Sec. 3. Menstrual hygiene products refundable credit
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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: There shall be allowed as a credit against the tax imposed by this subtitle with respect to each eligible individual for whom the taxpayer is allowed a deduction under section 151 an amount equal to $120. In the case of any taxpayer whose modified adjusted gross income exceeds the threshold amount, the amount of the credit allowable under subsection
(a)shall be zero. For purposes of the preceding sentence, the term modified adjusted gross income means adjusted gross income increased by any amount excluded from gross income under section 911, 931, or 933. For purposes of paragraph (1), the term threshold amount means— $47,520 in the case of a joint return, $35,640 in the case of a head of household, and $23,760 in the case of a separate return. For purposes of this section— The term eligible individual means an individual who uses menstrual hygiene products. The term menstrual hygiene products shall be determined by the Secretary of Health and Human Services by regulation and provided to the Secretary, and shall include tampons, pads, liners, cups, and similar products used by women with respect to menstruation. For each taxable year beginning after 2017, the dollar amounts in subsections
(a)and (b)(2) shall each be increased by an amount equal to the product of— such dollar amount, and the cost-of-living adjustment determined under section 1(f)(3) for the calendar year, determined by substituting calendar year 2016 for calendar year 1992 in subparagraph
(B)thereof. If any increase determined under paragraph (1)— in the case of the dollar amount in subsection
(a)is not a multiple of $5, such increase shall be rounded to the next highest multiple of $5, and in the case of the dollar amount in subsection (b)(2), is not a multiple of $1,000, such increase shall be rounded to the next lowest multiple of $1,000. The Secretary shall prescribe such regulations as may be appropriate to carry out the purposes of this section. . 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. Menstrual hygiene products. . The amendments made by this section shall apply to taxable years beginning after December 31, 2016.