Sec. 204. Increases in State allocations
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/bill/117/s/2820/is/section-204·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Clause
(ii)of section 42(h)(3)(C) of the Internal Revenue Code of 1986 is amended— by striking $1.75 in subclause
(I)and inserting $4.92 ($3.88 in the case of calendar year 2021) ; and by striking $2,000,000 in subclause
(II)and inserting $5,670,462 ($4,462,734 in the case of calendar year 2021) . Subparagraph
(H)of section 42(h)(3) of such Code is amended— by striking 2002 in clause
(i)and inserting 2022 ; by striking the $2,000,000 and $1.75 amounts in subparagraph
(C)in clause
(i)and inserting the dollar amounts applicable to such calendar year under subclauses
(I)and
(II)of subparagraph (C)(ii) ; by striking 2001 in clause (i)(II) and inserting 2021 ; by striking $2,000,000 amount in clause (ii)(I) and inserting amount under subparagraph (C)(ii)(II) ; and by striking $1.75 amount in clause (ii)(II) and inserting amount under subparagraph (C)(ii)(I) . The amendments made by this section shall apply to calendar years beginning after December 31, 2020.