Sec. 402. Revisions to designation of income tax payments by individual taxpayers

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Section 6096(a) of the Internal Revenue Code of 1986 is amended— in the first sentence, by striking $3 each place it appears and inserting $20 ; and in the second sentence— by striking $6 and inserting $40 ; and by striking $3 and inserting $20 . Section 6096 of such Code is amended by adding at the end the following new subsection: With respect to each taxable year after 2017, each amount referred to in subsection

(a)shall be increased by the percent difference described in paragraph (2), except that if any such amount after such an increase is not a multiple of $1, such amount shall be rounded to the nearest multiple of $1. The percent difference described in this paragraph with respect to a taxable year is the percent difference determined under section 315(c)(1)(A) of the Federal Election Campaign Act of 1971 with respect to the calendar year during which the taxable year begins, except that the base year involved shall be 2016. . Section 6096 of such Code, as amended by subsection (b), is amended by adding at the end the following new subsection: The Secretary shall promulgate regulations to ensure that electronic software used in the preparation or filing of individual income tax returns does not automatically accept or decline a designation of a payment under this section. . Section 6096 of such Code, as amended by subsections

(b)and (c), is amended by adding at the end the following new subsection: The Federal Election Commission shall conduct a program to inform and educate the public regarding the purposes of the Presidential Election Campaign Fund, the procedures for the designation of payments under this section, and the effect of such a designation on the income tax liability of taxpayers. Amounts in the Presidential Election Campaign Fund shall be made available to the Federal Election Commission to carry out the program under this subsection. . The amendments made by this section shall take effect January 1, 2017.