Sec. 137307. Exclusion of certain dependent income for purposes of premium tax credit
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(2)of section 36B(d) of the Internal Revenue Code of 1986, as amended by this Act, is further amended by adding at the end the following new subparagraph: Solely for purposes of determining the credit under this section and eligibility for cost sharing reductions under section 1402 of the Patient Protection and Affordable Care Act, and not for any other purpose (including any determination of income for purposes of the programs established under titles XIX and XXI of the Social Security Act and section 1331 of the Patient Protection and Affordable Care Act), there shall not be taken into account under subparagraph (A)(ii) the modified adjusted gross income of any dependent of the taxpayer who has not attained age 24 as of the last day of the calendar year in which the taxable year of the taxpayer begins. Clause
(i)shall not apply to so much of the aggregate of the modified adjusted gross income of all dependents of the taxpayer who have not attained the age described in such clause as exceeds $3,500. In the case of any taxable year beginning after December 31, 2025, a taxpayer may elect (at such time and in such manner as the Secretary may provide) to have this subparagraph not apply with respect to the income of any dependent of the taxpayer for such taxable year. In the case of any taxable year beginning after December 31, 2023, the $3,500 amount in clause
(ii)shall be increased by an amount equal to— such 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 2022 for calendar year 2016 in subparagraph (A)(ii) thereof. If any increase determined under the preceding sentence is not a multiple of $100, such increase shall be rounded to the next lowest multiple of $100. This subparagraph shall not apply to taxable years beginning after December 31, 2026. . Clause
(ii)of section 36B(d)(2)(A) of the Internal Revenue Code of 1986 is amended by inserting , except as provided in subparagraph (D), after individuals . Paragraph
(3)of section 1411(b) of the Patient Protection and Affordable Care Act ( 42 U.S.C. 18081 ) is amended by adding at the end the following new subparagraph: In the case of taxable years beginning before January 1, 2027, information regarding whether section 36B(d)(2)(D) will apply to any individuals taken into account as members of the household of the enrollee, and the amount of income of each such individual for the taxable year described in subparagraph (A). . The amendments made by this section shall apply to taxable years beginning after December 31, 2022.
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Sec. 137307
Exclusion of certain dependent income for purposes of premium tax credit
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