Sec. 101. Refundable credit for grassroots contributions to Federal congressional candidates
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Subpart C of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 (relating to refundable credits) is amended by inserting after section 36B the following new section: In the case of an individual, there shall be allowed as a credit against the tax imposed by this subtitle an amount equal to the qualified grassroots Federal congressional campaign contributions paid or incurred by the taxpayer during the taxable year. The credit allowed under subsection
(a)to any taxpayer with respect to any taxable year shall not exceed $25 (twice such amount in the case of a joint return). No credit shall be allowed under this section to any taxpayer for any taxable year if such taxpayer made aggregate contributions in excess of $200 (twice such amount in the case of a joint return) during the taxable year to— any single Federal congressional candidate, or any political committee established and maintained by a national political party. No credit shall be allowed under this section with respect to any individual for any taxable year during which such individual submitted a Grassroots Democracy Coupon under subtitle B of title I of the Grassroots Democracy Act of 2013 to a candidate for election for Federal office. In the case of a joint return with respect to which this paragraph applies to one of the spouses, such return shall not be treated as a joint return for purposes of determining the dollar limitation under paragraph (1). For purposes of this section, the term qualified grassroots Federal congressional campaign contribution means any contribution of cash by an individual to a Federal congressional candidate or to a political committee established and maintained by a national political party if such contribution is not prohibited under the Federal Election Campaign Act of 1971. For purposes of this section— The term Federal congressional candidate means any candidate for election to the office of Senator or Representative in, or Delegate or Resident Commissioner to, the Congress. Any contribution made to an authorized committee of a Federal congressional candidate shall be treated as made to such candidate. In the case of a taxable year beginning after 2014, the $25 amount under subsection (b)(1) shall be increased by an amount equal to— such dollar amount, multiplied by the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, determined by substituting calendar year 2013 for calendar year 1992 in subparagraph
(B)thereof. If any amount as adjusted under subparagraph
(A)is not a multiple of $5, such amount shall be rounded to the nearest multiple of $5. . Section 6211(b)(4)(A) of such Code is amended by inserting 36C, after 36B, . Section 1324(b)(2) of title 31, United States Code, is amended by inserting 36C, after 36B, . The table of sections for subpart C of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after the item relating to section 36B the following new item: Sec. 36C. Credit for grassroots contributions to Federal congressional candidates. . The Secretary of the Treasury, or his designee, shall ensure that the credit for grassroots contributions to Federal congressional candidates allowed under section 36C of the Internal Revenue Code of 1986, as added by this section, may be claimed on Forms 1040EZ and 1040A. The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.