Sec. 3. Periodic adjustments to thresholds to account for future increases in current-dollar United States Gross Domestic Product
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By April 1, 2031, and the 1st day of each subsequent 5-year period, the Board of Governors of the Federal Reserve System shall prescribe the amount by which each dollar amount described in section 2 of this Act shall be increased by the ratio, if greater than 1, of the annual value of current-dollar United States gross domestic product, published by the Department of Commerce, for the calendar year preceding the year in which the adjustment is calculated under this section, to the published annual value of such index for the calendar year preceding April 1, 2026. The values used in the calculation under subsection
(a)shall be, as of the date of the calculation, the values most recently published by the Department of Commerce. If any amount equal to or greater than $100,000,000,000 determined under subsection
(a)for any period is not a multiple of $50,000,000,000, the amount shall be rounded up to the nearest $50,000,000,000. If any amount less than $100,000,000,000 but equal to or greater than $10,000,000,000 determined under subsection
(a)for any period is not a multiple of $5,000,000,000, the amount shall be rounded up to the nearest $5,000,000,000. If any amount less than $10,000,000,000 but equal to or greater than $1,000,000,000 determined under subsection
(a)for any period is not a multiple of $500,000,000, the amount shall be rounded up to the nearest $500,000,000. If any amount less than $1,000,000,000 but equal to or greater than $100,000,000 determined under subsection
(a)for any period is not a multiple of $50,000,000, the amount shall be rounded up to the nearest $50,000,000. If any amount less than $100,000,000 but equal to or greater than $10,000,000 determined under subsection
(a)for any period is not a multiple of $5,000,000, the amount shall be rounded up to the nearest $5,000,000. If any amount less than $10,000,000 but equal to or greater than $1,000,000 determined under subsection
(a)for any period is not a multiple of $500,000, the amount shall be rounded up to the nearest $500,000. If any amount less than $1,000,000 but equal to or greater than $100,000 determined under subsection
(a)for any period is not a multiple of $50,000, the amount shall be rounded up to the nearest $50,000. If any amount less than $100,000 but equal to or greater than $10,000 determined under subsection
(a)for any period is not a multiple of $5,000, the amount shall be rounded up to the nearest $5,000. If any amount less than $10,000 but equal to or greater than $1,000 determined under subsection
(a)for any period is not a multiple of $500, the amount shall be rounded up to the nearest $500. If any amount less than $1,000 but equal to or greater than $100 determined under subsection
(a)for any period is not a multiple of $50, the amount shall be rounded up to the nearest $50. If any amount less than $100 but equal to or greater than $10 determined under subsection
(a)for any period is not a multiple of $5, the amount shall be rounded up to the nearest $5. If any amount less than $10 but equal to or greater than $1 determined under subsection
(a)for any period is not a multiple of $0.50, the amount shall be rounded up to the nearest $0.50. Not later than April 5 of any calendar year in which an adjustment is required to be calculated under subsection (a), the Board of Governors of the Federal Reserve System shall publish in the Federal Register the dollar amounts as so calculated. The increase in the dollar amounts shall take effect on January 1 of the year immediately succeeding any calendar year in which an adjustment is required to be calculated under subsection (a).