,i  #aai? ,,congress  #b;d ,session  ,h4
 ,r4 #gehd  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,febru>y #ac1         
#bjbf,ms4 ,rivas introduc$ ! foll[+     
bill2 :i* 0 ref]r$ to ! ,committee on   
,ways & ,means  ,a ,,bill  ,to am5d !   
,int]nal ,rev5ue ,code ( #aihf to all[ a
 cr$it aga9/ tax = qualifi$             
multig5]ational h\s+ exp5ses1 & = o!r   
purposes4  #a4 ,%ort title  ,?is ,act   
may be cit$ z ! ,multig5]ational ,family
 ,tax ,cr$it ,act ( #bjbf4  #b4 ,cr$it =
 qualifi$ multig5]ational h\s+ exp5ses  
7a7 ,9 g5]al ,subp>t ,a ( "p ,,iv (     
sub*apt] ,a ( *apt] #a ( ! ,int]nal     
,rev5ue ,code ( #aihf is am5d$ by ins]t+
 aft] section #be;,f ! foll[+ new       
section3  #be;,g4 ,qualifi$             
multig5]ational h\s+ exp5ses  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 ! aggregate am\nt 
( qualifi$ multig5]ational h\s+ exp5ses 
paid or incurr$ by ! taxpay] dur+ su*   
taxable ye>4  7b7 ,limitations  7#a7    

,doll> limitation ,! cr$it all[$ "u     
subsection 7a7 to any taxpay] = any     
taxable ye> %all n exce$ #h1jjj4  7#b7  
,limitation bas$ on modifi$ adju/$ gross
 income ,! am\nt ( ! cr$it all[$ "u     
subsection 7a7 = any taxable ye> %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$s #bjj1jjj 7#djj1jjj 9 ! case ( a  
jo9t return74 ,= purposes ( ! prec$+    
s5t5ce1 ! t]m modifi$ adju/$ gross      
income means adju/$ gross income        
increas$ by any am\nt exclud$ f gross   
income "u section #iaa1 #ica1 or #icc4  
7c7 ,qualifi$ multig5]ational h\s+      
exp5ses ,= purposes ( ?is section-- 7#a7
 ,9 g5]al ,! t]m qualifi$               
multig5]ational h\s+ exp5ses means1 )   
respect to any taxpay]1 any exp5ses :i* 
are directly relat$ to improv+ ! safety1
 mobility1 or accessibility ( ! pr9cipal
 resid5ce ( ! taxpay] = purposes (      
support+ any qualifi$ relative ( su*    
taxpay]4  7#b7 ,qualifi$ relative  7,a7 

,9 g5]al ,! t]m qualifi$ relative means1
 ) respect to any taxpay] = any taxable 
ye>1 an individual-- 7i7 :o be>s a      
relation%ip describ$ 9 subp>agraph 7,b7 
to su* taxpay] or to su* taxpay]'s      
sp\se1  7ii7 :o-- 7,i7 has atta9$ age   
#fe z ( ! la/ day ( su* taxable ye>1 or 
7,,ii7 is disabl$ 7)9 ! mean+ ( section 
#gb7m77#g771 &  7iii7 :o has ! same     
pr9cipal place ( abode z su* taxpay] = m
 ?an "o-half ( su* taxable ye>4  7,b7   
,relation%ip ,= purposes ( subp>agraph  
7,a71 a relation%ip describ$ 9 ?is      
subp>agraph is a relation%ip describ$ 9 
subp>agraph 7,b71 7,c71 7,d71 7,f71 or  
7,g7 ( section #aeb7;d77#b71 except t   
only a fa!r-9-law1 "m-9-law1            
bro!r-9-law1 or si/]-9-law %all be tak5 
into acc\nt = purposes ( subp>agraph    
7,g7 !re(4  7#c7 ,pr9cipal resid5ce ,!  
t]m pr9cipal resid5ce has ! same mean+ z
 :5 us$ 9 section #aba4  7d7 ,portion ( 
cr$it made refundable ,fifty p]c5t ( s  
mu* ( ! cr$it all[$ "u subsection 7a7   
7det]m9$ aft] application ( subsection  

7b7 & )\t reg>d to ?is subsection &     
section #bf7;a77 %all be treat$ z a     
cr$it all[able "u subp>t ,c 7& n all[$  
"u subsection 7a774  7e7 ,d5ial ( d\ble 
b5efit ,9 ! case ( any qualifi$         
multig5]ational h\s+ exp5ses ) 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 any su*
 exp5se to ! ext5t ( ! am\nt ( su*      
cr$it1 &  7#b7 ! basis ( any prop]ty    
%all be r$uc$ by ! am\nt ( su* cr$it to 
! ext5t t su* exp5ses 7 tak5 into acc\nt
 9 det]m9+ su* basis4  7f7 ,inflation   
adju/m5t ,9 ! case ( any taxable ye>    
beg9n+ aft] #bjbg1 ! doll> am\nt 9      
subsection 7b77#a7 %all be increas$ 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> #bjbf =
 cal5d> ye> #bjaf 9 subp>agraph 7,a77ii7
 !re(4  ,if any increase "u ! prec$+    
s5t5ce is n a multiple ( #ajj1 su* am\nt

 %all be r\nd$ to ! ne>e/ multiple (    
#ajj4  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
 section4  4  7b7 ,con=m+ am5dm5ts  7#a7
 ,section #acbd7;b77#b7 ( title #ca1    
,unit$ ,/ates ,code1 is am5d$ by ins]t+ 
#be;,g1 aft] #be;,a14  7#b7 ,section    
#fbaa7;b77#d77;,a7 ( ! ,int]nal ,rev5ue 
,code ( #aihf is am5d$ by ins]t+ 1      
#be;,g by reason ( subsection 7d7 !re(  
be=e 1 #cb4  7#c7 ,! table ( sections = 
subp>t ,a ( "p ,,iv ( sub*apt] ,a (     
*apt] #a ( su* ,code is am5d$ by ins]t+ 
aft] ! item relat+ to section #be;,f !  
foll[+ new item3  ,sec4 #be;,g4         
,qualifi$ multig5]ational h\s+ exp5ses4 
4  7c7 ,effective date ,! am5dm5ts made 
by ?is section %all apply to taxable    
ye>s beg9n+ aft] ,decemb] #ca1 #bjbf4