Sec. 201. Permanent extension of modifications to earned income tax credit
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Section 32(b)(1) of the Internal Revenue Code of 1986 is amended— by striking and inserting the following: Percentages .—The credit percentage and Percentages .— The credit percentage and ; and by adding at the end the following new subparagraph: In the case of an eligible individual with 3 or more qualifying children, the table in subparagraph
(A)shall be applied by substituting 45 for 40 in the second column thereof. . Section 32(b)(2)(B) of the Internal Revenue Code of 1986 is amended by striking increased by and all that follows and inserting increased by $5,000. . Section 32(j)(1)(B)(ii) of such Code is amended— by striking $3,000 and inserting $5,000 ; by striking subsection (b)(2)(B)(iii) and inserting subsection (b)(2)(B) ; and by striking calendar year 2007 and inserting calendar year 2008 . Section 32(b) of such Code is amended by striking paragraph (3). The amendments made by this section shall apply to taxable years beginning after December 31, 2015.