to a program ( su* educational organization :i* is design$ to enc\rage its /ud5ts to s]ve 9 occupations ) unmet ne$s or 9 areas ) unmet ne$s & "u :i* ! s]vices provid$ by ! /ud5ts 7or =m] /ud5ts7 are = or "u ! direction ( a gov]nm5tal unit or an organization describ$ 9 section #eja7;c77#c7 & exempt f tax "u section #eja7;a71 or 7,d7 any loan made by an educational organization describ$ 9 section #agj7;b77#a77;,a77ii7 or by an organization exempt f tax "u section #eja7;a7 to ref9ance a loan to an individual to assi/ ! individual 9 att5d+ any su* educational organization b only if ! ref9anc+ loan is pursuant to a program ( ! ref9anc+ organization :i* is design$ z describ$ 9 subp>agraph 7,c77ii74 1 7#b7 by /rik+ p>agraphs 7#b7 & 7#e71 7#c7 by r$esignat+ p>agraphs 7#c7 & 7#d7 z p>agraphs 7#b7 & 7#c71 respectively1 & 7#d7 9 p>agraph 7#b71 z s r$esignat$1 by-- 7,a7 /rik+ made by an organization describ$ 9 p>agraph 7#b77;,d7 & ins]t+ made by an organization describ$ 9 p>agraph 7#a77;,c7 or made by a private education l5d] 7z def9$ 9 section #adj7;a77#g7 ( ! ,tru? 9 ,l5d+ ,act71 & 7,b7 ins]t+ or = su* private education l5d] aft] ei!r su* organization4 7b7 ,effective ,date ,! am5dm5ts made by ?is section %all apply to dis*>ges ( loans aft] ,decemb] #ca1 #bjbe4 #dajjf4 ,/ud5t loan int]e/ d$uction limitation appli$ sep>ately to ea* sp\se 7a7 ,9 g5]al ,section #bba7;b77#a7 is am5d$ to read z foll[s3 7#a7 ,9 g5]al ,! int]e/ tak5 into acc\nt ) respect to a taxpay] = a taxable ye> "u subsection 7a7 = indebt$ness incurr$ by an individual %all n exce$ #b1ejj4 4 7b7 ,con=m+ am5dm5ts ,section #bba is am5d$-- 7#a7 9 subsection 7b71 by /rik+ ! head+ & ins]t+ ,doll> limitations1 & 7#b7 by am5d+ subsection 7e7 to read z foll[s3 7e7 ,d5ial ( d\ble b5efit ,no d$uction %all be all[$ "u ?is section = any am\nt = :i* a d$uction is all[able "u any o!r provision ( ?is *apt]4 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbe4 ,b ,support+ our work=ce #dbjja4 ,educator exp5se d$uction to include e>ly *ildhood educators 7a7 ,9 g5]al ,section #fb is am5d$-- 7#a7 9 subsection 7a77#b77;,d71 by /rik+ ! head+ & ins]t+ ,c]ta9 exp5ses ( e>ly *ildhood1 elem5t>y1 & second>y s*ool tea*]s42 7#b7 9 subsection 7d77#a77;,a71 by /rik+ k9d]g>t5 ?r\gh grade #ab tea*] & ins]t+1 e>ly *ildhood educator1 k9d]g>t5 ?r\gh grade #ab tea*]2 & 7#c7 9 subsection 7d77#a77;,b71 by /rik+ elem5t>y education or second>y education 7k9d]g>t5 ?r\gh grade #ab7 & ins]t+1 e>ly *ildhood education1 elem5t>y education1 or second>y education 7pre-k9d]g>t5 ?r\gh grade #ab74 7b7 ,effective date ,! am5dm5ts made by ?is section %all apply to exp5ses incurr$ 9 taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbe4 #dbjjb4 ,all[ance ( d$uction = c]ta9 exp5ses ( ! trade or bus9ess ( be+ an employee 7a7 ,above-!-,l9e d$uction = union dues & exp5ses ,section #fb7;a77#a7 is am5d$ by add+ at ! end ! foll[+ new s5t5ce3 ,! limitation "u ! prec$+ s5t5ce %all n apply to d$uctions :i* are attributable to a trade or bus9ess consi/+ ( ! p]=mance ( s]vices by ! taxpay] z an employee if su* d$uctions are = union dues & exp5ses44 7b7 ,all[ance ( miscellane\s itemiz$ d$uction = o!r exp5ses ( ! trade or bus9ess ( be+ an employee ,section #fg7;g7 is am5d$-- 7#a7 by /rik+ #bjbe4--,not)/&+ subsection 7a71 & ins]t+ 8#bjbe4-- 7#a7 ,9 g5]al ,not)/&+ subsection 7a71 except z provid$ 9 p>agraph 7#b71 2 & 7#b7 by add+ at ! end ! foll[+3 7#b7 ,exception = exp5ses ( ! trade or bus9ess ( be+ an employee 7,a7 ,9 g5]al ,p>agraph 7#a7 %all n apply to miscellane\s itemiz$ d$uctions = any taxable ye> :i* are itemiz$ d$uctions attributable to a trade or bus9ess c>ri$ on by ! taxpay] :i* consi/s ( ! p]=mance ( s]vices by ! taxpay] z an employee4 7,b7 ,application ( #b-p]c5t te/ ,9 apply+ subsection 7a7 = any taxable ye> to :i* ?is p>agraph applies1 only ! itemiz$ d$uctions describ$ 9 subp>agraph 7,a7 %all be tak5 into acc\nt z miscellane\s itemiz$ d$uctions4 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbe4 #dbjjc4 ,modification ( d$uction = ca% tips 7a7 ,made p]man5t ,section #bbd is am5d$ by /rik+ subsection 7h74 7b7 ,application ( limitation on individual basis ,section #bbd7;b77#a7 is am5d$ by ins]t+ to an individual aft] am\nt all[$ z a d$uction "u ?is section4 7c7 ,treatm5t ( automatic gratuities ,section #bbd7;d7 is am5d$ by add+ at ! end ! foll[+ new p>agraph3 7#d7 ,treatm5t ( c]ta9 automatic gratuities 7,a7 ,9 g5]al ,9 ! case ( an individual engag$ 9 an occupation 9 hospitality1 food & bev]age s]vice1 or cosmetology1 ! t]m qualifi$ tips %all include automatic gratuities4 7,b7 ,automatic gratuity ,= purposes ( ?is p>agraph1 ! t]m automatic gratuity means1 ) respect to an individual1 any am\nt :i*-- 7i7 w\ld be a qualifi$ tip ) respect to ! individual b = p>agraph 7#b77;,a71 & 7ii7 is a m&atory or sugge/$ am\nt paid pursuant to a uni=m policy ( ! employ]1 "u :i* su* entire am\nt is receiv$ by ! individual or1 "u ,/ate or local law1 is pool$ & receiv$ only by employees ( ! employ] "u a tip-%>+ arrangem5t4 4 7d7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbe4 #dbjjd4 ,d$uction = c]ta9 ov]time comp5sation 7a7 ,9 g5]al ,section #bbe7;c77#a7 is am5d$ to read z foll[s3 7#a7 ,9 g5]al ,= purposes ( ?is section1 ! t]m qualifi$ ov]time comp5sation means-- 7,a7 any ov]time comp5sation paid to an individual requir$ "u section #g ( ! ,fair ,labor ,/&>ds ,act ( #aich t is 9 excess ( ! regul> rate 7z us$ 9 su* section7 at :i* su* individual is employ$1 or 7,b7 any comp5sation paid to an individual t is 9 excess ( ! regul> rate at :i* su* individual is employ$ if-- 7i7 su* comp5sation is paid = "w = a s+le employ] pursuant to an agreem5t betwe5 ! employee 7or labor organization repres5t+ su* employee7 & employ] ent]$ into be=e ! p]=mance ( ! "w1 & 7ii7 ei!r-- 7,i7 su* "w is 9 excess ( a /&>d numb] ( h\rs ( su* "w = a specifi$ p]iod ( "t1 & su* agreem5t specifies t su* /&>d numb] ( h\rs = a specifi$ p]iod ( "t is n less ?an #dj h\rs = a #g-;day "w p]iod1 or 7,,ii7 if ! employee 7includ+ any crewmemb] or flight crewmemb]1 or rail op]at+ craft employee7 & employ] ref]r$ to 9 clause 7i7 are bo? cov]$ by ! ,railway ,labor ,act1 su* "w is beyond s*$ul$ or anticipat$ h\rs on duty or = h\rs on duty t exce$ a maximum numb] ( h\rs ) respect to a specifi$ p]iod ( "t 7z det]m9$ pursuant to su* agreem5t74 4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbe4 #dbjje4 ,above-!-l9e d$uction ( exp5ses ( p]=m+ arti/s 7a7 ,9 g5]al ,section #fb7;a77#b77;,b7 is am5d$-- 7#a7 by /rik+ p]=m+ arti/s4--,! d$uctions & ins]t+ ! foll[+3 p]=m+ arti/s4-- 7i7 ,9 g5]al ,! d$uctions 1 & 7#b7 by add+ at ! end ! foll[+ new clauses3 7ii7 ,phase\t ,! am\nt ( exp5ses tak5 into acc\nt "u clause 7i7 %all be r$uc$ 7b n bel[ z]o7 by #aj p]c5tage po9ts = ea* #b1jjj 7#d1jjj 9 ! case ( a jo9t return71 or fraction !re(1 by :i* ! taxpay]'s gross income = ! taxable ye> exce$s #ajj1jjj 7#bjj p]c5t ( su* am\nt 9 ! case ( a jo9t return74 7iii7 ,co/-(-liv+ adju/m5t ,9 ! case ( any taxable ye> beg9n+ 9 a cal5d> ye> aft] #bjbf1 ! #ajj1jjj am\nt "u clause 7ii7 %all be increas$ by an am\nt equal to-- 7,i7 su* doll> am\nt1 multipli$ by 7,,ii7 ! 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> #bjbe = cal5d> ye> #bjaf 9 subp>agraph 7,a77ii7 !re(4 ,if any am\nt aft] adju/m5t "u ! prec$+ s5t5ce is n a multiple ( #a1jjj1 su* am\nt %all be r\nd$ to ! ne>e/ multiple ( #a1jjj4 4 7b7 ,cl>ification reg>d+ commission paid to p]=m+ arti/'s manag] or ag5t ,section #fb7;a77#b77;,b77i71 z am5d$ by subsection 7a71 is am5d$ by ins]t+ be=e ! p]iod at ! end ! foll[+3 1 includ+ any commission paid to ! p]=m+ arti/'s manag] or ag5t4 7c7 ,increase 9 ?re%old = det]m9+ nom9al employ]s ,section #fb7;b77#b7 is am5d$-- 7#a7 by /rik+ ,an individual & ins]t+ ! foll[+3 7,a7 ,9 g5]al ,an individual 1 7#b7 by /rik+ #bjj & ins]t+ #ejj1 & 7#c7 by add+ at ! end ! foll[+ new subp>agraph3 7,b7 ,co/-(-liv+ adju/m5t ,9 ! case ( any taxable ye> beg9n+ 9 a cal5d> ye> aft] #bjbf1 ! #ejj am\nt "u subp>agraph 7,a7 %all be increas$ by an am\nt equal to-- 7i7 su* doll> am\nt1 multipli$ by 7ii7 ! 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> #bjbe = cal5d> ye> #bjaf 9 subp>agraph 7,a77ii7 !re(4 ,if any am\nt aft] adju/m5t "u ! prec$+ s5t5ce is n a multiple ( #ej1 su* am\nt %all be r\nd$ to ! ne>e/ multiple ( #ej4 4 7d7 ,con=m+ am5dm5ts 7#a7 ,section #fb7;a77#b77;,b77i71 z am5d$ by ! prec$+ provisions ( ?is ,act1 is am5d$ by /rik+ by him & ins]t+ by ! p]=m+ arti/4 7#b7 ,section #fb7;b77#a7 is am5d$ by ins]t+ & at ! end ( subp>agraph 7,a71 by /rik+ 1 & at ! end ( subp>agraph 7,b7 & ins]t+ a p]iod1 & by /rik+ subp>agraph 7,c74 7e7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbe4 #dbjjf4 ,p]man5t ext5sion ( e>n$ income cr$it rules = individuals )\t qualify+ *ildr5 7a7 ,decrease 9 m9imum age = cr$it 7#a7 ,9 g5]al ,subclause 7,,ii7 ( section #cb7;c77#a77;,a77ii7 is am5d$ by /rik+ age #be & ins]t+ ! applicable m9imum age4 7#b7 ,applicable m9imum age ,p>agraph 7#a7 ( section #cb7;c7 is am5d$ by add+ at ! end ! foll[+ new subp>agraph3 7,f7 ,applicable m9imum age ,= purposes ( ?is p>agraph-- 7i7 ,9 g5]al ,! t]m applicable m9imum age means-- 7,i7 except z o!rwise provid$ 9 ?is clause1 age #ai1 7,,ii7 9 ! case ( a /ud5t 7z def9$ 9 section #aeb7;f77#b771 o!r ?an a qualifi$ =m] fo/] y\? or a qualifi$ homeless y\?1 age #bd1 & 7,,iii7 9 ! case ( a qualifi$ =m] fo/] y\? or a qualifi$ homeless y\?1 age #ah4 7ii7 ,qualifi$ =m] fo/] y\? ,= purposes ( ?is subp>agraph1 ! t]m qualifi$ =m] fo/] y\? means an individual :o-- 7,i7 on or aft] ! date t su* individual atta9$ age #ad1 0 9 fo/] c>e provid$ "u ! sup]vision or adm9i/ration ( an entity adm9i/]+ 7or eligible to adm9i/]7 a plan "u "p ,b or "p ,e ( title ,,iv ( ! ,social ,security ,act 7)\t reg>d to :e!r ,f$]al assi/ance 0 provid$ ) respect to su* *ild "u su* "p ,e71 & 7,,ii7 provides 79 su* mann] z ! ,secret>y may provide7 cons5t = entities :i* adm9i/] a plan "u "p ,b or "p ,e ( title ,,iv ( ! ,social ,security ,act to disclose to ! ,secret>y in=mation relat$ to ! /atus ( su* individual z a qualifi$ =m] fo/] y\?4 7iii7 ,qualifi$ homeless y\? ,= purposes ( ?is subp>agraph1 ! t]m qualifi$ homeless y\? means1 ) respect to any taxable ye>1 an individual :o c]tifies1 9 a mann] z provid$ by ! ,secret>y1 t su* individual is ei!r an unaccompani$ y\? :o is a homeless *ild or y\?1 or is unaccompani$1 at risk ( homelessness1 & self-support+4 4 7b7 ,elim9ation ( maximum age = cr$it ,subclause 7,,ii7 ( section #cb7;c77#a77;,a77ii7 is am5d$ by /rik+ b n atta9$ age #fe4 7c7 ,increase 9 cr$it & phase\t p]c5tages ,! table conta9$ 9 p>agraph 7#a7 ( section #cb7;b7 is am5d$ by /rik+ #g4fe ea* place x appe>s & ins]t+ #ae4c4 7d7 ,increase 9 e>n$ income & phase\t am\nts ,! table conta9$ 9 subp>agraph 7,a7 ( section #cb7;b77#b7 is am5d$-- 7#a7 by /rik+ #d1bbj & ins]t+ #i1hbj1 & 7#b7 by /rik+ #e1bhj & ins]t+ #aa1faj4 7e7 ,inflation adju/m5ts 7#a7 ,9 g5]al ,p>agraph 7#a7 ( section #cb7;j7 is am5d$ to read z foll[s3 7#a7 ,9 g5]al ,9 ! case ( any taxable ye> beg9n+ aft]-- 7,a7 #bjba1 9 ! case ( ! doll> am\nt 9 subsection 7i77#a71 7,b7 #bjbf1 9 ! case ( ! doll> am\nts 9 ! ?ird r[ ( ! table 9 subsection 7b77#b77;,a71 & 7,c7 #bjae1 9 any o!r case1 ea* ( ! doll> am\nts 9 subsections 7b77#b7 & 7i77#a7 %all be increas$ by an am\nt equal to ! inflation am\nt4 4 7#b7 ,inflation am\nt ,subsection 7j7 ( section #cb is am5d$ by add+ at ! end ! foll[+ new p>agraph3 7#c7 ,inflation am\nt ,= purposes ( p>agraph 7#a71 ! inflation am\nt ) respect to any doll> am\nt = any taxable ye> is ! am\nt equal to-- 7,a7 su* doll> am\nt1 multipli$ by 7,b7 ! p]c5tage 7if any7 by :i*-- 7i7 ! ,,cpi 7z def9$ 9 section #a7;f77#d77 = ! cal5d> ye> prec$+ ! ye> 9 :i* ! taxable ye> beg9s1 exce$s 7ii7 ! ,,cpi 7z s def9$7 =-- 7,i7 9 ! case ( am\nts 9 ! ?ird r[ ( ! table 9 subsection 7b77#b77;,a71 #bjbe1 7,,ii7 9 ! case ( any o!r am\nt 9 subsection 7b77#b77;,a71 #aiie1 7,,iii7 9 ! case ( ! #e1jjj am\nt 9 subsection 7b77#b77;,b71 #bjjh1 & 7,,iv7 9 ! case ( ! #aj1jjj am\nt 9 subsection 7i77#a71 #bjbj4 4 7f7 ,con=m+ am5dm5t ,section #cb is am5d$ by /rik+ subsection 7n74 7g7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbe4 #dbjjg4 ,application ( e>n$ income cr$it to possessions ( ! ,unit$ ,/ates 7a7 ,pu]to ,rico ,subp>agraph 7,b7 ( section #gecj7;a77#a7 is am5d$ by /rik+ 9 ! case ( cal5d> ye>s #bjba ?r\gh #bjbe14 7b7 ,possessions ) mirror code tax sy/ems ,subp>agraph 7,b7 ( section #gecj7;b77#a7 is am5d$ by /rik+ 9 ! case ( cal5d> ye>s #bjba ?r\gh #bjbe14 7c7 ,am]ican ,samoa ,subp>agraph 7,b7 ( section #gecj7;c77#a7 is am5d$ by /rik+ 9 ! case ( cal5d> ye>s #bjba ?r\gh #bjbe14 #dbjjh4 ,election to use prior ye> e>n$ income = e>n$ income tax cr$it 7a7 ,9 g5]al ,p>agraph 7#b7 ( section #cb7;c7 is am5d$ by add+ at ! end ! foll[+ new subp>agraph3 7,c7 ,election to use prior ye> e>n$ income 7i7 ,9 g5]al ,if ! e>n$ income ( ! taxpay] = any taxable ye> is less ?an ! e>n$ income ( ! taxpay] = ! prec$+ taxable ye>1 ! cr$it all[$ "u subsection 7a7 may1 at ! election ( ! taxpay]1 be det]m9$ by sub/itut+-- 7,i7 su* e>n$ income = su* prec$+ taxable ye>1 = 7,,ii7 su* e>n$ income = ! taxable ye> = :i* su* cr$it is be+ det]m9$4 7ii7 ,application to jo9t returns ,= purposes ( clause 7i71 9 ! case ( a jo9t return1 ! e>n$ income ( ! taxpay] = ! prec$+ taxable ye> %all be ! sum ( ! e>n$ income ( ea* sp\se = su* taxable ye>4 7iii7 ,special rules 7,i7 ,errors treat$ z ma!matical errors ,= purposes ( section #fbac1 an incorrect use on a return ( e>n$ income pursuant to clause 7i7 %all be treat$ z a ma!matical or cl]ical error4 7,,ii7 ,no effect on det]m9ation ( gross income1 etc ,except z o!rwise provid$ 9 ?is subp>agraph1 ?is title %all be appli$ )\t reg>d to any sub/itution "u clause 7i74 4 7b7 ,effective date ,! am5dm5t made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbe4 ,v ,heal?c>e #ejjja4 ,increase 9 eligibility = heal? insurance premium assi/ance tax cr$it 7a7 ,9 g5]al ,subp>agraph 7,a7 ( section #cf;,b7c77#a7 is am5d$ by /rik+ b does n exce$ #djj p]c5t4 7b7 ,applicable p]c5tages 7#a7 ,9 g5]al ,subp>agraph 7,a7 ( section #cf;,b7b77#c7 is am5d$ to read z foll[s3 7,a7 ,applicable p]c5tage ,! applicable p]c5tage = any taxable ye> %all be ! p]c5tage su* t ! applicable p]c5tage = any taxpay] ^: h\sehold income is )9 an income ti] specifi$ 9 ! foll[+ table %all increase1 on a slid+ scale 9 a l9e> mann]1 f ! initial premium p]c5tage to ! f9al premium p]c5tage specifi$ 9 su* table = su* income ti]3 ,9 ! case ( h\sehold income 7express$ z a p]c5t ( pov]ty l9e7 )9 ! foll[+ income ti]3,! initial premium p]c5tage is--,! f9al premium p]c5tage is--,up to #aej p]c5t#jjaej p]c5t up to #bjj p]c5t#jb4jbjj p]c5t up to #bej p]c5t#b4jd4jbej p]c5t up to #cjj p]c5t#d4jf4jcjj p]c5t up to #djj p]c5t#f4jh4edjj p]c5t & high]#h4eh4e4 4 7#b7 ,con=m+ am5dm5ts relat+ to af=dability ( cov]age 7,a7 ,p>agraph 7#a7 ( section #cf;,b7c7 is am5d$ by /rik+ subp>agraph 7,e74 7,b7 ,subp>agraph 7,c7 ( section #cf;,b7c77#b7 is am5d$ by /rik+ clause 7iv74 7,c7 ,p>agraph 7#d7 ( section #cf;,b7c7 is am5d$ by /rik+ subp>agraph 7,f74 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbe4 #ejjjb4 ,fill+ ! cov]age gap 7a7 ,ensur+ af=dability ( cov]age = c]ta9 l[-,income populations ,section #adjb ( ! ,pati5t ,protection & ,af=dable ,c>e ,act 7#db ,u4,s4,c4 #ahjga7 is am5d$-- 7#a7 9 subsection 7b7-- 7,a7 9 p>agraph 7#b71 by ins]t+ 7or1 ) respect to plan ye>s #bjbf1 #bjbg1 & #bjbh1 ^: h\sehold income does n exce$ #djj p]c5t ( ! pov]ty l9e = a family ( ! size involv$7 be=e ! p]iod2 & 7,b7 9 ! matt] foll[+ p>agraph 7#b71 by add+ at ! end ! foll[+ new s5t5ce3 ,9 ! case ( an individual :o is det]m9$ at any po9t to h a h\sehold income = #bjbe t does n exce$ #ach p]c5t ( ! pov]ty l9e = a family ( ! size involv$1 su* individual %all1 = ea* mon? dur+ su* ye>1 be treat$ z hav+ a h\sehold income equal to #ajj p]c5t = purposes ( apply+ ?is section42 & 7#b7 9 subsection 7c7-- 7,a7 9 p>agraph 7#a77;,a71 9 ! matt] prec$+ clause 7i71 by ins]t+ 1 ) respect to eligible insur$s 7o!r ?an1 ) respect to plan ye>s #bjbf1 #bjbg1 & #bjbh1 specifi$ enrollees 7z def9$ 9 p>agraph 7#f77;,c7771 aft] fir/ be a*iev$2 7,b7 9 p>agraph 7#b71 9 ! matt] prec$+ subp>agraph 7,a71 by ins]t+ ) respect to eligible insur$s 7o!r ?an1 ) respect to plan ye>s #bjbf1 #bjbg1 & #bjbh1 specifi$ enrollees7 aft] "u ! plan2 7,c7 9 p>agraph 7#c7-- 7i7 9 subp>agraph 7,a71 by /rik+ ?is subsection & ins]t+ p>agraph 7#a7 or 7#b72 & 7ii7 9 subp>agraph 7,b71 by /rik+ ?is section & ins]t+ p>agraphs 7#a7 & 7#b72 & 7,d7 by add+ at ! end ! foll[+ new p>agraph3 7#f7 ,special rule = specifi$ enrollees 7,a7 ,9 g5]al ,! ,secret>y %all e/abli% proc$ures "u :i* ! issu] ( a qualifi$ heal? plan to :i* ?is section applies %all r$uce co/-%>+ "u ! plan ) respect to mon?s occurr+ dur+ plan ye>s #bjbf1 #bjbg1 & #bjbh = enrollees :o are specifi$ enrollees 7z def9$ 9 subp>agraph 7,c77 9 a mann] suffici5t to increase ! plan's %>e ( ! total all[$ co/s ( b5efits provid$ "u ! plan to #ii p]c5t ( su* co/s4 7,b7 ,me?ods = r$uc+ co/ %>+ 7i7 ,9 g5]al ,an issu] ( a qualifi$ heal? plan mak+ r$uctions "u ?is p>agraph %all notify ! ,secret>y ( su* r$uctions & ! ,secret>y %all1 out ( funds made available "u clause 7ii71 make p]iodic & timely paym5ts to ! issu] equal to #ab p]c5t ( ! total all[$ co/s ( b5efits provid$ "u ea* su* plan to specifi$ enrollees dur+ plan ye>s #bjbf1 #bjbg1 & #bjbh4 7ii7 ,appropriation ,9 addition to am\nts o!rwise available1 !re are appropriat$1 out ( any money 9 ! ,treasury n o!rwise appropriat$1 su* sums z may be necess>y to ! ,secret>y to make paym5ts "u clause 7i74 7,c7 ,specifi$ enrollee def9$ ,= purposes ( ?is section1 ! t]m specifi$ enrollee means1 ) respect to a plan ye>1 an eligible insur$ :o is det]m9$ at any po9t to h a h\sehold income = su* plan ye> t does n exce$ #ach p]c5t ( ! pov]ty l9e = a family ( ! size involv$4 ,su* insur$ %all be deem$ to be a specifi$ enrollee = ea* mon? 9 su* plan ye>4 4 7b7 ,op5 enrollm5ts applicable to c]ta9 l[]-,income populations ,section #acaa7;c7 ( ! ,pati5t ,protection & ,af=dable ,c>e ,act 7#db ,u4,s4,c4 #ahjca7;c77 is am5d$-- 7#a7 9 p>agraph 7#f7-- 7,a7 9 subp>agraph 7,c71 by /rik+ at ! end &2 7,b7 9 subp>agraph 7,d71 by /rik+ ! p]iod at ! end & ins]t+ 2 &2 & 7,c7 by add+ at ! end ! foll[+ new subp>agraph3 7,e7 ) respect to a qualifi$ heal? plan ) respect to :i* section #adjb applies1 = mon?s occurr+ dur+ ! p]iod beg9n+ on ,janu>y #a1 #bjbf1 & end+ on ,decemb] #ca1 #bjbh1 enrollm5t p]iods describ$ 9 subp>agraph 7,a7 ( p>agraph 7#h7 = individuals describ$ 9 subp>agraph 7,b7 ( su* p>agraph4 2 & 7#b7 by add+ at ! end ! foll[+ new p>agraph3 7#h7 ,special enrollm5t p]iod = c]ta9 l[-income populations 7,a7 ,9 g5]al ,! enrollm5t p]iod describ$ 9 ?is p>agraph is1 9 ! case ( an individual describ$ 9 subp>agraph 7,b71 ! cont9u\s p]iod beg9n+ on ! fir/ day t su* individual is s describ$4 7,b7 ,individual describ$ ,= purposes ( subp>agraph 7,a71 an individual describ$ 9 ?is subp>agraph is an individual-- 7i7 ) a h\sehold income t does n exce$ #ach p]c5t ( ! pov]ty l9e = a family ( ! size involv$2 & 7ii7 :o is n eligible = m9imum ess5tial cov]age 7z def9$ 9 section #ejjj;,a7f7 ( ! ,int]nal ,rev5ue ,code ( #aihf71 o!r ?an = cov]age describ$ 9 any ( subp>agraphs 7,b7 ?r\gh 7,e7 ( p>agraph 7#a7 ( su* section4 4 7c7 ,additional b5efits = c]ta9 l[-,income individuals = plan ye>s #bjbf & #bjbg ,section #acja7;a7 ( ! ,pati5t ,protection & ,af=dable ,c>e ,act 7#db ,u4,s4,c4 #ahjba7;a77 is am5d$-- 7#a7 9 p>agraph 7#a7-- 7,a7 9 subp>agraph 7,b71 by /rik+ & at ! end2 7,b7 9 subp>agraph 7,c77iv71 by /rik+ ! p]iod & ins]t+ 2 &2 & 7,c7 by add+ at ! end ! foll[+ new subp>agraph3 7,d7 provides1 ) respect to a plan (f]$ 9 ! silv] level ( cov]age to :i* section #adjb applies dur+ plan ye> #bjbf & #bjbg1 = b5efits describ$ 9 p>agraph 7#e7 9 ! case ( an individual :o has a h\sehold income t does n exce$ #ach p]c5t ( ! pov]ty l9e = a family ( ! size involv$1 & :o is eligible to receive co/-%>+ r$uctions "u section #adjb4 2 & 7#b7 by add+ at ! end ! foll[+ new p>agraph3 7#e7 ,additional b5efits = c]ta9 l[-income individuals = plan ye> #bjbf & #bjbg 7,a7 ,9 g5]al 7i7 ,b5efits ,= purposes ( p>agraph 7#a77;,d71 ! b5efits describ$ 9 ?is p>agraph to be provid$ by a qualifi$ heal? plan are b5efits consi/+ (-- 7,i7 non-em]g5cy m$ical transportation s]vices 7z describ$ 9 section #aijb7;a77#d7 ( ! ,social ,security ,act7 = :i* ,f$]al paym5ts w\ld h be5 available "u title ,,xix ( ! ,social ,security ,act _h su* s]vices be5 furni%$ to an individual enroll$ "u a ,/ate plan 7or waiv] ( su* plan7 "u su* title2 & 7,,ii7 s]vices describ$ 9 subsection 7a77#d77;,c7 ( section #aije ( su* ,act = :i* ,f$]al paym5ts w\ld h be5 s available2 :i* are n o!rwise provid$ "u su* plan z "p ( ! ess5tial heal? b5efits package describ$ 9 section #acjb7;a74 7ii7 ,condition on provision ( b5efits ,b5efits describ$ 9 ?is p>agraph %all be provid$-- 7,i7 )\t any re/riction on ! *oice ( a qualifi$ provid] f :om an individual may receive su* b5efits2 & 7,,ii7 )\t any imposition ( co/ %>+4 7,b7 ,paym5ts = additional b5efits 7i7 ,9 g5]al ,an issu] ( a qualifi$ heal? plan mak+ paym5ts = s]vices describ$ 9 subp>agraph 7,a7 furni%$ to individuals describ$ 9 p>agraph 7#a77;,d7 dur+ plan ye> #bjbf or #bjbg %all notify ! ,secret>y ( su* paym5ts & ! ,secret>y %all1 out ( funds made available "u clause 7ii71 make p]iodic & timely paym5ts to ! issu] equal to paym5ts = su* s]vices s furni%$4 7ii7 ,appropriation ,9 addition to am\nts o!rwise available1 !re is appropriat$1 out ( any money 9 ! ,treasury n o!rwise appropriat$1 su* sums z may be necess>y to ! ,secret>y to make paym5ts "u clause 7i74 4 7d7 ,education & outrea* activities 7#a7 ,9 g5]al ,section #acba7;c7 ( ! ,pati5t ,protection & ,af=dable ,c>e ,act 7#db ,u4,s4,c4 #ahjda7;c77 is am5d$ by add+ at ! end ! foll[+ new p>agraph3 7#c7 ,outrea* & educational activities 7,a7 ,9 g5]al ,9 ! case ( an ,ex*ange e/abli%$ or op]at$ by ! ,secret>y )9 a ,/ate pursuant to ?is subsection1 ! ,secret>y %all c>ry out outrea* & educational activities = purposes ( in=m+ individuals describ$ 9 section #aijb7;a77#aj77;,a77i77,,viii7 ( ! ,social ,security ,act :o reside 9 ,/ates t h n exp5d$ am\nts "u a ,/ate plan 7or waiv] ( su* plan7 "u title ,,xix ( su* ,act = all su* individuals ab\t qualifi$ heal? plans (f]$ ?r\gh ! ,ex*ange1 includ+ by in=m+ su* individuals ( ! availability ( cov]age "u su* plans & f9ancial assi/ance = cov]age "u su* plans4 ,su* outrea* & educational activities %all be provid$ 9 a mann] t is culturally & l+ui/ically appropriate to ! ne$s ( ! populations be+ s]v$ by ! ,ex*ange 7includ+ h>d-to-rea* populations1 su* z racial & sexual m9orities1 limit$ ,engli% pr(ici5t populations1 individuals resid+ 9 areas :]e ! unemploym5t rates exce$s ! national av]age unemploym5t rate1 individuals 9 rural areas1 vet]ans1 & "y adults74 7,b7 ,limitation on use ( funds ,funds appropriat$ "u ?is p>agraph %all n be us$ to promote any heal? insurance cov]age o!r ?an qualifi$ heal? plans4 7,c7 ,fund+ ,9 addition to am\nts o!rwise available1 !re is appropriat$1 out ( any money 9 ! ,treasury n o!rwise appropriat$1 to rema9 available until exp5d$1 #aje1jjj1jjj = fiscal ye> #bjbf to c>ry out ?is p>agraph1 ( :i*-- 7i7 #ae1jjj1jjj %all be us$ to c>ry out ?is p>agraph 9 fiscal ye> #bjbf2 & 7ii7 #cj1jjj1jjj %all be us$ to c>ry out ?is p>agraph = ea* ( fiscal ye>s #bjbg ?r\gh #bjbh4 4 7#b7 ,navigator program ,section #acaa7;i7 ( ! ,pati5t ,protection & ,af=dable ,c>e ,act 7#db ,u4,s4,c4 #ahjca7;i77 is am5d$-- 7,a7 9 p>agraph 7#a7-- 7i7 by /rik+ ,an ,ex*ange & ins]t+ ! foll[+3 7,a7 ,9 g5]al ,an ,ex*ange 2 & 7ii7 by add+ at ! end ! foll[+3 7,b7 ,grants = eligible entities ) respect to c]ta9 ,/ates ,! ,secret>y %all e/abli% a program to aw>d grants to entities describ$ 9 p>agraph 7#b7 to c>ry out ! duties describ$ 9 p>agraph 7#c7 9 "o or m ,/ates t d n provide "u ! ,/ate plan "u title ,,xix ( ! ,social ,security ,act 7or a waiv] ( su* plan7 b5*m>k cov]age describ$ 9 section #aicg7;b77#a7 ( su* ,act or b5*m>k equival5t cov]age describ$ 9 section #aicg7;b77#b7 ( su* ,act to all individuals describ$ 9 section #aijb7;a77#aj77;,a77i77,,viii7 ( su* ,act4 2 & 7,b7 9 p>agraph 7#f7-- 7i7 by /rik+ ,grants "u & ins]t+ ! foll[+3 7,a7 ,/ate ,ex*anges ,grants "u 2 & 7ii7 by add+ at ! end ! foll[+ new subp>agraph3 7,b7 ,f$]al ,ex*anges2 grants to eligible entities ) respect to c]ta9 ,/ates ,= purposes ( c>ry+ out ?is subsection1 ) respect to an ,ex*ange e/abli%$ & op]at$ by ! ,secret>y )9 a ,/ate pursuant to section #acba7;c7 & ) respect to grants "u p>agraph 7#a77;,b71 ! ,secret>y %all obligate n less ?an #aj1jjj1jjj out ( am\nts collect$ ?r\gh ! us] fees on p>ticipat+ heal? insurance issu]s pursuant to section #aef4ej ( title #de1 ,code ( ,f$]al ,regulations 7or any successor regulations7 = fiscal ye> #bjbf1 & n less ?an #bj1jjj1jjj = ea* ( fiscal ye>s #bjbg & #bjbh4 ,su* am\nt s obligat$ = a fiscal ye> %all rema9 available until exp5d$4 4 7e7 ,fund+ ,9 addition to am\nts o!rwise available1 !re is appropriat$ to ! ,secret>y ( ,heal? & ,human ,s]vices = fiscal ye> #bjbf1 out ( any money 9 ! ,treasury n o!rwise appropriat$1 #fe1jjj1jjj1 to rema9 available until exp5d$1 = purposes ( c>ry+ out ! provisions (1 & ! am5dm5ts made by1 ?is section 7o!r ?an subsections 7f7 & 7g774 7f7 ,tempor>y expansion ( heal? insurance premium tax cr$its = c]ta9 l[-,income populations 7#a7 ,9 g5]al ,section #cf;,b is am5d$ by r$esignat+ subsection 7h7 z subsection 7i7 & by ins]t+ aft] subsection 7g7 ! foll[+ new subsection3 7h7 ,c]ta9 tempor>y rules beg9n+ 9 #bjbf ,) respect to any taxable ye> beg9n+ aft] ,decemb] #ca1 #bjbe1 & be=e ,janu>y #a1 #bjbi-- 7#a7 ,eligibility = cr$it n limit$ bas$ on income ,subsection 7c77#a77;,a7 %all be appli$ )\t reg>d to equals or exce$s #ajj p]c5t b4 7#b7 ,cr$it all[$ to c]ta9 l[-income employees (f]$ employ]-provid$ cov]age ,9 ! case ( an individual ^: h\sehold income does n exce$ #ach p]c5t ( ! pov]ty l9e = a family ( ! size involv$1 clause 7i7 ( subsection 7c77#b77;,c7 %all be appli$ 7includ+ 9 ! case ( any individual describ$ 9 ! la/ s5t5ce ( su* clause7 )\t reg>d to subclause 7,,ii7 !re(4 7#c7 ,cr$it all[$ to c]ta9 l[-income employees (f]$ qualifi$ small employ] heal? reimbursem5t arrangem5ts ,a qualifi$ small employ] heal? reimbursem5t arrangem5t %all n be treat$ z con/itut+ af=dable cov]age = an employee 7or any sp\se or dep5d5t ( su* employee7 = any mon?s ( a taxable ye> if ! employee's h\sehold income = su* taxable ye> does n exce$ #ach p]c5t ( ! pov]ty l9e = a family ( ! size involv$4 7#d7 ,limitations on recapture 7,a7 ,9 g5]al ,9 ! case ( a taxpay] ^: h\sehold income is less ?an #bjj p]c5t ( ! pov]ty l9e = ! size ( ! family involv$ = ! taxable ye>1 ! am\nt ( ! increase "u subsection 7f77#b77;,a7 %all 9 no ev5t exce$ #cjj 7"o-half ( su* am\nt 9 ! case ( a taxpay] ^: tax is det]m9$ "u section #a7;c7 = ! taxable ye>74 7,b7 ,limitation on increase = c]ta9 non-fil]s ,9 ! case ( any taxpay] :o w\ld n be requir$ to file a return ( tax = ! taxable ye> b = any requirem5t to reconcile advance cr$it paym5ts "u subsection 7f71 if an ,ex*ange e/abli%$ "u title ,i ( ! ,pati5t ,protection & ,af=dable ,c>e ,act has det]m9$ t-- 7i7 su* taxpay] is eligible = advance paym5ts "u section #adab ( su* ,act = any portion ( su* taxable ye>1 & 7ii7 su* taxpay]'s h\sehold income = su* taxable ye> is project$ n to exce$ #ach p]c5t ( ! pov]ty l9e = a family ( ! size involv$1 subsection 7f77#b77;,a7 %all n apply to su* taxpay] = su* taxable ye> & su* taxpay] %all n be requir$ to file su* return ( tax4 7,c7 ,in=mation provid$ by ,ex*ange ,! in=mation requir$ to be provid$ by an ,ex*ange to ! ,secret>y & to ! taxpay] "u subsection 7f77#c7 %all include su* in=mation z is necess>y to det]m9e :e!r su* ,ex*ange has made ! det]m9ations describ$ 9 clauses 7i7 & 7ii7 ( subp>agraph 7,b7 ) respect to su* taxpay]4 4 7#b7 ,employ] %>$ responsibility provision n applicable ) respect to c]ta9 l[-,income taxpay]s receiv+ premium assi/ance ,section #dihj;,h7c77#c7 is am5d$ to read z foll[s3 7#c7 ,applicable premium tax cr$it & co/-%>+ r$uction 7,a7 ,9 g5]al ,! t]m applicable premium tax cr$it & co/-%>+ r$uction means-- 7i7 any premium tax cr$it all[$ "u section #cf;,b1 7ii7 any co/-%>+ r$uction "u section #adjb ( ! ,pati5t ,protection & ,af=dable ,c>e ,act1 & 7iii7 any advance paym5t ( su* cr$it or r$uction "u section #adab ( su* ,act4 7,b7 ,exception ) respect to c]ta9 l[-income taxpay]s ,su* t]m %all n include any premium tax cr$it1 co/-%>+ r$uction1 or advance paym5t o!rwise describ$ 9 subp>agraph 7,a7 if su* cr$it1 r$uction1 or paym5t is all[$ or paid = a taxable ye> ( an employee 7beg9n+ aft] ,decemb] #ca1 #bjbe1 & be=e ,janu>y #a1 #bjbi7 ) respect to :i*-- 7i7 an ,ex*ange e/abli%$ "u title ,i ( ! ,pati5t ,protection & ,af=dable ,c>e ,act has det]m9$ t su* employee's h\sehold income = su* taxable ye> is project$ to n exce$ #ach p]c5t ( ! pov]ty l9e = a family ( ! size involv$1 or 7ii7 su* employee's h\sehold income = su* taxable ye> does n exce$ #ach p]c5t ( ! pov]ty l9e = a family ( ! size involv$4 4 7#c7 ,effective date ,! am5dm5ts made by ?is subsection %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbe4 7g7 ,fur!r increase 9 ,,fmap = ,m$ical ,assi/ance = ,newly ,eligible ,m&atory ,individuals ,section #aije7y77#a7 ( ! ,social ,security ,act 7#db ,u4,s4,c4 #acif;d7y77#a77 is am5d$-- 7#a7 9 subp>agraph 7,d71 by /rik+ at ! end &2 7#b7 9 subp>agraph 7,e71 by /rik+ #bjbj & ea* ye> !reaft]4 & ins]t+ #bjbj1 #bjba1 #bjbb1 #bjbc1 #bjbd1 & #bjbe22 & 7#c7 by add+ at ! end ! foll[+ new subp>agraphs3 7,f7 #ic p]c5t = cal5d> qu>t]s 9 #bjbf1 #bjbg1 & #bjbh2 & 7,g7 #ij p]c5t = cal5d> qu>t]s 9 #bjbi & ea* ye> !reaft]4 4 #ejjjc4 ,freeze ( premium adju/m5t p]c5tage increase ,section #acjb7;c77#d7 ( ! ,pati5t ,protection & ,af=dable ,c>e ,act is am5d$-- 7#a7 by /rik+ ,= purposes ( & ins]t+ ! foll[+3 7,a7 ,9 g5]al ,= purposes ( 2 & 7#b7 by add+ at ! end ! foll[+ new subp>agraph3 7,b7 ,freeze 9 premium adju/m5t p]c5tage increase ,= plan ye>s beg9n+ on or aft] ,janu>y #a1 #bjbg1 ! maximum annual limitation on co/ %>+ 7z describ$ 9 section #aef4acj7;a77#b7 ( title #de1 ,code ( ,f$]al ,regulations7 is equal to ! great] (-- 7i7 ! maximum annual limitation on co/ %>+ = plan ye> #bjbe1 z describ$ 9 ! f9al rule publi%$ on ,april #ae1 #bjbd 7#hi ,f$4 ,reg4 #bfbah et seq472 & 7ii7 #ij p]c5t ( ! am\nt describ$ 9 clause 7i71 increas$ by ! p]c5tage by :i* ! av]age p] capita premium = heal? insurance cov]age 9 ! ,unit$ ,/ates = ! prec$+ cal5d> ye> 7z e/imat$ by ! ,secret>y n lat] ?an ,octob] #a ( su* prec$+ cal5d> ye>7 exce$s su* av]age p] capita premium = #bjbd4 4 #ejjjd4 ,requir+ cov]age ( c]ta9 immunizations recomm5d$ by ! ,advisory ,committee on ,immunization ,practices 7a7 ,gr\p heal? plans & heal? insurance cov]age 7#a7 ,,phsa 7,a7 ,9 g5]al ,"p ,d ( title ,,xxvii ( ! ,public ,heal? ,s]vice ,act 7#db ,u4,s4,c4 #cjj;gg-#aaa et seq47 is am5d$ by add+ at ! end ! foll[+ new section3 #bgii;,a-#aa4 ,cov]age ( c]ta9 immunizations recomm5d$ by ! ,advisory ,committee on ,immunization ,practices 7a7 ,9 g5]al ,) respect to plan ye>s occurr+ dur+ ! date ( ! enactm5t ( ?is section1 or beg9n+ on or aft] ! date ( ! enactm5t ( ?is section & be=e ,janu>y #a1 #bjcj1 a gr\p heal? plan & a heal? insurance issu] (f]+ gr\p or individual heal? insurance cov]age %all provide cov]age = & %all n impose any co/ %>+ requirem5ts = immunizations t _h 9 effect a recomm5dation f ! ,advisory ,committee on ,immunization ,practices ( ! ,c5t]s = ,disease ,control & ,prev5tion ) respect to ! individual involv$ z ( ,octob] #be1 #bjbd1 includ+ su* an immunization z updat$ or *ang$ aft] t date "u a supplem5t to a biologics lic5se application approv$ by ! ,food & ,drug ,adm9i/ration4 7b7 ,special rule ,subsection 7a7 %all n apply 9 ! case ( an immunization adm9i/]$ dur+ ! m9imum int]val e/abli%$ "u section #bgac7;b7 ) respect to su* immunization4 4 7,b7 ,con=m+ am5dm5t ,section #acjb7;e77#a77;,b77i7 ( ! ,pati5t ,protection & ,af=dable ,c>e ,act 7#db ,u4,s4,c4 #ahjbb7;e77#a77;,b77i77 is am5d$ by /rik+ section #bgac & ins]t+ sections #bgac & #bgii;,a-#aa ( ! ,public ,heal? ,s]vice ,act4 7#b7 ,,erisa 7,a7 ,9 g5]al ,subp>t ,b ( "p #g ( subtitle ,b ( title ,i ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #aahe et seq47 is am5d$ by add+ at ! end ! foll[+ new section3 #gbf4 ,cov]age ( c]ta9 immunizations recomm5d$ by ! ,advisory ,committee on ,immunization ,practices 7a7 ,9 g5]al ,) respect to plan ye>s occurr+ dur+ ! date ( ! enactm5t ( ?is section1 or beg9n+ on or aft] ! date ( ! enactm5t ( ?is section & be=e ,janu>y #a1 #bjcj1 a gr\p heal? plan & a heal? insurance issu] (f]+ gr\p heal? insurance cov]age %all provide cov]age = & %all n impose any co/ %>+ requirem5ts = immunizations t _h 9 effect a recomm5dation f ! ,advisory ,committee on ,immunization ,practices ( ! ,c5t]s = ,disease ,control & ,prev5tion ) respect to ! individual involv$ z ( ,octob] #be1 #bjbd1 includ+ su* an immunization z updat$ or *ang$ aft] t date "u a supplem5t to a biologics lic5se application approv$ by ! ,food & ,drug ,adm9i/ration4 7b7 ,special rule ,subsection 7a7 %all n apply 9 ! case ( an immunization adm9i/]$ dur+ ! m9imum int]val e/abli%$ "u section #bgac7;b7 ( ! ,public ,heal? ,s]vice ,act ) respect to su* immunization4 4 7,b7 ,cl]ical am5dm5t ,! table ( cont5ts 9 section #a ( ! ,employee ,retirem5t ,income ,security ,act ( #aigd 7#bi ,u4,s4,c4 #ajja note7 is am5d$ by ins]t+ aft] ! item relat+ to section #gbe ! foll[+ new item3 ,sec4 #gbf4 ,cov]age ( c]ta9 immunizations recomm5d$ by ! ,advisory ,committee on ,immunization ,practices4 4 7#c7 ,,irc 7,a7 ,9 g5]al ,sub*apt] ,b ( *apt] #ajj ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+ new section3 #ihbf4 ,cov]age ( c]ta9 immunizations recomm5d$ by ! ,advisory ,committee on ,immunization ,practices 7a7 ,9 g5]al ,) respect to plan ye>s occurr+ dur+ ! date ( ! enactm5t ( ?is section1 or beg9n+ on or aft] ! date ( ! enactm5t ( ?is section & be=e ,janu>y #a1 #bjcj1 a gr\p heal? plan %all provide cov]age = & %all n impose any co/ %>+ requirem5ts = immunizations t _h 9 effect a recomm5dation f ! ,advisory ,committee on ,immunization ,practices ( ! ,c5t]s = ,disease ,control & ,prev5tion ) respect to ! individual involv$ z ( ,octob] #be1 #bjbd1 includ+ su* an immunization z updat$ or *ang$ aft] t date "u a supplem5t to a biologics lic5se application approv$ by ! ,food & ,drug ,adm9i/ration4 7b7 ,special rule ,subsection 7a7 %all n apply 9 ! case ( an immunization adm9i/]$ dur+ ! m9imum int]val e/abli%$ "u section #bgac7;b7 ( ! ,public ,heal? ,s]vice ,act ) respect to su* immunization4 4 7,b7 ,cl]ical am5dm5t ,! table ( sections = sub*apt] ,b ( *apt] #ajj ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by add+ at ! end ! foll[+ new item3 ,sec4 #ihbf4 ,cov]age ( c]ta9 immunizations recomm5d$ by ! ,advisory ,committee on ,immunization ,practices4 4 7b7 ,m$ic>e ,section #ahfj;,d-#b7;b77#h77;,b7 ( ! ,social ,security ,act 7#db ,u4,s4,c4 #aciew-#ajb7;b77#h77;,b77 is am5d$-- 7#a7 by /rik+ ) recomm5dations & ins]t+ )-- 7i7 recomm5dations 2 7#b7 by /rik+ ! p]iod at ! end & ins]t+ 2 or2 & 7#c7 by add+ at ! end ! foll[+ new clause3 7ii7 = plan ye>s occurr+ dur+ ! date ( ! enactm5t ( ?is clause1 or beg9n+ on or aft] ! date ( ! enactm5t ( ?is clause & be=e ,janu>y #a1 #bjcj1 9 ! case ( a vacc9e ) respect to :i* su* a recomm5dation is revok$ ) respect to ! individual involv$ on or aft] ,octob] #be1 #bjbd1 includ+ su* a vacc9e z updat$ or *ang$ aft] t date "u a supplem5t to a biologics lic5se application approv$ by ! ,food & ,drug ,adm9i/ration1 ! mo/ rec5t recomm5dation t 0 9 effect ) respect to su* vacc9e & su* individual prior to su* revocation4 4 7c7 ,m$icaid 7#a7 ,9 g5]al ,section #aije ( ! ,social ,security ,act 7#db ,u4,s4,c4 #acif;d7 is am5d$-- 7,a7 9 subsection 7a77#ac77;,b7-- 7i7 by /rik+ individual1 approv$ & ins]t+ individual-- 7i7 approv$ 2 & 7ii7 by add+ at ! end ! foll[+ new clause3 7ii7 = ! p]iod beg9n+ on ! date ( ! enactm5t ( ?is clause & end+ on ,decemb] #ca1 #bjbi1 approv$ vacc9es1 & ! adm9i/ration ( su* vacc9es1 t 7 recomm5d$ by su* advisory committee ) respect to ! individual involv$ z ( ,octob] #be1 #bjbd1 includ+ su* a vacc9e z updat$ or *ang$ aft] t date "u a supplem5t to a biologics lic5se application approv$ by ! ,food & ,drug ,adm9i/ration4 2 & 7,b7 9 subsection 7r77#a77;,b77iii71 by-- 7i7 /rik+ section #aibh7;c77#b77;,b77i7 & ins]t+ clause 7i7 ( section #aibh7;c77#b77;,b72 & 7ii7 ins]t+ 1 subject to ! limitation describ$ 9 clause 7iii7 ( su* section aft] p$iatric vacc9es4 7#b7 ,cov]age = pregnant individuals ,section #aijb7;a77#aj7 ( ! ,social ,security ,act 7#db ,u4,s4,c4 #acif;a7a77#aj77 is am5d$ 9 ! matt] foll[+ subp>agraph 7,g7 by ins]t+ m$ical assi/ance = vacc9es describ$ 9 section #aije7;a77#ac77;,b7 & ! adm9i/ration ( su* vacc9es1 aft] complicate pregnancy14 7#c7 ,program = di/ribution ( p$iatric vacc9es ,section #aibh ( ! ,social ,security ,act 7#db ,u4,s4,c4 #acifs7 is am5d$-- 7,a7 9 subsection 7c77#b77;,b7-- 7i7 9 clause 7i71 by /rik+ clause 7ii7 & ins]t+ clauses 7ii7 & 7iii72 & 7ii7 by add+ at ! end ! foll[+ new clause3 7iii7 ,= ! p]iod beg9n+ on ! date ( ! enactm5t ( ?is clause & end+ on ,decemb] #ca1 #bjbi1 ! provid] w n take into acc\nt any *ange 9 ! s*$ule describ$ 9 clause 7i7 t removes ! recomm5dation to adm9i/] a p$iatric vacc9e ) respect to ! vacc9e-eligible *ild involv$ if su* p$iatric vacc9e 0 recomm5d$ ) respect to su* *ild "u su* s*$ule z ( ,octob] #be1 #bjbd1 includ+ ) respect to su* p$iatric vacc9e z updat$ or *ang$ aft] t date "u a supplem5t to a biologics lic5se application approv$ by ! ,food & ,drug ,adm9i/ration4 2 & 7,b7 9 subsection 7e71 by ins]t+ ,= purposes ( ! prec$+ s5t5ce1 dur+ ! p]iod beg9n+ on ! date ( ! enactm5t ( ?is s5t5ce & end+ on ,decemb] #ca1 #bjbi1 ! ,secret>y may n take into acc\nt any revision ( su* li/ t occurs on or aft] ,octob] #be1 #bjbd1 t removes a p$iatric vacc9e f su* li/ if su* vacc9e 0 includ$ 9 su* li/ z ( su* date1 includ+ ) respect to su* vacc9e z updat$ or *ang$ aft] t date "u a supplem5t to a biologics lic5se application approv$ by ! ,food & ,drug ,adm9i/ration4 aft] ! p]iod at ! end4 7#d7 ,/ate flexibility 9 b5efit packages ,section #aicg7;b7 ( ! ,social ,security ,act 7#db ,u4,s4,c4 #acifu-#g7;b77 is am5d$ by add+ at ! end ! foll[+ new p>agraph3 7#i7 ,cov]age ( adult vacc9es ,not)/&+ ! previ\s provisions ( ?is section1 a ,/ate may n provide = m$ical assi/ance ?r\gh enrollm5t ( an individual ) b5*m>k cov]age or b5*m>k-equival5t cov]age "u ?is section unless su* cov]age includes 7& does n impose any d$uction1 co/ %>+1 or simil> *>ge =7 ! m$ical assi/ance describ$ 9 section #aije7;a77#ac77;,b74 4 7d7 ,,*ip ,section #bajc ( ! ,social ,security ,act 7#db ,u4,s4,c4 #acig;cc7 is am5d$-- 7#a7 9 subsection 7c71 by add+ at ! end ! foll[+ new p>agraph3 7#ac7 ,requir$ cov]age ( c]ta9 vacc9es recomm5d$ by ! ,advisory ,committee on ,immunization ,practices ,reg>dless ( ! type ( cov]age elect$ by a ,/ate "u subsection 7a71 ! *ild heal? assi/ance provid$ = a t>get$ l[-income *ild %all include cov]age1 dur+ ! p]iod beg9n+ on ! date ( ! enactm5t ( ?is p>agraph & end+ on ,decemb] #ca1 #bjbi1 ( vacc9es1 & ! adm9i/ration ( su* vacc9es1 t _h 9 effect a recomm5dation f ! ,advisory ,committee on ,immunization ,practices ( ! ,c5t]s = ,disease ,control & ,prev5tion ) respect to ! *ild involv$ z ( ,octob] #be1 #bjbd1 includ+ su* a vacc9e z updat$ or *ang$ aft] t date "u a supplem5t to a biologics lic5se application approv$ by ! ,food & ,drug ,adm9i/ration4 2 & 7#b7 9 subsection 7e77#b71 by ins]t+ vacc9es describ$ 9 subsection 7c77#ac7 adm9i/]$ dur+ ! p]iod beg9n+ on ! date ( ! enactm5t ( su* subsection & end+ on ,decemb] #ca1 #bjbi 7& ! adm9i/ration ( su* vacc9es71 be=e s]vices describ$ 9 section #aiaf7;a77#b77;,g74