Us Congress 2023-2024 Regular Session

Us Congress House Bill HB976 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	I
2	2	118THCONGRESS
3	3	1
4	4	STSESSION H. R. 976
5	5	To amend the Internal Revenue Code of 1986 to make permanent certain
6	6	provisions of the Tax Cuts and Jobs Act affecting individuals, families,
7	7	and small businesses, and for other purposes.
8	8	IN THE HOUSE OF REPRESENTATIVES
9	9	FEBRUARY10, 2023
10	10	Mr. B
11	11	UCHANAN(for himself, Mr. PERRY, Mr. JOYCEof Ohio, Mr. HERN, Mr.
12	12	K
13	13	ELLYof Pennsylvania, Ms. VANDUYNE, Mrs. MILLERof West Virginia,
14	14	Mr. A
15	15	RRINGTON, Mr. SMITHof Nebraska, Mr. FERGUSON, Mr.
16	16	F
17	17	EENSTRA, Ms. TENNEY, Mr. KUSTOFF, Mr. AMODEI, Mr. MEUSER, Mr.
18	18	C
19	19	RAWFORD, Mrs. MILLER-MEEKS, Mr. RESCHENTHALER, Mr. GAETZ,
20	20	Mrs. C
21	21	AMMACK, Mr. STEIL, Mr. HIGGINSof Louisiana, Mr. MCCAUL,
22	22	Mr. B
23	23	ALDERSON, Mr. MOOLENAAR, Mrs. WAGNER, Mr. GRAVESof Lou-
24	24	isiana, Mr. T
25	25	IMMONS, Mr. LATURNER, Mr. JOHNSONof Louisiana, Ms.
26	26	S
27	27	ALAZAR, Mr. KELLYof Mississippi, Mr. WALTZ, Mr. MOONEY, Mr.
28	28	B
29	29	ISHOPof North Carolina, Mr. WILLIAMSof New York, Mr. JOHNSON
30	30	of Ohio, Mrs. L
31	31	UNA, Mr. FITZGERALD, Mr. OWENS, Mr. MOOREof Ala-
32	32	bama, Mr. F
33	33	INSTAD, Mr. CAREY, Mr. ALLEN, Mr. EMMER, Mr. MILLER
34	34	of Ohio, Mr. D
35	35	ONALDS, Mr. JACKSONof Texas, Mr. VANDREW, Mr.
36	36	M
37	37	OYLAN, Mr. GIMENEZ, Mr. MORAN, Mr. BOST, Mr. AUSTINSCOTTof
38	38	Georgia, Mr. M
39	39	ANN, Mr. MOOREof Utah, Mr. MAST, Mrs. FISCHBACH,
40	40	Mr. N
41	41	UNNof Iowa, Mr. RUTHERFORD, Mr. EZELL, Mr. DUARTE, Mr.
42	42	G
43	43	OODENof Texas, Mr. BUCSHON, Mr. OGLES, Ms. LEEof Florida, Mr.
44	44	P
45	45	OSEY, Mr. ELLZEY, Mr. GUEST, Mr. ESTES, Mr. CARTERof Georgia,
46	46	Mr. W
47	47	ILLIAMSof Texas, and Mrs. MILLERof Illinois) introduced the fol-
48	48	lowing bill; which was referred to the Committee on Ways and Means
49	49	A BILL
50	50	To amend the Internal Revenue Code of 1986 to make
51	51	permanent certain provisions of the Tax Cuts and Jobs
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54	54	•HR 976 IH
55	55	Act affecting individuals, families, and small businesses,
56	56	and for other purposes.
57	57	Be it enacted by the Senate and House of Representa-1
58	58	tives of the United States of America in Congress assembled, 2
59	59	SECTION 1. SHORT TITLE, ETC. 3
60	60	(a) S
61	61	HORTTITLE.—This Act may be cited as the 4
62	62	‘‘TCJA Permanency Act’’. 5
63	63	(b) A
64	64	MENDMENT OF 1986 CODE.—Except as other-6
65	65	wise expressly provided, whenever in this Act an amend-7
66	66	ment or repeal is expressed in terms of an amendment 8
67	67	to, or repeal of, a section or other provision, the reference 9
68	68	shall be considered to be made to a section or other provi-10
69	69	sion of the Internal Revenue Code of 1986. 11
70	70	(c) R
71	71	EFERENCES TO THE TAXCUTS ANDJOBS 12
72	72	A
73	73	CT.—Title I of Public Law 115–97 may be cited as the 13
74	74	‘‘Tax Cuts and Jobs Act’’. 14
75	75	(d) T
76	76	ABLE OFCONTENTS.—The table of contents of 15
77	77	this Act is as follows: 16
78	78	Sec. 1. Short title, etc.
79	79	TITLE I—INDIVIDUAL REFORM MADE PERMANENT
80	80	Subtitle A—Rate Reform
81	81	Sec. 101. Modification of rates.
82	82	Subtitle B—Deduction for Qualified Business Income of Pass-Thru Entities
83	83	Sec. 111. Deduction for qualified business income.
84	84	Sec. 112. Limitation on losses for taxpayers other than corporations.
85	85	Subtitle C—Tax Benefits for Families and Individuals
86	86	Sec. 121. Increase in standard deduction.
87	87	Sec. 122. Increase in and modification of child tax credit.
88	88	Sec. 123. Increased limitation for certain charitable contributions.
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91	91	•HR 976 IH
92	92	Sec. 124. Increased contributions to ABLE accounts.
93	93	Sec. 125. Rollovers to ABLE programs from 529 programs.
94	94	Sec. 126. Treatment of certain individuals performing services in the Sinai Pe-
95	95	ninsula of Egypt.
96	96	Subtitle D—Education
97	97	Sec. 131. Treatment of student loan discharges.
98	98	Sec. 132. 529 account funding for homeschool and additional elementary and
99	99	secondary expenses.
100	100	Subtitle E—Deductions and Exclusions
101	101	Sec. 141. Repeal of deduction for personal exemptions.
102	102	Sec. 142. Limitation on deduction for State and local, etc., taxes.
103	103	Sec. 143. Limitation on deduction for qualified residence interest.
104	104	Sec. 144. Modification of deduction for personal casualty losses.
105	105	Sec. 145. Termination of miscellaneous itemized deductions.
106	106	Sec. 146. Repeal of overall limitation on itemized deductions.
107	107	Sec. 147. Termination of exclusion for qualified bicycle commuting reimburse-
108	108	ment.
109	109	Sec. 148. Qualified moving expense reimbursement exclusion limited to mem-
110	110	bers of Armed Forces.
111	111	Sec. 149. Deduction for moving expenses limited to members of Armed Forces.
112	112	Sec. 150. Limitation on wagering losses.
113	113	Subtitle F—Increase in Estate and Gift Tax Exemption
114	114	Sec. 151. Increase in estate and gift tax exemption.
115	115	TITLE II—INCREASED EXEMPTION FOR ALTERNATIVE MINIMUM
116	116	TAX MADE PERMANENT
117	117	Sec. 201. Increased exemption for individuals.
118	118	TITLE I—INDIVIDUAL REFORM 1
119	119	MADE PERMANENT 2
120	120	Subtitle A—Rate Reform 3
121	121	SEC. 101. MODIFICATION OF RATES. 4
122	122	(a) M
123	123	ARRIEDINDIVIDUALSFILINGJOINTRETURNS 5
124	124	ANDSURVIVINGSPOUSES.—Section 1(a) is amended by 6
125	125	striking the table contained therein and inserting the fol-7
126	126	lowing: 8
127	127	‘‘If taxable income is: The tax is:
128	128	Not over $19,050 ...................................... 10% of taxable income.
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131	131	•HR 976 IH
132	132	‘‘If taxable income is: The tax is:
133	133	Over $19,050 but not over $77,400 .......... $1,905, plus 12% of the excess over
134	134	$19,050.
135	135	Over $77,400 but not over $165,000 ........ $8,907, plus 22% of the excess over
136	136	$77,400.
137	137	Over $165,000 but not over $315,000 ...... $28,179, plus 24% of the excess
138	138	over $165,000.
139	139	Over $315,000 but not over $400,000 ...... $64,179, plus 32% of the excess
140	140	over $315,000.
141	141	Over $400,000 but not over $600,000 ...... $91,379, plus 35% of the excess
142	142	over $400,000.
143	143	Over $600,000 ........................................... $161,379, plus 37% of the excess
144	144	over $600,000.’’.
145	145	(b) HEADS OF HOUSEHOLDS.—Section 1(b) is 1
146	146	amended by striking the table contained therein and in-2
147	147	serting the following: 3
148	148	‘‘If taxable income is: The tax is:
149	149	Not over $13,600 ...................................... 10% of taxable income.
150	150	Over $13,600 but not over $51,800 .......... $1,360, plus 12% of the excess over
151	151	$13,600.
152	152	Over $51,800 but not over $82,500 .......... $5,944, plus 22% of the excess over
153	153	$51,800.
154	154	Over $82,500 but not over $157,500 ........ $12,698, plus 24% of the excess
155	155	over $82,500.
156	156	Over $157,500 but not over $200,000 ...... $30,698, plus 32% of the excess
157	157	over $157,500.
158	158	Over $200,000 but not over $500,000 ...... $44,298, plus 35% of the excess
159	159	over $200,000.
160	160	Over $500,000 ........................................... $149,298, plus 37% of the excess
161	161	over $500,000.’’.
162	162	(c) UNMARRIEDINDIVIDUALSOTHERTHANSUR-4
163	163	VIVINGSPOUSES ANDHEADS OFHOUSEHOLDS.—Section 5
164	164	1(c) is amended by striking the table contained therein 6
165	165	and inserting the following: 7
166	166	‘‘If taxable income is: The tax is:
167	167	Not over $9,525 ........................................ 10% of taxable income.
168	168	Over $9,525 but not over $38,700 ............ $952.50, plus 12% of the excess
169	169	over $9,525.
170	170	Over $38,700 but not over $82,500 .......... $4,453.50, plus 22% of the excess
171	171	over $38,700.
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174	174	•HR 976 IH
175	175	‘‘If taxable income is: The tax is:
176	176	Over $82,500 but not over $157,500 ........ $14,089.50, plus 24% of the excess
177	177	over $82,500.
178	178	Over $157,500 but not over $200,000 ...... $32,089.50, plus 32% of the excess
179	179	over $157,500.
180	180	Over $200,000 but not over $500,000 ...... $45,689.50, plus 35% of the excess
181	181	over $200,000.
182	182	Over $500,000 ........................................... $150,689.50, plus 37% of the ex-
183	183	cess over $500,000.’’.
184	184	(d) MARRIEDINDIVIDUALSFILINGSEPARATERE-1
185	185	TURNS.—Section 1(d) is amended by striking the table 2
186	186	contained therein and inserting the following: 3
187	187	‘‘If taxable income is: The tax is:
188	188	Not over $9,525 ........................................ 10% of taxable income.
189	189	Over $9,525 but not over $38,700 ............ $952.50, plus 12% of the excess
190	190	over $9,525.
191	191	Over $38,700 but not over $82,500 .......... $4,453.50, plus 22% of the excess
192	192	over $38,700.
193	193	Over $82,500 but not over $157,500 ........ $14,089.50, plus 24% of the excess
194	194	over $82,500.
195	195	Over $157,500 but not over $200,000 ...... $32,089.50, plus 32% of the excess
196	196	over $157,500.
197	197	Over $200,000 but not over $300,000 ...... $45,689.50, plus 35% of the excess
198	198	over $200,000.
199	199	Over $300,000 ........................................... $80,689.50, plus 37% of the excess
200	200	over $300,000.’’.
201	201	(e) ESTATES ANDTRUSTS.—Section 1(e) is amended 4
202	202	by striking the table contained therein and inserting the 5
203	203	following: 6
204	204	‘‘If taxable income is: The tax is:
205	205	Not over $2,550 ........................................ 10% of taxable income.
206	206	Over $2,550 but not over $9,150 .............. $255, plus 24% of the excess over
207	207	$2,550.
208	208	Over $9,150 but not over $12,500 ............ $1,839, plus 35% of the excess over
209	209	$9,150.
210	210	Over $12,500 ............................................. $3,011.50, plus 37% of the excess
211	211	over $12,500.’’.
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214	214	•HR 976 IH
215	215	(f) INFLATIONADJUSTMENTS.—Section 1(f) is 1
216	216	amended— 2
217	217	(1) by amending paragraph (2)(A) to read as 3
218	218	follows: 4
219	219	‘‘(A) by increasing the minimum and max-5
220	220	imum dollar amounts for each bracket for 6
221	221	which a tax is imposed under such table by the 7
222	222	cost-of-living adjustment for such calendar year, 8
223	223	determined under this subsection for such cal-9
224	224	endar year by substituting ‘2017’ for ‘2016’ in 10
225	225	paragraph (3)(A)(ii),’’, 11
226	226	(2) by amending paragraph (7) to read as fol-12
227	227	lows: 13
228	228	‘‘(7) R
229	229	OUNDING.— 14
230	230	‘‘(A) I
231	231	N GENERAL.—Except as provided in 15
232	232	subparagraph (B), if any increase determined 16
233	233	under paragraph (2)(A) is not a multiple of 17
234	234	$25, such increase shall be rounded to the next 18
235	235	lowest multiple of $25. 19
236	236	‘‘(B) J
237	237	OINT RETURNS, ETC.—In the case 20
238	238	of a table prescribed under subsection (a), sub-21
239	239	paragraph (A) shall be applied by substituting 22
240	240	‘$50’ for ‘$25’ both places it appears.’’, 23
241	241	(3) by striking paragraph (8), and 24
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244	244	•HR 976 IH
245	245	(4) in the heading, by striking ‘‘PHASEOUT OF 1
246	246	M
247	247	ARRIAGEPENALTY IN15-PERCENTBRACKET; AD-2
248	248	JUSTMENTS’’ and inserting ‘‘ADJUSTMENTS’’. 3
249	249	(g) A
250	250	PPLICATION OFINCOMETAXBRACKETS TO 4
251	251	C
252	252	APITALGAINSBRACKETS.—Section 1(h) is amended— 5
253	253	(1) in paragraph (1)(B)(i), by striking ‘‘25 per-6
254	254	cent’’ and inserting ‘‘22 percent’’, 7
255	255	(2) in paragraph (1)(C)(ii)(I), by striking 8
256	256	‘‘which would (without regard to this paragraph) be 9
257	257	taxed at a rate below 39.6 percent’’ and inserting 10
258	258	‘‘below the maximum 15-percent rate amount’’, and 11
259	259	(3) by adding at the end the following new 12
260	260	paragraphs: 13
261	261	‘‘(12) M
262	262	AXIMUM 15-PERCENT RATE AMOUNT 14
263	263	DEFINED.—For purposes of this subsection, the 15
264	264	maximum 15-percent rate amount shall be— 16
265	265	‘‘(A) in the case of a joint return or sur-17
266	266	viving spouse (as defined in section 2(a)), 18
267	267	$479,000 (
268	268	1
269	269	⁄2such amount in the case of a 19
270	270	married individual filing a separate return), 20
271	271	‘‘(B) in the case of an individual who is a 21
272	272	head of household (as defined in section 2(b)), 22
273	273	$452,400, 23
274	274	‘‘(C) in the case of any other individual 24
275	275	(other than an estate or trust), $425,800, and 25
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278	278	•HR 976 IH
279	279	‘‘(D) in the case of an estate or trust, 1
280	280	$12,700. 2
281	281	‘‘(13) D
282	282	ETERMINATION OF 0 PERCENT RATE 3
283	283	BRACKET FOR ESTATES AND TRUSTS .—In the case 4
284	284	of any estate or trust, paragraph (1)(B) shall be ap-5
285	285	plied by treating the amount determined in clause (i) 6
286	286	thereof as being equal to $2,600. 7
287	287	‘‘(14) I
288	288	NFLATION ADJUSTMENT .— 8
289	289	‘‘(A) I
290	290	N GENERAL.—Each of the dollar 9
291	291	amounts in paragraphs (12) and (13) shall be 10
292	292	increased by an amount equal to— 11
293	293	‘‘(i) such dollar amount, multiplied by 12
294	294	‘‘(ii) the cost-of-living adjustment de-13
295	295	termined under subsection (f)(3) for the 14
296	296	calendar year in which the taxable year be-15
297	297	gins, determined by substituting ‘calendar 16
298	298	year 2017’ for ‘calendar year 2016’ in sub-17
299	299	paragraph (A)(ii) thereof. 18
300	300	‘‘(B) R
301	301	OUNDING.—If any increase under 19
302	302	subparagraph (A) is not a multiple of $50, such 20
303	303	increase shall be rounded to the next lowest 21
304	304	multiple of $50.’’. 22
305	305	(h) C
306	306	ONFORMINGAMENDMENTS.— 23
307	307	(1) Section 1 is amended by striking sub-24
308	308	sections (i) and (j). 25
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311	311	•HR 976 IH
312	312	(2) Section 3402(q)(1) is amended by striking 1
313	313	‘‘third lowest’’ and inserting ‘‘fourth lowest’’. 2
314	314	(i) A
315	315	PPLICATION OFSECTION15.— 3
316	316	(1) I
317	317	N GENERAL.—Subsection (a) of section 15 4
318	318	is amended by striking ‘‘If any rate of tax’’ and in-5
319	319	serting ‘‘In the case of a corporation, if any rate of 6
320	320	tax’’. 7
321	321	(2) C
322	322	ONFORMING AMENDMENTS .— 8
323	323	(A) Section 15 is amended by striking sub-9
324	324	sections (d) and (f). 10
325	325	(B) Section 6013(c) is amended by strik-11
326	326	ing ‘‘sections 15, 443, and 7851(a)(1)(A)’’ and 12
327	327	inserting ‘‘section 443’’. 13
328	328	(C) The heading of section 15 is amended 14
329	329	by inserting ‘‘
330	330	ON CORPORATIONS ’’ after ‘‘EF-15
331	331	FECT OF CHANGES ’’. 16
332	332	(D) The table of sections for part III of 17
333	333	subchapter A of chapter 1 is amended by strik-18
334	334	ing the item relating to section 15 and inserting 19
335	335	the following new item: 20
336	336	‘‘Sec. 15. Effect of changes on corporations.’’.
337	337	(j) EFFECTIVEDATE.— 21
338	338	(1) I
339	339	N GENERAL.—The amendments made by 22
340	340	this section shall apply to taxable years beginning 23
341	341	after the date of the enactment of this Act. 24
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344	344	•HR 976 IH
345	345	(2) APPLICATION OF SECTION 15 .—Section 15 1
346	346	of the Internal Revenue Code of 1986 shall not 2
347	347	apply to any change in a rate of tax by reason of— 3
348	348	(A) section 1(j) of such Code (as in effect 4
349	349	before its repeal by this section), or 5
350	350	(B) any amendment made by this Act. 6
351	351	Subtitle B—Deduction for Quali-7
352	352	fied Business Income of Pass- 8
353	353	Thru Entities 9
354	354	SEC. 111. DEDUCTION FOR QUALIFIED BUSINESS INCOME. 10
355	355	(a) I
356	356	NGENERAL.—Section 199A is amended by 11
357	357	striking subsection (i). 12
358	358	(b) E
359	359	FFECTIVEDATE.—The amendments made by 13
360	360	this section shall apply to taxable years beginning after 14
361	361	the date of the enactment of this Act. 15
362	362	SEC. 112. LIMITATION ON LOSSES FOR TAXPAYERS OTHER 16
363	363	THAN CORPORATIONS. 17
364	364	(a) I
365	365	NGENERAL.—Section 461 is amended— 18
366	366	(1) by amending subsection (l)(1) to read as 19
367	367	follows: 20
368	368	‘‘(1) L
369	369	IMITATION.—In the case of a taxpayer 21
370	370	other than a corporation, any excess business loss of 22
371	371	the taxpayer for the taxable year shall not be al-23
372	372	lowed.’’, and 24
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375	375	•HR 976 IH
376	376	(2) by striking subsection (j) and redesignating 1
377	377	subsections (k) and (l) (as amended) as subsections 2
378	378	(j) and (k), respectively. 3
379	379	(b) C
380	380	ONFORMINGAMENDMENTS.— 4
381	381	(1) Section 58(a)(2)(A) is amended by striking 5
382	382	‘‘461(k)’’ and inserting ‘‘461(j)’’. 6
383	383	(2) Section 461(i)(4) is amended by striking 7
384	384	‘‘subsection (k)’’ and inserting ‘‘subsection (j)’’. 8
385	385	(3) Section 464(d)(2)(B)(iii) is amended by 9
386	386	striking ‘‘section 461(k)(2)(E)’’ and inserting ‘‘sec-10
387	387	tion 461(j)(2)(E)’’. 11
388	388	(4) Subparagraphs (B) and (C) of section 12
389	389	1256(e)(3) are each amended by striking ‘‘section 13
390	390	461(k)(4)’’ and inserting ‘‘section 461(j)(4)’’. 14
391	391	(5) Section 1258(d)(5)(C) is amended by strik-15
392	392	ing ‘‘section 461(k)(4)’’ and inserting ‘‘section 16
393	393	461(j)(4)’’. 17
394	394	(c) E
395	395	FFECTIVEDATE.—The amendments made by 18
396	396	this section shall apply to taxable years beginning after 19
397	397	the date of the enactment of this Act. 20
398	398	Subtitle C—Tax Benefits for 21
399	399	Families and Individuals 22
400	400	SEC. 121. INCREASE IN STANDARD DEDUCTION. 23
401	401	(a) I
402	402	NGENERAL.—Section 63(c)(2) is amended— 24
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405	405	•HR 976 IH
406	406	(1) by striking ‘‘$4,400’’ in subparagraph (B) 1
407	407	and inserting ‘‘$18,000’’, and 2
408	408	(2) by striking ‘‘$3,000’’ in subparagraph (C) 3
409	409	and inserting ‘‘$12,000’’. 4
410	410	(b) I
411	411	NFLATIONADJUSTMENT.—Section 63(c)(4) is 5
412	412	amended to read as follows: 6
413	413	‘‘(4) A
414	414	DJUSTMENTS FOR INFLATION .— 7
415	415	‘‘(A) I
416	416	N GENERAL.—Each dollar amount in 8
417	417	paragraph (2)(B), (2)(C), or (5) or subsection 9
418	418	(f) shall be increased by an amount equal to— 10
419	419	‘‘(i) such dollar amount, multiplied by 11
420	420	‘‘(ii) the cost-of-living adjustment de-12
421	421	termined under section 1(f)(3) for the cal-13
422	422	endar year in which the taxable year be-14
423	423	gins, determined by substituting for ‘2016’ 15
424	424	in subparagraph (A)(ii) thereof— 16
425	425	‘‘(I) in the case of the dollar 17
426	426	amounts contained in paragraph 18
427	427	(2)(B) or (2)(C), ‘2017’, 19
428	428	‘‘(II) in the case of the dollar 20
429	429	amounts contained in paragraph 21
430	430	(5)(A) or subsection (f), ‘1987’, and 22
431	431	‘‘(III) in the case of the dollar 23
432	432	amount contained in paragraph 24
433	433	(5)(B), ‘1997’. 25
434	434	VerDate Sep 11 2014 05:50 Mar 07, 2023 Jkt 039200 PO 00000 Frm 00012 Fmt 6652 Sfmt 6201 E:\BILLS\H976.IH H976
435	435	kjohnson on DSK79L0C42PROD with BILLS 13
436	436	•HR 976 IH
437	437	‘‘(B) ROUNDING.—If any increase under 1
438	438	subparagraph (A) is not a multiple of $50, such 2
439	439	increase shall be rounded to the next lowest 3
440	440	multiple of $50.’’. 4
441	441	(c) C
442	442	ONFORMING AMENDMENT.—Section 63(c) is 5
443	443	amended by striking paragraph (7). 6
444	444	(d) E
445	445	FFECTIVEDATE.—The amendments made by 7
446	446	this section shall apply to taxable years beginning after 8
447	447	the date of the enactment of this Act. 9
448	448	SEC. 122. INCREASE IN AND MODIFICATION OF CHILD TAX 10
449	449	CREDIT. 11
450	450	(a) I
451	451	NGENERAL.—Section 24 is amended by striking 12
452	452	subsections (a), (b), and (c) and inserting the following 13
453	453	new subsections: 14
454	454	‘‘(a) A
455	455	LLOWANCE OF CREDIT.—There shall be al-15
456	456	lowed as a credit against the tax imposed by this chapter 16
457	457	for the taxable year an amount equal to the sum of— 17
458	458	‘‘(1) $2,000 for each qualifying child of the tax-18
459	459	payer, and 19
460	460	‘‘(2) $500 for each qualifying dependent (other 20
461	461	than a qualifying child) of the taxpayer. 21
462	462	‘‘(b) L
463	463	IMITATIONBASED ONADJUSTEDGROSSIN-22
464	464	COME.—The amount of the credit allowable under sub-23
465	465	section (a) shall be reduced (but not below zero) by $50 24
466	466	for each $1,000 (or fraction thereof) by which the tax-25
467	467	VerDate Sep 11 2014 05:50 Mar 07, 2023 Jkt 039200 PO 00000 Frm 00013 Fmt 6652 Sfmt 6201 E:\BILLS\H976.IH H976
468	468	kjohnson on DSK79L0C42PROD with BILLS 14
469	469	•HR 976 IH
470	470	payer’s modified adjusted gross income exceeds $400,000 1
471	471	in the case of a joint return ($200,000 in any other case). 2
472	472	For purposes of the preceding sentence, the term ‘‘modi-3
473	473	fied adjusted gross income’’ means adjusted gross income 4
474	474	increased by any amount excluded from gross income 5
475	475	under section 911, 931, or 933. 6
476	476	‘‘(c) Q
477	477	UALIFYINGCHILD; QUALIFYINGDEPEND-7
478	478	ENT.—For purposes of this section— 8
479	479	‘‘(1) Q
480	480	UALIFYING CHILD.—The term ‘qualifying 9
481	481	child’ means any qualifying dependent of the tax-10
482	482	payer— 11
483	483	‘‘(A) who is a qualifying child (as defined 12
484	484	in section 7706(c)) of the taxpayer, 13
485	485	‘‘(B) who has not attained age 17 at the 14
486	486	close of the calendar year in which the taxable 15
487	487	year of the taxpayer begins, and 16
488	488	‘‘(C) whose name and social security num-17
489	489	ber are included on the taxpayer’s return of tax 18
490	490	for the taxable year. 19
491	491	‘‘(2) Q
492	492	UALIFYING DEPENDENT .—The term 20
493	493	‘qualifying dependent’ means any dependent of the 21
494	494	taxpayer (as defined in section 7706 without regard 22
495	495	to all that follows ‘resident of the United States’ in 23
496	496	section 7706(b)(3)(A)) whose name and TIN are in-24
497	497	VerDate Sep 11 2014 05:50 Mar 07, 2023 Jkt 039200 PO 00000 Frm 00014 Fmt 6652 Sfmt 6201 E:\BILLS\H976.IH H976
498	498	kjohnson on DSK79L0C42PROD with BILLS 15
499	499	•HR 976 IH
500	500	cluded on the taxpayer’s return of tax for the tax-1
501	501	able year. 2
502	502	‘‘(3) S
503	503	OCIAL SECURITY NUMBER DEFINED .— 3
504	504	For purposes of this subsection, the term ‘social se-4
505	505	curity number’ means, with respect to a return of 5
506	506	tax, a social security number issued to an individual 6
507	507	by the Social Security Administration, but only if 7
508	508	the social security number is issued— 8
509	509	‘‘(A) to a citizen of the United States or 9
510	510	pursuant to subclause (I) (or that portion of 10
511	511	subclause (III) that relates to subclause (I)) of 11
512	512	section 205(c)(2)(B)(i) of the Social Security 12
513	513	Act, and 13
514	514	‘‘(B) on or before the due date of filing 14
515	515	such return.’’. 15
516	516	(b) P
517	517	ORTION OFCREDITREFUNDABLE.— 16
518	518	(1) I
519	519	N GENERAL.—Section 24(d)(1)(A) is 17
520	520	amended to read as follows: 18
521	521	‘‘(A) the credit which would be allowed 19
522	522	under this section determined— 20
523	523	‘‘(i) by substituting ‘$1,400’ for 21
524	524	‘$2,000’ in subsection (a)(1), 22
525	525	‘‘(ii) without regard to subsection 23
526	526	(a)(2), and 24
527	527	VerDate Sep 11 2014 05:50 Mar 07, 2023 Jkt 039200 PO 00000 Frm 00015 Fmt 6652 Sfmt 6201 E:\BILLS\H976.IH H976
528	528	kjohnson on DSK79L0C42PROD with BILLS 16
529	529	•HR 976 IH
530	530	‘‘(iii) without regard to this subsection 1
531	531	(other than this subparagraph) and the 2
532	532	limitation under section 26(a), or’’. 3
533	533	(2) M
534	534	ODIFICATION OF LIMITATION BASED ON 4
535	535	EARNED INCOME.—Section 24(d)(1)(B)(i) is amend-5
536	536	ed by striking ‘‘$3,000’’ and inserting ‘‘$2,500’’. 6
537	537	(3) I
538	538	NFLATION ADJUSTMENT .—Section 24(d) is 7
539	539	amended by inserting after paragraph (3) the fol-8
540	540	lowing new paragraph: 9
541	541	‘‘(4) A
542	542	DJUSTMENT FOR INFLATION .— 10
543	543	‘‘(A) I
544	544	N GENERAL.—The $1,400 amount in 11
545	545	paragraph (1)(A)(i) shall be increased by an 12
546	546	amount equal to— 13
547	547	‘‘(i) such dollar amount, multiplied by 14
548	548	‘‘(ii) the cost-of-living adjustment de-15
549	549	termined under section 1(f)(3) for the cal-16
550	550	endar year in which the taxable year be-17
551	551	gins, determined by substituting ‘2017’ for 18
552	552	‘2016’ in subparagraph (A)(ii) thereof. 19
553	553	‘‘(B) R
554	554	OUNDING.—If any increase under 20
555	555	subparagraph (A) is not a multiple of $100, 21
556	556	such increase shall be rounded to the next low-22
557	557	est multiple of $100. 23
558	558	‘‘(C) L
559	559	IMITATION.—The amount of any in-24
560	560	crease under subparagraph (A) (after the appli-25
561	561	VerDate Sep 11 2014 05:50 Mar 07, 2023 Jkt 039200 PO 00000 Frm 00016 Fmt 6652 Sfmt 6201 E:\BILLS\H976.IH H976
562	562	kjohnson on DSK79L0C42PROD with BILLS 17
563	563	•HR 976 IH
564	564	cation of subparagraph (B)) shall not exceed 1
565	565	$600.’’. 2
566	566	(4) C
567	567	ONFORMING AMENDMENTS .— 3
568	568	(A) Section 24(e) is amended to read as 4
569	569	follows: 5
570	570	‘‘(e) T
571	571	AXPAYERIDENTIFICATIONREQUIREMENT.— 6
572	572	No credit shall be allowed under this section if the identi-7
573	573	fying number of the taxpayer was issued after the due date 8
574	574	for filing the return of tax for the taxable year.’’. 9
575	575	(B) Section 24 is amended by striking sub-10
576	576	section (h). 11
577	577	(c) R
578	578	EPEAL OFCERTAINLATERENACTEDPROVI-12
579	579	SIONS.— 13
580	580	(1) Section 24 is amended by striking sub-14
581	581	sections (i), (j), and (k). 15
582	582	(2) Chapter 77 is amended by striking section 16
583	583	7527A (and by striking the item relating to section 17
584	584	7527A in the table of sections for such chapter). 18
585	585	(3) Section 26(b)(2) is amended by inserting 19
586	586	‘‘and’’ at the end of subparagraph (X), by striking 20
587	587	‘‘, and’’ at the end of subparagraph (Y) and insert-21
588	588	ing a period, and by striking subparagraph (Z). 22
589	589	(4) Section 3402(f)(1)(C) is amended by strik-23
590	590	ing ‘‘section 24 (determined after application of sub-24
591	591	section (j) thereof)’’ and inserting ‘‘section 24(a)’’. 25
592	592	VerDate Sep 11 2014 05:50 Mar 07, 2023 Jkt 039200 PO 00000 Frm 00017 Fmt 6652 Sfmt 6201 E:\BILLS\H976.IH H976
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594	594	•HR 976 IH
595	595	(5) Section 6211(b)(4)(A) is amended— 1
596	596	(A) by striking ‘‘24 by reason of sub-2
597	597	sections (d) and (i)(1) thereof’’ and inserting 3
598	598	‘‘24(d)’’, and 4
599	599	(B) by striking ‘‘6428B, and 7527A’’ and 5
600	600	inserting ‘‘and 6428B’’. 6
601	601	(6) Paragraph (2) of section 1324(b) of title 7
602	602	31, United States Code, is amended by striking 8
603	603	‘‘6431, or 7527A’’ and inserting ‘‘or 6431’’. 9
604	604	(d) E
605	605	FFECTIVEDATE.—The amendments made by 10
606	606	this section shall apply to taxable years beginning after 11
607	607	the date of the enactment of this Act. 12
608	608	SEC. 123. INCREASED LIMITATION FOR CERTAIN CHARI-13
609	609	TABLE CONTRIBUTIONS. 14
610	610	(a) I
611	611	NGENERAL.—Section 170(b)(1)(G) is amended 15
612	612	to read as follows: 16
613	613	‘‘(G) C
614	614	ASH CONTRIBUTIONS.— 17
615	615	‘‘(i) I
616	616	N GENERAL.—Any contribution 18
617	617	of cash to an organization described in 19
618	618	subparagraph (A) shall be allowed to the 20
619	619	extent that the aggregate of such contribu-21
620	620	tions does not exceed 60 percent of the 22
621	621	taxpayer’s contribution base for the taxable 23
622	622	year, reduced by the aggregate amount of 24
623	623	VerDate Sep 11 2014 05:50 Mar 07, 2023 Jkt 039200 PO 00000 Frm 00018 Fmt 6652 Sfmt 6201 E:\BILLS\H976.IH H976
624	624	kjohnson on DSK79L0C42PROD with BILLS 19
625	625	•HR 976 IH
626	626	contributions allowable under subpara-1
627	627	graph (A) for such taxpayer for such year. 2
628	628	‘‘(ii) C
629	629	ARRYOVER.—If the aggregate 3
630	630	amount of contributions described in clause 4
631	631	(i) exceeds the limitation of clause (i), such 5
632	632	excess shall be treated (in a manner con-6
633	633	sistent with the rules of subsection (d)(1)) 7
634	634	as a charitable contribution to which clause 8
635	635	(i) applies in each of the 5 succeeding 9
636	636	years in order of time.’’. 10
637	637	(b) C
638	638	OORDINATIONWITHLIMITATIONS ONOTHER 11
639	639	C
640	640	ONTRIBUTIONS.— 12
641	641	(1) C
642	642	OORDINATION WITH 50 PERCENT LIMITA -13
643	643	TION.—Section 170(b)(1)(A) is amended by striking 14
644	644	‘‘Any charitable contribution’’ and inserting ‘‘Any 15
645	645	charitable contribution other than a contribution de-16
646	646	scribed in subparagraph (G)’’. 17
647	647	(2) C
648	648	OORDINATION WITH 30 PERCENT LIMITA -18
649	649	TION.—Section 170(b)(1)(B) is amended— 19
650	650	(A) in the matter preceding clause (i), by 20
651	651	striking ‘‘to which subparagraph (A) applies’’ 21
652	652	and inserting ‘‘to which subparagraph (A) or 22
653	653	(G) applies’’, 23
654	654	(B) by amending clause (ii) to read as fol-24
655	655	lows: 25
656	656	VerDate Sep 11 2014 05:50 Mar 07, 2023 Jkt 039200 PO 00000 Frm 00019 Fmt 6652 Sfmt 6201 E:\BILLS\H976.IH H976
657	657	kjohnson on DSK79L0C42PROD with BILLS 20
658	658	•HR 976 IH
659	659	‘‘(ii) the excess of— 1
660	660	‘‘(I) the sum of 50 percent of the 2
661	661	taxpayer’s contribution base for the 3
662	662	taxable year, plus so much of the 4
663	663	amount of charitable contributions al-5
664	664	lowable under subparagraph (G) as 6
665	665	does not exceed 10 percent of such 7
666	666	contribution base, over 8
667	667	‘‘(II) the amount of charitable 9
668	668	contributions allowable under sub-10
669	669	paragraphs (A) and (G) (determined 11
670	670	without regard to subparagraph 12
671	671	(C)).’’, and 13
672	672	(C) in the matter following clause (ii), by 14
673	673	striking ‘‘(to which subparagraph (A) does not 15
674	674	apply)’’ and inserting ‘‘(to which neither sub-16
675	675	paragraph (A) nor (G) applies)’’. 17
676	676	(c) E
677	677	FFECTIVEDATE.—The amendments made by 18
678	678	this section shall apply to contributions made in taxable 19
679	679	years beginning after the date of the enactment of this 20
680	680	Act. 21
681	681	SEC. 124. INCREASED CONTRIBUTIONS TO ABLE AC-22
682	682	COUNTS. 23
683	683	(a) I
684	684	NCREASE INLIMITATION FORCONTRIBUTIONS 24
685	685	F
686	686	ROMCOMPENSATION OF INDIVIDUALSWITHDISABIL-25
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689	689	•HR 976 IH
690	690	ITIES.—Section 529A(b)(2)(B)(ii) is amended by striking 1
691	691	‘‘before January 1, 2026’’. 2
692	692	(b) A
693	693	LLOWANCE OF SAVER’SCREDIT FORABLE 3
694	694	C
695	695	ONTRIBUTIONS BY ACCOUNT HOLDER.—Section 4
696	696	25B(d)(1)(D) is amended by striking ‘‘made before Janu-5
697	697	ary 1, 2026,’’. 6
698	698	(c) E
699	699	FFECTIVEDATE.—The amendments made by 7
700	700	this section shall apply to taxable years beginning after 8
701	701	the date of the enactment of this Act. 9
702	702	SEC. 125. ROLLOVERS TO ABLE PROGRAMS FROM 529 PRO-10
703	703	GRAMS. 11
704	704	(a) I
705	705	NGENERAL.—Section 529(c)(3)(C)(i)(III) is 12
706	706	amended by striking ‘‘before January 1, 2026,’’. 13
707	707	(b) E
708	708	FFECTIVEDATE.—The amendments made by 14
709	709	this section shall apply to distributions after the date of 15
710	710	the enactment of this Act. 16
711	711	SEC. 126. TREATMENT OF CERTAIN INDIVIDUALS PER-17
712	712	FORMING SERVICES IN THE SINAI PENIN-18
713	713	SULA OF EGYPT. 19
714	714	(a) I
715	715	NGENERAL.—Section 112(c)(2) is amended— 20
716	716	(1) by striking ‘‘means any area’’ and inserting 21
717	717	‘‘means— 22
718	718	‘‘(A) any area’’, and 23
719	719	(2) by striking the period at the end and insert-24
720	720	ing ‘‘, and 25
721	721	VerDate Sep 11 2014 05:50 Mar 07, 2023 Jkt 039200 PO 00000 Frm 00021 Fmt 6652 Sfmt 6201 E:\BILLS\H976.IH H976
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723	723	•HR 976 IH
724	724	‘‘(B) the Sinai Peninsula of Egypt.’’. 1
725	725	(b) P
726	726	ERIOD OFTREATMENT.—Section 112(c)(3) is 2
727	727	amended— 3
728	728	(1) by striking ‘‘only if performed’’ and insert-4
729	729	ing ‘‘only if— 5
730	730	‘‘(A) in the case of an area described in 6
731	731	paragraph (2)(A), such service is performed’’, 7
732	732	and 8
733	733	(2) by striking the period at the end and insert-9
734	734	ing ‘‘, and 10
735	735	‘‘(B) in the case of the area described in 11
736	736	paragraph (2)(B), such service is performed 12
737	737	during any period with respect to which one or 13
738	738	more members of the Armed Forces of the 14
739	739	United States are entitled to special pay under 15
740	740	section 310 of title 37, United States Code (re-16
741	741	lating to special pay; duty subject to hostile fire 17
742	742	or imminent danger), for service performed in 18
743	743	such area.’’. 19
744	744	(c) C
745	745	ONFORMINGAMENDMENT.—The Tax Cuts and 20
746	746	Jobs Act is amended by striking section 11026. 21
747	747	(d) E
748	748	FFECTIVEDATE.—The amendments made by 22
749	749	this section shall apply with respect to services performed 23
750	750	on or after the date of the enactment of this Act. 24
751	751	VerDate Sep 11 2014 05:50 Mar 07, 2023 Jkt 039200 PO 00000 Frm 00022 Fmt 6652 Sfmt 6201 E:\BILLS\H976.IH H976
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753	753	•HR 976 IH
754	754	Subtitle D—Education 1
755	755	SEC. 131. TREATMENT OF STUDENT LOAN DISCHARGES. 2
756	756	(a) S
757	757	UNSET OFSPECIALRULE FORDISCHARGES OF 3
758	758	C
759	759	ERTAINLOANS.—Section 108(f)(5) is amended— 4
760	760	(1) in the heading, by striking ‘‘
761	761	2025’’ and in-5
762	762	serting ‘‘
763	763	2024’’, and 6
764	764	(2) by striking ‘‘January 1, 2026’’ and insert-7
765	765	ing ‘‘January 1, 2025’’. 8
766	766	(b) R
767	767	EINSTATEMENT OF RULE FORDISCHARGES ON 9
768	768	A
769	769	CCOUNT OFDEATH ORDISABILITYAFTER2024.—Sec-10
770	770	tion 108(f) is amended by adding at the end the following 11
771	771	new paragraph: 12
772	772	‘‘(6) D
773	773	ISCHARGES ON ACCOUNT OF DEATH OR 13
774	774	DISABILITY AFTER 2024.— 14
775	775	‘‘(A) I
776	776	N GENERAL.—In the case of an indi-15
777	777	vidual, gross income does not include any 16
778	778	amount which (but for this subsection) would 17
779	779	be includible in gross income for such taxable 18
780	780	year by reasons of the discharge (in whole or in 19
781	781	part) of any loan described in subparagraph 20
782	782	(B) after December 31, 2024, if such discharge 21
783	783	was— 22
784	784	‘‘(i) pursuant to subsection (a) or (d) 23
785	785	of section 437 of the Higher Education 24
786	786	Act of 1965 or the parallel benefit under 25
787	787	VerDate Sep 11 2014 05:50 Mar 07, 2023 Jkt 039200 PO 00000 Frm 00023 Fmt 6652 Sfmt 6201 E:\BILLS\H976.IH H976
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789	789	•HR 976 IH
790	790	part D of title IV of such Act (relating to 1
791	791	the repayment of loan liability), 2
792	792	‘‘(ii) pursuant to section 464(c)(1)(F) 3
793	793	of such Act, or 4
794	794	‘‘(iii) otherwise discharged on account 5
795	795	of the death or total and permanent dis-6
796	796	ability of the student. 7
797	797	‘‘(B) L
798	798	OANS DESCRIBED.—A loan is de-8
799	799	scribed in this subparagraph if such loan is— 9
800	800	‘‘(i) a student loan (as defined in 10
801	801	paragraph (2)), or 11
802	802	‘‘(ii) a private education loan (as de-12
803	803	fined in section 140(7) of the Consumer 13
804	804	Credit Protection Act (15 U.S.C. 14
805	805	1650(7))).’’. 15
806	806	(c) E
807	807	FFECTIVEDATE.—The amendments made by 16
808	808	this section shall apply to discharges of indebtedness after 17
809	809	December 31, 2024. 18
810	810	SEC. 132. 529 ACCOUNT FUNDING FOR HOMESCHOOL AND 19
811	811	ADDITIONAL ELEMENTARY AND SECONDARY 20
812	812	EXPENSES. 21
813	813	(a) I
814	814	NGENERAL.—Section 529(c)(7) of the Internal 22
815	815	Revenue Code of 1986 is amended to read as follows: 23
816	816	‘‘(7) T
817	817	REATMENT OF ELEMENTARY AND SEC -24
818	818	ONDARY TUITION.—Any reference in this section to 25
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821	821	•HR 976 IH
822	822	the term ‘qualified higher education expense’ shall 1
823	823	include a reference to the following expenses in con-2
824	824	nection with enrollment or attendance at, or for stu-3
825	825	dents enrolled at or attending, an elementary or sec-4
826	826	ondary public, private, or religious school: 5
827	827	‘‘(A) Tuition. 6
828	828	‘‘(B) Curriculum and curricular materials. 7
829	829	‘‘(C) Books or other instructional mate-8
830	830	rials. 9
831	831	‘‘(D) Online educational materials. 10
832	832	‘‘(E) Tuition for tutoring or educational 11
833	833	classes outside of the home, including at a tu-12
834	834	toring facility, but only if the tutor or instruc-13
835	835	tor is not related to the student and— 14
836	836	‘‘(i) is licensed as a teacher in any 15
837	837	State, 16
838	838	‘‘(ii) has taught at an eligible edu-17
839	839	cational institution, or 18
840	840	‘‘(iii) is a subject matter expert in the 19
841	841	relevant subject. 20
842	842	‘‘(F) Fees for a nationally standardized 21
843	843	norm-referenced achievement test, an advanced 22
844	844	placement examination, or any examinations re-23
845	845	lated to college or university admission. 24
846	846	VerDate Sep 11 2014 05:50 Mar 07, 2023 Jkt 039200 PO 00000 Frm 00025 Fmt 6652 Sfmt 6201 E:\BILLS\H976.IH H976
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848	848	•HR 976 IH
849	849	‘‘(G) Fees for dual enrollment in an insti-1
850	850	tution of higher education. 2
851	851	‘‘(H) Educational therapies for students 3
852	852	with disabilities provided by a licensed or ac-4
853	853	credited practitioner or provider, including oc-5
854	854	cupational, behavioral, physical, and speech-lan-6
855	855	guage therapies. 7
856	856	Such term shall include expenses for the purposes 8
857	857	described in subparagraphs (A) through (H) in con-9
858	858	nection with a homeschool (whether treated as a 10
859	859	homeschool or a private school for purposes of appli-11
860	860	cable State law).’’. 12
861	861	(b) E
862	862	FFECTIVEDATE.—The amendment made by 13
863	863	this section shall apply to distributions made after the 14
864	864	date of the enactment of this Act. 15
865	865	Subtitle E—Deductions and 16
866	866	Exclusions 17
867	867	SEC. 141. REPEAL OF DEDUCTION FOR PERSONAL EXEMP-18
868	868	TIONS. 19
869	869	(a) I
870	870	NGENERAL.—Part V of subchapter B of chapter 20
871	871	1 is hereby repealed. 21
872	872	(b) D
873	873	EFINITION OFDEPENDENTRETAINED.—Sec-22
874	874	tion 152, prior to the repeal made by subsection (a), is 23
875	875	hereby redesignated as section 7706 and moved to the end 24
876	876	of chapter 79. 25
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879	879	•HR 976 IH
880	880	(c) APPLICATION TOTRUSTS ANDESTATES.—Sec-1
881	881	tion 642(b) is amended— 2
882	882	(1) in paragraph (2)(C)— 3
883	883	(A) in clause (i), by striking ‘‘the exemp-4
884	884	tion amount under section 151(d)’’ and all that 5
885	885	follows through the period at the end and in-6
886	886	serting ‘‘the dollar amount in effect under sec-7
887	887	tion 7706(d)(1)(B).’’, and 8
888	888	(B) by striking clause (iii), 9
889	889	(2) by striking paragraph (3), and 10
890	890	(3) by striking ‘‘D
891	891	EDUCTIONFORPERSONAL 11
892	892	E
893	893	XEMPTION’’ in the heading thereof and inserting 12
894	894	‘‘B
895	895	ASICDEDUCTION’’. 13
896	896	(d) A
897	897	PPLICATION TONONRESIDENTALIENS.—Sec-14
898	898	tion 873(b) is amended by striking paragraph (3). 15
899	899	(e) M
900	900	ODIFICATION OFRETURNREQUIREMENT.— 16
901	901	(1) I
902	902	N GENERAL.—Section 6012(a)(1) is 17
903	903	amended to read as follows: 18
904	904	‘‘(1) Every individual who has gross income for 19
905	905	the taxable year, except that a return shall not be 20
906	906	required of— 21
907	907	‘‘(A) an individual who is not married (de-22
908	908	termined by applying section 7703) and who 23
909	909	has gross income for the taxable year which 24
910	910	does not exceed the standard deduction applica-25
911	911	VerDate Sep 11 2014 05:50 Mar 07, 2023 Jkt 039200 PO 00000 Frm 00027 Fmt 6652 Sfmt 6201 E:\BILLS\H976.IH H976
912	912	kjohnson on DSK79L0C42PROD with BILLS 28
913	913	•HR 976 IH
914	914	ble to such individual for such taxable year 1
915	915	under section 63, or 2
916	916	‘‘(B) an individual entitled to make a joint 3
917	917	return if— 4
918	918	‘‘(i) the gross income of such indi-5
919	919	vidual, when combined with the gross in-6
920	920	come of such individual’s spouse, for the 7
921	921	taxable year does not exceed the standard 8
922	922	deduction which would be applicable for 9
923	923	such taxable year under section 63 if such 10
924	924	individual and such individual’s spouse 11
925	925	made a joint return, 12
926	926	‘‘(ii) such individual’s spouse does not 13
927	927	make a separate return, and 14
928	928	‘‘(iii) neither such individual nor such 15
929	929	individual’s spouse is an individual de-16
930	930	scribed in section 63(c)(4) who has income 17
931	931	(other than earned income) in excess of the 18
932	932	amount in effect under section 19
933	933	63(c)(4)(A).’’. 20
934	934	(2) B
935	935	ANKRUPTCY ESTATES .—Section 21
936	936	6012(a)(8) is amended by striking ‘‘the sum of the 22
937	937	exemption amount plus the basic standard deduction 23
938	938	under section 63(c)(2)(C)’’ and inserting ‘‘the stand-24
939	939	ard deduction in effect under section 63(c)(1)(B)’’. 25
940	940	VerDate Sep 11 2014 05:50 Mar 07, 2023 Jkt 039200 PO 00000 Frm 00028 Fmt 6652 Sfmt 6201 E:\BILLS\H976.IH H976
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942	942	•HR 976 IH
943	943	(3) CONFORMING AMENDMENT .—Section 6012 1
944	944	is amended by striking subsection (f). 2
945	945	(f) C
946	946	ONFORMINGAMENDMENTS.— 3
947	947	(1) Section 1(g)(5)(A) is amended by striking 4
948	948	‘‘section 152(e)’’ and inserting ‘‘section 7706(e)’’. 5
949	949	(2) Section 2(a)(1)(B) is amended— 6
950	950	(A) by striking ‘‘section 152’’ and insert-7
951	951	ing ‘‘section 7706’’, and 8
952	952	(B) by striking ‘‘with respect to whom the 9
953	953	taxpayer is entitled to a deduction for the tax-10
954	954	able year under section 151’’ and inserting 11
955	955	‘‘whose TIN is included on the taxpayer’s re-12
956	956	turn of tax for the taxable year’’. 13
957	957	(3) Section 2(b)(1)(A)(i) is amended— 14
958	958	(A) in the matter preceding subclause 15
959	959	(I)— 16
960	960	(i) by striking ‘‘section 152(c)’’ and 17
961	961	inserting ‘‘section 7706(c)’’, and 18
962	962	(ii) by striking ‘‘section 152(e)’’ and 19
963	963	inserting ‘‘section 7706(e)’’, and 20
964	964	(B) in subclause (II), by striking ‘‘section 21
965	965	152(b)(2) or 152(b)(3)’’ and inserting ‘‘section 22
966	966	7706(b)(2) or 7706(b)(3)’’. 23
967	967	(4) Section 2(b)(1)(A)(ii) is amended by strik-24
968	968	ing ‘‘if the taxpayer is entitled to a deduction for the 25
969	969	VerDate Sep 11 2014 05:50 Mar 07, 2023 Jkt 039200 PO 00000 Frm 00029 Fmt 6652 Sfmt 6201 E:\BILLS\H976.IH H976
970	970	kjohnson on DSK79L0C42PROD with BILLS 30
971	971	•HR 976 IH
972	972	taxable year for such person under section 151’’ and 1
973	973	inserting ‘‘if the taxpayer included such person’s 2
974	974	TIN on the return of tax for the taxable year’’. 3
975	975	(5) Section 2(b)(1)(B) is amended by striking 4
976	976	‘‘if the taxpayer is entitled to a deduction for the 5
977	977	taxable year for such father or mother under section 6
978	978	151’’ and inserting ‘‘if such father or mother is a 7
979	979	dependent of the taxpayer and the taxpayer included 8
980	980	such father or mother’s TIN on the return of tax for 9
981	981	the taxable year’’. 10
982	982	(6) Section 2(b)(3)(B) is amended— 11
983	983	(A) by striking ‘‘section 152(d)(2)’’ in 12
984	984	clause (i) and inserting ‘‘section 7706(d)(2)’’, 13
985	985	and 14
986	986	(B) by striking ‘‘section 152(d)’’ in clause 15
987	987	(ii) and inserting ‘‘section 7706(d)’’. 16
988	988	(7) Section 21(b)(1)(A) is amended by striking 17
989	989	‘‘section 152(a)(1)’’ and inserting ‘‘section 18
990	990	7706(a)(1)’’. 19
991	991	(8) Section 21(b)(1)(B) is amended by striking 20
992	992	‘‘section 152’’ and inserting ‘‘section 7706’’. 21
993	993	(9) Section 21(e)(5)(A) is amended by striking 22
994	994	‘‘section 152(e)’’ and inserting ‘‘section 7706(e)’’. 23
995	995	(10) Section 21(e)(5) is amended by striking 24
996	996	‘‘section 152(e)(4)(A)’’ in the matter following sub-25
997	997	VerDate Sep 11 2014 05:50 Mar 07, 2023 Jkt 039200 PO 00000 Frm 00030 Fmt 6652 Sfmt 6201 E:\BILLS\H976.IH H976
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999	999	•HR 976 IH
1000	1000	paragraph (B) and inserting ‘‘section 1
1001	1001	7706(e)(4)(A)’’. 2
1002	1002	(11) Section 21(e)(6)(A) is amended to read as 3
1003	1003	follows: 4
1004	1004	‘‘(A) who is a dependent of either the tax-5
1005	1005	payer or the taxpayer’s spouse for the taxable 6
1006	1006	year, or’’. 7
1007	1007	(12) Section 21(e)(6)(B) is amended by striking 8
1008	1008	‘‘section 152(f)(1)’’ and inserting ‘‘section 9
1009	1009	7706(f)(1)’’. 10
1010	1010	(13) Section 25A(f)(1)(A)(iii) is amended by 11
1011	1011	striking ‘‘with respect to whom the taxpayer is al-12
1012	1012	lowed a deduction under section 151’’. 13
1013	1013	(14) Section 25A(g)(3) is amended by striking 14
1014	1014	‘‘If a deduction under section 151 with respect to an 15
1015	1015	individual is allowed to another taxpayer’’ and in-16
1016	1016	serting ‘‘If an individual is a dependent of another 17
1017	1017	taxpayer’’. 18
1018	1018	(15) Section 25B(c)(2)(A) is amended by strik-19
1019	1019	ing ‘‘any individual with respect to whom a deduc-20
1020	1020	tion under section 151 is allowed to another tax-21
1021	1021	payer’’ and inserting ‘‘any individual who is a de-22
1022	1022	pendent of another taxpayer’’. 23
1023	1023	VerDate Sep 11 2014 05:50 Mar 07, 2023 Jkt 039200 PO 00000 Frm 00031 Fmt 6652 Sfmt 6201 E:\BILLS\H976.IH H976
1024	1024	kjohnson on DSK79L0C42PROD with BILLS 32
1025	1025	•HR 976 IH
1026	1026	(16) Section 25B(c)(2)(B) is amended by strik-1
1027	1027	ing ‘‘section 152(f)(2)’’ and inserting ‘‘section 2
1028	1028	7706(f)(2)’’. 3
1029	1029	(17) Section 32(c)(1)(A)(ii)(III) is amended by 4
1030	1030	striking ‘‘a dependent for whom a deduction is al-5
1031	1031	lowable under section 151 to another taxpayer’’ and 6
1032	1032	inserting ‘‘a dependent of another taxpayer’’. 7
1033	1033	(18) Section 32(c)(3) is amended— 8
1034	1034	(A) in subparagraph (A)— 9
1035	1035	(i) by striking ‘‘section 152(c)’’ and 10
1036	1036	inserting ‘‘section 7706(c)’’, and 11
1037	1037	(ii) by striking ‘‘section 152(e)’’ and 12
1038	1038	inserting ‘‘section 7706(e)’’, 13
1039	1039	(B) in subparagraph (B), by striking ‘‘un-14
1040	1040	less the taxpayer is entitled to a deduction 15
1041	1041	under section 151 for such taxable year with re-16
1042	1042	spect to such individual (or would be so entitled 17
1043	1043	but for section 152(e)’’ and inserting ‘‘if such 18
1044	1044	individual is not treated as a dependent of such 19
1045	1045	taxpayer for such taxable year by reason of sec-20
1046	1046	tion 7706(b)(2) (determined without regard to 21
1047	1047	section 7706(e))’’, and 22
1048	1048	(C) in subparagraph (C), by striking ‘‘sec-23
1049	1049	tion 152(c)(1)(B)’’ and inserting ‘‘section 24
1050	1050	7706(c)(1)(B)’’. 25
1051	1051	VerDate Sep 11 2014 05:50 Mar 07, 2023 Jkt 039200 PO 00000 Frm 00032 Fmt 6652 Sfmt 6201 E:\BILLS\H976.IH H976
1052	1052	kjohnson on DSK79L0C42PROD with BILLS 33
1053	1053	•HR 976 IH
1054	1054	(19) Section 35(d)(1)(B) is amended by strik-1
1055	1055	ing ‘‘with respect to whom the taxpayer is entitled 2
1056	1056	to a deduction under section 151(c)’’ and inserting 3
1057	1057	‘‘if the taxpayer included such person’s TIN on the 4
1058	1058	return of tax for the taxable year’’. 5
1059	1059	(20) Section 35(d)(2) is amended— 6
1060	1060	(A) by striking ‘‘section 152(e)’’ and in-7
1061	1061	serting ‘‘section 7706(e)’’, and 8
1062	1062	(B) by striking ‘‘section 152(e)(4)(A)’’ and 9
1063	1063	inserting ‘‘section 7706(e)(4)(A)’’. 10
1064	1064	(21) Section 36B(b)(2)(A) is amended by strik-11
1065	1065	ing ‘‘section 152’’ and inserting ‘‘section 7706’’. 12
1066	1066	(22) Section 36B(b)(3)(B) is amended— 13
1067	1067	(A) in clause (ii)(I)(aa), by striking ‘‘who 14
1068	1068	is not allowed a deduction under section 151 for 15
1069	1069	the taxable year with respect to a dependent’’ 16
1070	1070	and inserting ‘‘who does not have any depend-17
1071	1071	ents for the taxable year’’, and 18
1072	1072	(B) in the flush matter at the end, by 19
1073	1073	striking ‘‘unless a deduction is allowed under 20
1074	1074	section 151 for the taxable year with respect to 21
1075	1075	a dependent’’ and inserting ‘‘unless the tax-22
1076	1076	payer has a dependent for the taxable year (and 23
1077	1077	the taxpayer included such dependent’s TIN on 24
1078	1078	the return of tax for the taxable year)’’. 25
1079	1079	VerDate Sep 11 2014 05:50 Mar 07, 2023 Jkt 039200 PO 00000 Frm 00033 Fmt 6652 Sfmt 6201 E:\BILLS\H976.IH H976
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1081	1081	•HR 976 IH
1082	1082	(23) Section 36B(c)(1)(D) is amended by strik-1
1083	1083	ing ‘‘with respect to whom a deduction under section 2
1084	1084	151 is allowable to another taxpayer’’ and inserting 3
1085	1085	‘‘who is a dependent of another taxpayer’’. 4
1086	1086	(24) Section 36B(d)(1) is amended by striking 5
1087	1087	‘‘equal to the number of individuals for whom the 6
1088	1088	taxpayer is allowed a deduction under section 151 7
1089	1089	(relating to allowance of deduction for personal ex-8
1090	1090	emptions) for the taxable year’’ and inserting ‘‘the 9
1091	1091	sum of 1 (2 in the case of a joint return) plus the 10
1092	1092	number of individuals who are dependents of the 11
1093	1093	taxpayer for the taxable year’’. 12
1094	1094	(25) Section 36B(e)(1) is amended by striking 13
1095	1095	‘‘1 or more individuals for whom a taxpayer is al-14
1096	1096	lowed a deduction under section 151 (relating to al-15
1097	1097	lowance of deduction for personal exemptions) for 16
1098	1098	the taxable year (including the taxpayer or his 17
1099	1099	spouse)’’ and inserting ‘‘1 or more of the taxpayer, 18
1100	1100	the taxpayer’s spouse, or any dependent of the tax-19
1101	1101	payer’’. 20
1102	1102	(26) Section 42(i)(3)(D)(ii)(I) is amended by 21
1103	1103	striking ‘‘section 152’’ and inserting ‘‘section 7706’’. 22
1104	1104	(27) Section 45R(e)(1)(A)(iv) is amended— 23
1105	1105	(A) by striking ‘‘section 152(d)(2)’’ and in-24
1106	1106	serting ‘‘section 7706(d)(2)’’, and 25
1107	1107	VerDate Sep 11 2014 05:50 Mar 07, 2023 Jkt 039200 PO 00000 Frm 00034 Fmt 6652 Sfmt 6201 E:\BILLS\H976.IH H976
1108	1108	kjohnson on DSK79L0C42PROD with BILLS 35
1109	1109	•HR 976 IH
1110	1110	(B) by striking ‘‘section 152(d)(2)(H)’’ 1
1111	1111	and inserting ‘‘section 7706(d)(2)(H)’’. 2
1112	1112	(28) Section 51(i)(1) is amended— 3
1113	1113	(A) by striking ‘‘section 152(d)(2)’’ in sub-4
1114	1114	paragraphs (A) and (B) and inserting ‘‘section 5
1115	1115	7706(d)(2)’’, and 6
1116	1116	(B) by striking ‘‘section 152(d)(2)(H)’’ in 7
1117	1117	subparagraph (C) and inserting ‘‘section 8
1118	1118	7706(d)(2)(H)’’. 9
1119	1119	(29) Section 56(b)(1)(D) is amended— 10
1120	1120	(A) by striking ‘‘, the deduction for per-11
1121	1121	sonal exemptions under section 151,’’, and 12
1122	1122	(B) by striking ‘‘
1123	1123	AND DEDUCTION FOR 13
1124	1124	PERSONAL EXEMPTIONS ’’ in the heading there-14
1125	1125	of. 15
1126	1126	(30) Section 63(b) is amended by adding ‘‘and’’ 16
1127	1127	at the end of paragraph (1), by striking paragraph 17
1128	1128	(2), and by redesignating paragraph (3) as para-18
1129	1129	graph (2). 19
1130	1130	(31) Section 63(c), as amended by section 121, 20
1131	1131	is amended by striking paragraph (3) and redesig-21
1132	1132	nating paragraphs (4), (5), and (6) as paragraphs 22
1133	1133	(3), (4), and (5), respectively. 23
1134	1134	(32) Section 63(c)(4), as redesignated, is 24
1135	1135	amended— 25
1136	1136	VerDate Sep 11 2014 05:50 Mar 07, 2023 Jkt 039200 PO 00000 Frm 00035 Fmt 6652 Sfmt 6201 E:\BILLS\H976.IH H976
1137	1137	kjohnson on DSK79L0C42PROD with BILLS 36
1138	1138	•HR 976 IH
1139	1139	(A) by striking ‘‘with respect to whom a 1
1140	1140	deduction under section 151 is allowable to’’ 2
1141	1141	and inserting ‘‘who is a dependent of’’, and 3
1142	1142	(B) by striking ‘‘
1143	1143	CERTAIN’’ in the heading 4
1144	1144	thereof. 5
1145	1145	(33) Section 63(f) is amended by striking all 6
1146	1146	that precedes paragraph (3) and inserting the fol-7
1147	1147	lowing: 8
1148	1148	‘‘(f) A
1149	1149	DDITIONALSTANDARDDEDUCTION FOR THE 9
1150	1150	A
1151	1151	GED ANDBLIND.— 10
1152	1152	‘‘(1) I
1153	1153	N GENERAL.—For purposes of subsection 11
1154	1154	(c)(1), the additional standard deduction is, with re-12
1155	1155	spect to a taxpayer for a taxable year, the sum of— 13
1156	1156	‘‘(A) $600 if the taxpayer has attained age 14
1157	1157	65 before the close of such taxable year, and 15
1158	1158	‘‘(B) $600 if the taxpayer is blind as of 16
1159	1159	the close of such taxable year. 17
1160	1160	‘‘(2) A
1161	1161	PPLICATION TO MARRIED INDIVID -18
1162	1162	UALS.— 19
1163	1163	‘‘(A) J
1164	1164	OINT RETURNS.—In the case of a 20
1165	1165	joint return, paragraph (1) shall be applied sep-21
1166	1166	arately with respect to each spouse. 22
1167	1167	‘‘(B) C
1168	1168	ERTAIN MARRIED INDIVIDUALS FIL -23
1169	1169	ING SEPARATELY.—In the case of a married in-24
1170	1170	dividual filing a separate return, if— 25
1171	1171	VerDate Sep 11 2014 05:50 Mar 07, 2023 Jkt 039200 PO 00000 Frm 00036 Fmt 6652 Sfmt 6201 E:\BILLS\H976.IH H976
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1173	1173	•HR 976 IH
1174	1174	‘‘(i) the spouse of such individual has 1
1175	1175	no gross income for the calendar year in 2
1176	1176	which the taxable year of such individual 3
1177	1177	begins, 4
1178	1178	‘‘(ii) such spouse is not the dependent 5
1179	1179	of another taxpayer for a taxable year be-6
1180	1180	ginning in the calendar year in which such 7
1181	1181	individual’s taxable year begins, and 8
1182	1182	‘‘(iii) the TIN of such spouse is in-9
1183	1183	cluded on such individual’s return of tax 10
1184	1184	for the taxable year, 11
1185	1185	the additional standard deduction shall be de-12
1186	1186	termined in the same manner as if such indi-13
1187	1187	vidual and such individual’s spouse filed a joint 14
1188	1188	return.’’. 15
1189	1189	(34) Section 63(f)(3) is amended by striking 16
1190	1190	‘‘paragraphs (1) and (2)’’ and inserting ‘‘subpara-17
1191	1191	graphs (A) and (B) of paragraph (1)’’. 18
1192	1192	(35) Section 72(t)(2)(D)(i)(III) is amended by 19
1193	1193	striking ‘‘section 152’’ and inserting ‘‘section 7706’’. 20
1194	1194	(36) Section 72(t)(7)(A)(iii) is amended by 21
1195	1195	striking ‘‘section 152(f)(1)’’ and inserting ‘‘section 22
1196	1196	7706(f)(1)’’. 23
1197	1197	(37) Section 105(b) is amended— 24
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1199	1199	kjohnson on DSK79L0C42PROD with BILLS 38
1200	1200	•HR 976 IH
1201	1201	(A) by striking ‘‘as defined in section 152’’ 1
1202	1202	and inserting ‘‘as defined in section 7706’’, 2
1203	1203	(B) by striking ‘‘section 152(f)(1)’’ and in-3
1204	1204	serting ‘‘section 7706(f)(1)’’, and 4
1205	1205	(C) by striking ‘‘section 152(e)’’ and in-5
1206	1206	serting ‘‘section 7706(e)’’. 6
1207	1207	(38) Section 105(c)(1) is amended by striking 7
1208	1208	‘‘section 152’’ and inserting ‘‘section 7706’’. 8
1209	1209	(39) Section 125(e)(1)(D) is amended by strik-9
1210	1210	ing ‘‘section 152’’ and inserting ‘‘section 7706’’. 10
1211	1211	(40) Section 129(c)(1) is amended to read as 11
1212	1212	follows: 12
1213	1213	‘‘(1) who is a dependent of such employee or of 13
1214	1214	such employee’s spouse, or’’. 14
1215	1215	(41) Section 129(c)(2) is amended by striking 15
1216	1216	‘‘section 152(f)(1)’’ and inserting ‘‘section 16
1217	1217	7706(f)(1)’’. 17
1218	1218	(42) Section 132(h)(2)(B) is amended— 18
1219	1219	(A) by striking ‘‘section 152(f)(1)’’ and in-19
1220	1220	serting ‘‘section 7706(f)(1)’’, and 20
1221	1221	(B) by striking ‘‘section 152(e)’’ and in-21
1222	1222	serting ‘‘section 7706(e)’’. 22
1223	1223	(43) Section 139D(c)(5) is amended by striking 23
1224	1224	‘‘section 152’’ and inserting ‘‘section 7706’’. 24
1225	1225	VerDate Sep 11 2014 05:50 Mar 07, 2023 Jkt 039200 PO 00000 Frm 00038 Fmt 6652 Sfmt 6201 E:\BILLS\H976.IH H976
1226	1226	kjohnson on DSK79L0C42PROD with BILLS 39
1227	1227	•HR 976 IH
1228	1228	(44) Section 139E(c)(2) is amended by striking 1
1229	1229	‘‘section 152’’ and inserting ‘‘section 7706’’. 2
1230	1230	(45) Section 162(l)(1)(D) is amended by strik-3
1231	1231	ing ‘‘section 152(f)(1)’’ and inserting ‘‘section 4
1232	1232	7706(f)(1)’’. 5
1233	1233	(46) Section 170(g)(1) is amended by striking 6
1234	1234	‘‘section 152’’ and inserting ‘‘section 7706’’. 7
1235	1235	(47) Section 170(g)(3) is amended by striking 8
1236	1236	‘‘section 152(d)(2)’’ and inserting ‘‘section 9
1237	1237	7706(d)(2)’’. 10
1238	1238	(48) Section 172(d) is amended by striking 11
1239	1239	paragraph (3). 12
1240	1240	(49) Section 213(a) is amended by striking 13
1241	1241	‘‘section 152’’ and inserting ‘‘section 7706’’. 14
1242	1242	(50) Section 213(d)(5) is amended by striking 15
1243	1243	‘‘section 152(e)’’ and inserting ‘‘section 7706(e)’’. 16
1244	1244	(51) Section 213(d)(11) is amended by striking 17
1245	1245	‘‘section 152(d)(2)’’ in the matter following subpara-18
1246	1246	graph (B) and inserting ‘‘section 7706(d)(2)’’. 19
1247	1247	(52) Section 220(b)(6) is amended by striking 20
1248	1248	‘‘with respect to whom a deduction under section 21
1249	1249	151 is allowable to’’ and inserting ‘‘who is a depend-22
1250	1250	ent of’’. 23
1251	1251	(53) Section 220(d)(2)(A) is amended by strik-24
1252	1252	ing ‘‘section 152’’ and inserting ‘‘section 7706’’. 25
1253	1253	VerDate Sep 11 2014 05:50 Mar 07, 2023 Jkt 039200 PO 00000 Frm 00039 Fmt 6652 Sfmt 6201 E:\BILLS\H976.IH H976
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1255	1255	•HR 976 IH
1256	1256	(54) Section 221(d)(4) is amended by striking 1
1257	1257	‘‘section 152’’ and inserting ‘‘section 7706’’. 2
1258	1258	(55) Section 223(b)(6) is amended by striking 3
1259	1259	‘‘with respect to whom a deduction under section 4
1260	1260	151 is allowable to’’ and inserting ‘‘who is a depend-5
1261	1261	ent of’’. 6
1262	1262	(56) Section 223(d)(2)(A) is amended by strik-7
1263	1263	ing ‘‘section 152’’ and inserting ‘‘section 7706’’. 8
1264	1264	(57) Section 401(h) is amended by striking 9
1265	1265	‘‘section 152(f)(1)’’ in the last sentence and insert-10
1266	1266	ing ‘‘section 7706(f)(1)’’. 11
1267	1267	(58) Section 402(l)(4)(D) is amended by strik-12
1268	1268	ing ‘‘section 152’’ and inserting ‘‘section 7706’’. 13
1269	1269	(59) Section 409A(a)(2)(B)(ii)(I) is amended 14
1270	1270	by striking ‘‘section 152(a)’’ and inserting ‘‘section 15
1271	1271	7706(a)’’. 16
1272	1272	(60) Section 441(f)(2)(B)(iii) is amended by 17
1273	1273	striking ‘‘, but only the adjusted amount of the de-18
1274	1274	ductions for personal exemptions as described in sec-19
1275	1275	tion 443(c)’’. 20
1276	1276	(61) Section 443 is amended— 21
1277	1277	(A) in subsection (b)— 22
1278	1278	(i) by striking paragraph (3), and 23
1279	1279	VerDate Sep 11 2014 05:50 Mar 07, 2023 Jkt 039200 PO 00000 Frm 00040 Fmt 6652 Sfmt 6201 E:\BILLS\H976.IH H976
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1281	1281	•HR 976 IH
1282	1282	(ii) by striking ‘‘modified taxable in-1
1283	1283	come’’ and inserting ‘‘taxable income’’ each 2
1284	1284	place such term appears, 3
1285	1285	(B) by striking subsection (c), and 4
1286	1286	(C) by redesignating subsections (d) and 5
1287	1287	(e) as subsections (c) and (d), respectively. 6
1288	1288	(62) Section 501(c)(9) is amended by striking 7
1289	1289	‘‘section 152(f)(1)’’ and inserting ‘‘section 8
1290	1290	7706(f)(1)’’. 9
1291	1291	(63) Section 529(e)(2)(B) is amended by strik-10
1292	1292	ing ‘‘section 152(d)(2)’’ and inserting ‘‘section 11
1293	1293	7706(d)(2)’’. 12
1294	1294	(64) Section 529A(e)(4) is amended— 13
1295	1295	(A) by striking ‘‘section 152(d)(2)(B)’’ and 14
1296	1296	inserting ‘‘section 7706(d)(2)(B)’’, and 15
1297	1297	(B) by striking ‘‘section 152(f)(1)(B)’’ and 16
1298	1298	inserting ‘‘section 7706(f)(1)(B)’’. 17
1299	1299	(65) Section 643(a)(2) is amended— 18
1300	1300	(A) by striking ‘‘(relating to deduction for 19
1301	1301	personal exemptions)’’ and inserting ‘‘(relating 20
1302	1302	to basic deduction)’’, and 21
1303	1303	(B) by striking ‘‘D
1304	1304	EDUCTION FOR PER -22
1305	1305	SONAL EXEMPTION’’ in the heading thereof and 23
1306	1306	inserting ‘‘B
1307	1307	ASIC DEDUCTION’’. 24
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1311	1311	(66) Section 703(a)(2) is amended by striking 1
1312	1312	subparagraph (A) and by redesignating subpara-2
1313	1313	graphs (B) through (F) as subparagraphs (A) 3
1314	1314	through (E), respectively. 4
1315	1315	(67) Section 874 is amended by striking sub-5
1316	1316	section (b) and by redesignating subsection (c) as 6
1317	1317	subsection (b). 7
1318	1318	(68) Section 891 is amended by striking ‘‘under 8
1319	1319	section 151 and’’. 9
1320	1320	(69) Section 904(b)(1) is amended to read as 10
1321	1321	follows: 11
1322	1322	‘‘(1) D
1323	1323	EDUCTION FOR ESTATES AND TRUSTS .— 12
1324	1324	For purposes of subsection (a), the taxable income 13
1325	1325	of an estate or trust shall be computed without any 14
1326	1326	deduction under section 642(b).’’. 15
1327	1327	(70) Section 931(b)(1) is amended to read as 16
1328	1328	follows: 17
1329	1329	‘‘(1) any deduction from gross income, or’’. 18
1330	1330	(71) Section 933 is amended— 19
1331	1331	(A) by striking ‘‘as a deduction from his 20
1332	1332	gross income any deductions (other than the de-21
1333	1333	duction under section 151, relating to personal 22
1334	1334	exemptions)’’ in paragraph (1) and inserting 23
1335	1335	‘‘any deduction from gross income’’, and 24
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1339	1339	(B) by striking ‘‘as a deduction from his 1
1340	1340	gross income any deductions (other than the de-2
1341	1341	duction for personal exemptions under section 3
1342	1342	151)’’ in paragraph (2) and inserting ‘‘any de-4
1343	1343	duction from gross income’’. 5
1344	1344	(72) Section 1212(b)(2)(B)(ii) is amended to 6
1345	1345	read as follows: 7
1346	1346	‘‘(ii) in the case of an estate or trust, 8
1347	1347	the deduction allowed for such year under 9
1348	1348	section 642(b).’’. 10
1349	1349	(73) Section 1361(c)(1)(C) is amended by strik-11
1350	1350	ing ‘‘section 152(f)(1)(C)’’ and inserting ‘‘section 12
1351	1351	7706(f)(1)(C)’’. 13
1352	1352	(74) Section 1402(a) is amended by striking 14
1353	1353	paragraph (7). 15
1354	1354	(75) Section 2032A(c)(7)(D) is amended by 16
1355	1355	striking ‘‘section 152(f)(2)’’ and inserting ‘‘section 17
1356	1356	7706(f)(2)’’. 18
1357	1357	(76) Section 3402(f)(1)(A) is amended by strik-19
1358	1358	ing ‘‘for whom a deduction is allowable with respect 20
1359	1359	to another taxpayer under section 151’’ and insert-21
1360	1360	ing ‘‘who is a dependent of another taxpayer’’. 22
1361	1361	(77) Section 3402(m)(1) is amended by striking 23
1362	1362	‘‘other than the deductions referred to in section 24
1363	1363	151 and’’. 25
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1367	1367	(78) Section 3402(m)(3) is amended by striking 1
1368	1368	‘‘section 63(c)(3)’’ and inserting ‘‘section 63(f)’’. 2
1369	1369	(79) Section 3402(r)(2) is amended by striking 3
1370	1370	‘‘the sum of—’’ and all that follows and inserting 4
1371	1371	‘‘the basic standard deduction (as defined in section 5
1372	1372	63(c)) for an individual to whom section 63(c)(2)(C) 6
1373	1373	applies.’’. 7
1374	1374	(80) Section 5000A(b)(3)(A) is amended by 8
1375	1375	striking ‘‘section 152’’ and inserting ‘‘section 7706’’. 9
1376	1376	(81) Section 5000A(c)(4)(A) is amended by 10
1377	1377	striking ‘‘the number of individuals for whom the 11
1378	1378	taxpayer is allowed a deduction under section 151 12
1379	1379	(relating to allowance of deduction for personal ex-13
1380	1380	emptions) for the taxable year’’ and inserting ‘‘the 14
1381	1381	sum of 1 (2 in the case of a joint return) plus the 15
1382	1382	number of the taxpayer’s dependents for the taxable 16
1383	1383	year’’. 17
1384	1384	(82) Section 6013(b)(3)(A) is amended— 18
1385	1385	(A) by striking ‘‘had less than the exemp-19
1386	1386	tion amount of gross income’’ in clause (ii) and 20
1387	1387	inserting ‘‘had no gross income’’, 21
1388	1388	(B) by striking ‘‘had gross income of the 22
1389	1389	exemption amount or more’’ in clause (iii) and 23
1390	1390	inserting ‘‘had any gross income’’, and 24
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1394	1394	(C) by striking the flush language fol-1
1395	1395	lowing clause (iii). 2
1396	1396	(83) Section 6014(a) is amended by striking 3
1397	1397	‘‘section 6012(a)(1)(C)(i)’’ and inserting ‘‘section 4
1398	1398	6012(a)(1)(B)(iii)’’. 5
1399	1399	(84) Section 6014(b)(4) is amended by striking 6
1400	1400	‘‘63(c)(5)’’ and inserting ‘‘63(c)(4)’’. 7
1401	1401	(85) Section 6103(l)(13) is amended— 8
1402	1402	(A) in subparagraph (A), by striking 9
1403	1403	clause (iv) and redesignating clauses (v) and 10
1404	1404	(vi) as clauses (iv) and (v), respectively, and 11
1405	1405	(B) in subparagraph (C)(i), by striking 12
1406	1406	‘‘clauses (i) through (iv)’’ and inserting 13
1407	1407	‘‘clauses (i) through (iii)’’. 14
1408	1408	(86) Section 6103(l)(21)(A)(iii) is amended to 15
1409	1409	read as follows: 16
1410	1410	‘‘(iii) the number of the taxpayer’s de-17
1411	1411	pendents,’’. 18
1412	1412	(87) Section 6213(g)(2)(H) is amended by 19
1413	1413	striking ‘‘section 21 (relating to expenses for house-20
1414	1414	hold and dependent care services necessary for gain-21
1415	1415	ful employment) or section 151 (relating to allow-22
1416	1416	ance of deductions for personal exemptions)’’ and in-23
1417	1417	serting ‘‘subsection (a)(1)(B), (b)(1)(A)(ii), or 24
1418	1418	VerDate Sep 11 2014 05:50 Mar 07, 2023 Jkt 039200 PO 00000 Frm 00045 Fmt 6652 Sfmt 6201 E:\BILLS\H976.IH H976
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1420	1420	•HR 976 IH
1421	1421	(b)(1)(B) of section 2 or section 21, 35(d)(1)(B), 1
1422	1422	36B(b)(3)(B), or 63(f)(2)(B)’’. 2
1423	1423	(88) Section 6334(d) is amended— 3
1424	1424	(A) by amending paragraph (2) to read as 4
1425	1425	follows: 5
1426	1426	‘‘(2) E
1427	1427	XEMPT AMOUNT.— 6
1428	1428	‘‘(A) I
1429	1429	N GENERAL.—For purposes of para-7
1430	1430	graph (1), the term ‘exempt amount’ means an 8
1431	1431	amount equal to— 9
1432	1432	‘‘(i) the sum of the amount deter-10
1433	1433	mined under subparagraph (B) and the 11
1434	1434	standard deduction, divided by 12
1435	1435	‘‘(ii) 52. 13
1436	1436	‘‘(B) A
1437	1437	MOUNT DETERMINED .—For pur-14
1438	1438	poses of subparagraph (A), the amount deter-15
1439	1439	mined under this subparagraph is— 16
1440	1440	‘‘(i) the dollar amount in effect under 17
1441	1441	section 7706(d)(1)(B), multiplied by 18
1442	1442	‘‘(ii) the number of the taxpayer’s de-19
1443	1443	pendents for the taxable year in which the 20
1444	1444	levy occurs. 21
1445	1445	‘‘(C) V
1446	1446	ERIFIED STATEMENT .—Unless the 22
1447	1447	taxpayer submits to the Secretary a written and 23
1448	1448	properly verified statement specifying the facts 24
1449	1449	necessary to determine the proper amount 25
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1453	1453	under subparagraph (A), subparagraph (A) 1
1454	1454	shall be applied as if the taxpayer were a mar-2
1455	1455	ried individual filing a separate return with no 3
1456	1456	dependents.’’, and 4
1457	1457	(B) by striking paragraph (4). 5
1458	1458	(89) Section 7702B(f)(2)(C)(iii) is amended by 6
1459	1459	striking ‘‘section 152(d)(2)’’ and inserting ‘‘section 7
1460	1460	7706(d)(2)’’. 8
1461	1461	(90) Section 7703(a) is amended by striking 9
1462	1462	‘‘part V of subchapter B of chapter 1 and’’. 10
1463	1463	(91) Section 7703(b)(1) is amended by striking 11
1464	1464	‘‘section 152(f)(1))’’ and all that follows and insert-12
1465	1465	ing ‘‘section 7706(f)(1)) who is a dependent of such 13
1466	1466	individual for the taxable year (or would be but for 14
1467	1467	section 7706(e)),’’. 15
1468	1468	(92) Section 7706(a), as redesignated by this 16
1469	1469	section, is amended by striking ‘‘this subtitle’’ and 17
1470	1470	inserting ‘‘this title’’. 18
1471	1471	(93)(A) Section 7706(d)(1)(B), as redesignated 19
1472	1472	by this section, is amended by striking ‘‘the exemp-20
1473	1473	tion amount (as defined in section 151(d))’’ and in-21
1474	1474	serting ‘‘$4,150’’. 22
1475	1475	(B) Section 7706(d), as redesignated by this 23
1476	1476	section, is amended by adding at the end the fol-24
1477	1477	lowing new paragraph: 25
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1481	1481	‘‘(6) INFLATION ADJUSTMENT .—The $4,150 1
1482	1482	amount in paragraph (1)(B) shall be increased by an 2
1483	1483	amount equal to— 3
1484	1484	‘‘(A) such dollar amount, multiplied by 4
1485	1485	‘‘(B) the cost-of-living adjustment deter-5
1486	1486	mined under section 1(f)(3) for the calendar 6
1487	1487	year in which such taxable year begins, deter-7
1488	1488	mined by substituting ‘calendar year 2017’ for 8
1489	1489	‘calendar year 2016’ in subparagraph (A)(ii) 9
1490	1490	thereof. 10
1491	1491	If any increase determined under the preceding sen-11
1492	1492	tence is not a multiple of $50, such increase shall 12
1493	1493	be rounded to the next lowest multiple of $50.’’. 13
1494	1494	(94) Section 7706(e)(3), as redesignated by this 14
1495	1495	section, is amended by inserting ‘‘(as in effect before 15
1496	1496	its repeal)’’ after ‘‘section 151’’. 16
1497	1497	(95) Section 7706(f)(6)(B), as redesignated by 17
1498	1498	this section, is amended by striking clause (i) and 18
1499	1499	designating clauses (ii), (iii), and (iv) as clauses (i), 19
1500	1500	(ii), and (iii), respectively. 20
1501	1501	(96) The table of parts for subchapter B of 21
1502	1502	chapter 1 is amended by striking the item relating 22
1503	1503	to part V. 23
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1506	1506	•HR 976 IH
1507	1507	(97) The table of sections for chapter 79 is 1
1508	1508	amended by adding at the end the following new 2
1509	1509	item: 3
1510	1510	‘‘Sec. 7706. Dependent defined.’’.
1511	1511	(g) EFFECTIVEDATE.—The amendments made by 4
1512	1512	this section shall apply to taxable years beginning after 5
1513	1513	the date of the enactment of this Act. 6
1514	1514	SEC. 142. LIMITATION ON DEDUCTION FOR STATE AND 7
1515	1515	LOCAL, ETC., TAXES. 8
1516	1516	(a) I
1517	1517	NGENERAL.—Section 164(b)(6) is amended by 9
1518	1518	striking all that precedes ‘‘The preceding sentence’’ and 10
1519	1519	inserting the following: 11
1520	1520	‘‘(6) L
1521	1521	IMITATION ON INDIVIDUAL DEDUC -12
1522	1522	TIONS.—In the case of an individual— 13
1523	1523	‘‘(A) no deduction shall be allowed under 14
1524	1524	this chapter for foreign real property taxes paid 15
1525	1525	or accrued during the taxable year, and 16
1526	1526	‘‘(B) the aggregate amount of the deduc-17
1527	1527	tion allowed under this chapter for taxes de-18
1528	1528	scribed in paragraphs (1), (2), and (3) of sub-19
1529	1529	section (a) and paragraph (5) of this subsection 20
1530	1530	(and any tax described in any such paragraph 21
1531	1531	taken into account under section 216(a)(1)) 22
1532	1532	paid or accrued by the taxpayer during the tax-23
1533	1533	able year shall not exceed $10,000 ($5,000 in 24
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1537	1537	the case of a married individual filing a sepa-1
1538	1538	rate return).’’. 2
1539	1539	(b) E
1540	1540	FFECTIVEDATE.—The amendment made by 3
1541	1541	this section shall apply to taxable years beginning after 4
1542	1542	the date of the enactment of this Act. 5
1543	1543	SEC. 143. LIMITATION ON DEDUCTION FOR QUALIFIED RES-6
1544	1544	IDENCE INTEREST. 7
1545	1545	(a) I
1546	1546	NTEREST ONHOMEEQUITYINDEBTEDNESS.— 8
1547	1547	Section 163(h)(3)(A) is amended by striking ‘‘during the 9
1548	1548	taxable year on’’ and all that follows through ‘‘residence 10
1549	1549	of the taxpayer.’’ and inserting ‘‘during the taxable year 11
1550	1550	on acquisition indebtedness with respect to any qualified 12
1551	1551	residence of the taxpayer.’’. 13
1552	1552	(b) L
1553	1553	IMITATION ONACQUISITIONINDEBTEDNESS.— 14
1554	1554	Section 163(h)(3)(B)(ii) is amended to read as follows: 15
1555	1555	‘‘(ii) L
1556	1556	IMITATION.—The aggregate 16
1557	1557	amount treated as acquisition indebtedness 17
1558	1558	for any period shall not exceed the excess 18
1559	1559	(if any) of— 19
1560	1560	‘‘(I) $750,000 ($375,000, in the 20
1561	1561	case of a married individual filing a 21
1562	1562	separate return), over 22
1563	1563	‘‘(II) the sum of the aggregate 23
1564	1564	outstanding pre-October 13, 1987, in-24
1565	1565	debtedness (as defined in subpara-25
1566	1566	VerDate Sep 11 2014 05:50 Mar 07, 2023 Jkt 039200 PO 00000 Frm 00050 Fmt 6652 Sfmt 6201 E:\BILLS\H976.IH H976
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1568	1568	•HR 976 IH
1569	1569	graph (D)) plus the aggregate out-1
1570	1570	standing pre-December 15, 2017, in-2
1571	1571	debtedness (as defined in subpara-3
1572	1572	graph (C)).’’. 4
1573	1573	(c) T
1574	1574	REATMENT OF INDEBTEDNESS INCURRED ON 5
1575	1575	ORBEFOREDECEMBER15, 2017.—Section 163(h)(3)(C) 6
1576	1576	is amended to read as follows: 7
1577	1577	‘‘(C) T
1578	1578	REATMENT OF INDEBTEDNESS IN -8
1579	1579	CURRED ON OR BEFORE DECEMBER 15 , 2017.— 9
1580	1580	‘‘(i) I
1581	1581	N GENERAL.—In the case of any 10
1582	1582	pre-December 15, 2017, indebtedness, sub-11
1583	1583	paragraph (B)(ii) shall not apply and the 12
1584	1584	aggregate amount of such indebtedness 13
1585	1585	treated as acquisition indebtedness for any 14
1586	1586	period shall not exceed the excess (if any) 15
1587	1587	of— 16
1588	1588	‘‘(I) $1,000,000 ($500,000, in 17
1589	1589	the case of a married individual filing 18
1590	1590	a separate return), over 19
1591	1591	‘‘(II) the aggregate outstanding 20
1592	1592	pre-October 13, 1987, indebtedness 21
1593	1593	(as defined in subparagraph (D)). 22
1594	1594	‘‘(ii) P
1595	1595	RE-DECEMBER 15, 2017, IN-23
1596	1596	DEBTEDNESS.—For purposes of this sub-24
1597	1597	paragraph— 25
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1600	1600	•HR 976 IH
1601	1601	‘‘(I) IN GENERAL.—The term 1
1602	1602	‘pre-December 15, 2017, indebted-2
1603	1603	ness’ means indebtedness (other than 3
1604	1604	pre-October 13, 1987, indebtedness) 4
1605	1605	incurred on or before December 15, 5
1606	1606	2017. 6
1607	1607	‘‘(II) B
1608	1608	INDING WRITTEN CON -7
1609	1609	TRACT EXCEPTION.—In the case of a 8
1610	1610	taxpayer who enters into a written 9
1611	1611	binding contract before December 15, 10
1612	1612	2017, to close on the purchase of a 11
1613	1613	principal residence before January 1, 12
1614	1614	2018, and who purchases such resi-13
1615	1615	dence before April 1, 2018, the term 14
1616	1616	‘pre-December 15, 2017, indebted-15
1617	1617	ness’ shall include indebtedness se-16
1618	1618	cured by such residence. 17
1619	1619	‘‘(iii) R
1620	1620	EFINANCING INDEBTED -18
1621	1621	NESS.— 19
1622	1622	‘‘(I) I
1623	1623	N GENERAL.—In the case 20
1624	1624	of any indebtedness which is incurred 21
1625	1625	to refinance indebtedness, such refi-22
1626	1626	nanced indebtedness shall be treated 23
1627	1627	for purposes of this subparagraph as 24
1628	1628	incurred on the date that the original 25
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1631	1631	•HR 976 IH
1632	1632	indebtedness was incurred to the ex-1
1633	1633	tent the amount of the indebtedness 2
1634	1634	resulting from such refinancing does 3
1635	1635	not exceed the amount of the refi-4
1636	1636	nanced indebtedness. 5
1637	1637	‘‘(II) L
1638	1638	IMITATION ON PERIOD OF 6
1639	1639	REFINANCING.—Subclause (I) shall 7
1640	1640	not apply to any indebtedness after 8
1641	1641	the expiration of the term of the origi-9
1642	1642	nal indebtedness or, if the principal of 10
1643	1643	such original indebtedness is not am-11
1644	1644	ortized over its term, the expiration of 12
1645	1645	the term of the 1st refinancing of 13
1646	1646	such indebtedness (or if earlier, the 14
1647	1647	date which is 30 years after the date 15
1648	1648	of such 1st refinancing).’’. 16
1649	1649	(d) C
1650	1650	OORDINATIONWITHTREATMENT OF INDEBT-17
1651	1651	EDNESSINCURRED ON ORBEFOREOCTOBER13, 1987.— 18
1652	1652	Section 163(h)(3)(D) is amended— 19
1653	1653	(1) by striking clause (ii) and redesignating 20
1654	1654	clauses (iii) and (iv) as clauses (ii) and (iii), respec-21
1655	1655	tively, and 22
1656	1656	(2) in clause (iii) (as so redesignated)— 23
1657	1657	VerDate Sep 11 2014 05:50 Mar 07, 2023 Jkt 039200 PO 00000 Frm 00053 Fmt 6652 Sfmt 6201 E:\BILLS\H976.IH H976
1658	1658	kjohnson on DSK79L0C42PROD with BILLS 54
1659	1659	•HR 976 IH
1660	1660	(A) by striking ‘‘clause (iii)’’ in the matter 1
1661	1661	preceding subclause (I) and inserting ‘‘clause 2
1662	1662	(ii)’’, and 3
1663	1663	(B) by striking ‘‘clause (iii)(I)’’ in sub-4
1664	1664	clauses (I) and (II) and inserting ‘‘clause 5
1665	1665	(ii)(I)’’. 6
1666	1666	(e) C
1667	1667	OORDINATIONWITHEXCLUSION OF INCOME 7
1668	1668	F
1669	1669	ROM DISCHARGE OF INDEBTEDNESS.—Section 8
1670	1670	108(h)(2) is amended by striking ‘‘applied by substituting 9
1671	1671	‘$750,000 ($375,000’ for ‘$1,000,000 ($500,000’ in 10
1672	1672	clause (ii) thereof and’’. 11
1673	1673	(f) C
1674	1674	ONFORMINGAMENDMENT.—Section 163(h)(3) 12
1675	1675	is amended by striking subparagraph (F). 13
1676	1676	(g) E
1677	1677	FFECTIVEDATE.—The amendments made by 14
1678	1678	this section shall apply to taxable years beginning after 15
1679	1679	the date of the enactment of this Act. 16
1680	1680	SEC. 144. MODIFICATION OF DEDUCTION FOR PERSONAL 17
1681	1681	CASUALTY LOSSES. 18
1682	1682	(a) I
1683	1683	NGENERAL.—Section 165(h)(5)(A) is amended 19
1684	1684	by striking ‘‘in a taxable year beginning after December 20
1685	1685	31, 2017, and before January 1, 2026,’’. 21
1686	1686	(b) C
1687	1687	ONFORMINGAMENDMENTS.— 22
1688	1688	(1) Section 165(h)(5)(B) is amended by strik-23
1689	1689	ing ‘‘for any taxable year to which subparagraph (A) 24
1690	1690	applies’’. 25
1691	1691	VerDate Sep 11 2014 05:50 Mar 07, 2023 Jkt 039200 PO 00000 Frm 00054 Fmt 6652 Sfmt 6201 E:\BILLS\H976.IH H976
1692	1692	kjohnson on DSK79L0C42PROD with BILLS 55
1693	1693	•HR 976 IH
1694	1694	(2) Section 165(h)(5) is amended by striking 1
1695	1695	‘‘
1696	1696	FOR TAXABLE YEARS 2018 THROUGH 2025 ’’ in the 2
1697	1697	heading thereof and inserting ‘‘
1698	1698	TO LOSSES ATTRIB-3
1699	1699	UTABLE TO FEDERALLY DECLARED DISASTERS ’’. 4
1700	1700	(c) E
1701	1701	FFECTIVEDATE.—The amendments made by 5
1702	1702	this section shall apply to losses sustained in taxable years 6
1703	1703	beginning after the date of the enactment of this Act. 7
1704	1704	SEC. 145. TERMINATION OF MISCELLANEOUS ITEMIZED DE-8
1705	1705	DUCTIONS. 9
1706	1706	(a) I
1707	1707	NGENERAL.—Section 67 is amended— 10
1708	1708	(1) by amending subsection (a) to read as fol-11
1709	1709	lows: 12
1710	1710	‘‘(a) I
1711	1711	NGENERAL.—In the case of an individual, mis-13
1712	1712	cellaneous itemized deductions shall not be allowed.’’, and 14
1713	1713	(2) by striking subsection (g). 15
1714	1714	(b) M
1715	1715	OVEMENT OF DEFINITION OF ADJUSTED 16
1716	1716	G
1717	1717	ROSSINCOME FORESTATES ANDTRUSTS.— 17
1718	1718	(1) Section 67 is amended by striking sub-18
1719	1719	section (e). 19
1720	1720	(2) Section 641 is amended by adding at the 20
1721	1721	end the following new subsection: 21
1722	1722	‘‘(d) C
1723	1723	OMPUTATION OFADJUSTEDGROSSINCOME.— 22
1724	1724	For purposes of this title, the adjusted gross income of 23
1725	1725	an estate or trust shall be computed in the same manner 24
1726	1726	as in the case of an individual, except that— 25
1727	1727	VerDate Sep 11 2014 05:50 Mar 07, 2023 Jkt 039200 PO 00000 Frm 00055 Fmt 6652 Sfmt 6201 E:\BILLS\H976.IH H976
1728	1728	kjohnson on DSK79L0C42PROD with BILLS 56
1729	1729	•HR 976 IH
1730	1730	‘‘(1) the deductions for costs which are paid or 1
1731	1731	incurred in connection with the administration of the 2
1732	1732	estate or trust and which would not have been in-3
1733	1733	curred if the property were not held in such trust or 4
1734	1734	estate, and 5
1735	1735	‘‘(2) the deductions allowable under sections 6
1736	1736	642(b), 651, and 661, 7
1737	1737	shall be treated as allowable in arriving at adjusted gross 8
1738	1738	income.’’. 9
1739	1739	(c) C
1740	1740	ONFORMINGAMENDMENTS.— 10
1741	1741	(1) Section 56(b)(1)(A) is amended to read as 11
1742	1742	follows: 12
1743	1743	‘‘(A) C
1744	1744	ERTAIN TAXES .—No deduction 13
1745	1745	(other than a deduction allowable in computing 14
1746	1746	adjusted gross income) shall be allowed for any 15
1747	1747	taxes described in paragraph (1), (2), or (3) of 16
1748	1748	section 164(a) or clause (ii) of section 17
1749	1749	164(b)(5)(A).’’. 18
1750	1750	(2) Section 56(b)(1)(C), as amended by the 19
1751	1751	preceding provisions of this Act, is amended by 20
1752	1752	striking ‘‘subparagraph (A)(ii)’’ and inserting ‘‘sub-21
1753	1753	paragraph (A)’’. 22
1754	1754	(3) Section 62(a) is amended by striking ‘‘sub-23
1755	1755	title’’ in the matter preceding paragraph (1) and in-24
1756	1756	serting ‘‘title’’. 25
1757	1757	VerDate Sep 11 2014 05:50 Mar 07, 2023 Jkt 039200 PO 00000 Frm 00056 Fmt 6652 Sfmt 6201 E:\BILLS\H976.IH H976
1758	1758	kjohnson on DSK79L0C42PROD with BILLS 57
1759	1759	•HR 976 IH
1760	1760	(4) Section 641(c)(2)(E) is amended to read as 1
1761	1761	follows: 2
1762	1762	‘‘(E) Section 642(c) shall not apply.’’. 3
1763	1763	(5) Section 1411(a)(2) is amended by striking 4
1764	1764	‘‘(as defined in section 67(e))’’. 5
1765	1765	(6) Section 6654(d)(1)(C) is amended by strik-6
1766	1766	ing clause (iii). 7
1767	1767	(7) Section 67 is amended in the heading, by 8
1768	1768	striking ‘‘
1769	1769	2-PERCENT FLOOR ON ’’ and inserting 9
1770	1770	‘‘
1771	1771	DENIAL OF’’. 10
1772	1772	(8) The table of sections for part 1 of sub-11
1773	1773	chapter B of chapter 1 is amended by striking the 12
1774	1774	item relating to section 67 and inserting the fol-13
1775	1775	lowing new item: 14
1776	1776	‘‘Sec. 67. Denial of miscellaneous itemized deductions.’’.
1777	1777	(d) EFFECTIVEDATE.—The amendments made by 15
1778	1778	this section shall apply to taxable years beginning after 16
1779	1779	the date of the enactment of this Act. 17
1780	1780	SEC. 146. REPEAL OF OVERALL LIMITATION ON ITEMIZED 18
1781	1781	DEDUCTIONS. 19
1782	1782	(a) I
1783	1783	NGENERAL.—Part 1 of subchapter B of chapter 20
1784	1784	1 is amended by striking section 68 (and the item relating 21
1785	1785	to such section in the table of sections for such part). 22
1786	1786	(b) C
1787	1787	ONFORMINGAMENDMENTS.— 23
1788	1788	VerDate Sep 11 2014 05:50 Mar 07, 2023 Jkt 039200 PO 00000 Frm 00057 Fmt 6652 Sfmt 6201 E:\BILLS\H976.IH H976
1789	1789	kjohnson on DSK79L0C42PROD with BILLS 58
1790	1790	•HR 976 IH
1791	1791	(1) Section 56(b)(1), as amended by the pre-1
1792	1792	ceding provisions of this Act, is amended by striking 2
1793	1793	subparagraph (E). 3
1794	1794	(2) Section 164(b)(5)(H)(ii)(III) is amended by 4
1795	1795	striking ‘‘(as determined under section 68(b))’’. 5
1796	1796	(3) Section 164(b)(5)(H) is amended by adding 6
1797	1797	at the end the following new clause: 7
1798	1798	‘‘(iii) A
1799	1799	PPLICABLE AMOUNT DE -8
1800	1800	FINED.—For purposes of clause (ii), the 9
1801	1801	term ‘applicable amount’ means— 10
1802	1802	‘‘(I) $300,000 in the case of a 11
1803	1803	joint return or a surviving spouse, 12
1804	1804	‘‘(II) $275,000 in the case of a 13
1805	1805	head of household, 14
1806	1806	‘‘(III) $250,000 in the case of an 15
1807	1807	individual who is not married and who 16
1808	1808	is not a surviving spouse or head of 17
1809	1809	household, and 18
1810	1810	‘‘(IV)
1811	1811	1
1812	1812	⁄2the amount applicable 19
1813	1813	under subclause (I) in the case of a 20
1814	1814	married individual filing a separate 21
1815	1815	return. 22
1816	1816	For purposes of this paragraph, marital 23
1817	1817	status shall be determined under section 24
1818	1818	7703. In the case of any taxable year be-25
1819	1819	VerDate Sep 11 2014 05:50 Mar 07, 2023 Jkt 039200 PO 00000 Frm 00058 Fmt 6652 Sfmt 6201 E:\BILLS\H976.IH H976
1820	1820	kjohnson on DSK79L0C42PROD with BILLS 59
1821	1821	•HR 976 IH
1822	1822	ginning in calendar years after the date of 1
1823	1823	the enactment of this clause, each of the 2
1824	1824	dollar amounts in this clause shall be in-3
1825	1825	creased by an amount equal to such dollar 4
1826	1826	amount, multiplied by the cost-of-living ad-5
1827	1827	justment determined under section 1(f)(3) 6
1828	1828	for the calendar year in which the taxable 7
1829	1829	year begins, determined by substituting 8
1830	1830	‘2012’ for ‘2016’ in subparagraph (A)(ii) 9
1831	1831	thereof. If any amount after adjustment 10
1832	1832	under the preceding sentence is not a mul-11
1833	1833	tiple of $50, such amount shall be rounded 12
1834	1834	to the next lowest multiple of $50.’’. 13
1835	1835	(c) E
1836	1836	FFECTIVEDATE.—The amendments made by 14
1837	1837	this section shall apply to taxable years beginning after 15
1838	1838	the date of the enactment of this Act. 16
1839	1839	SEC. 147. TERMINATION OF EXCLUSION FOR QUALIFIED BI-17
1840	1840	CYCLE COMMUTING REIMBURSEMENT. 18
1841	1841	(a) I
1842	1842	NGENERAL.—Section 132(f)(1) is amended by 19
1843	1843	striking subparagraph (D). 20
1844	1844	(b) C
1845	1845	ONFORMINGAMENDMENTS.— 21
1846	1846	(1) Section 132(f)(2) is amended by adding 22
1847	1847	‘‘and’’ at the end of subparagraph (A), striking ‘‘, 23
1848	1848	and’’ at the end of subparagraph (B) and inserting 24
1849	1849	a period, and striking subparagraph (C). 25
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1851	1851	kjohnson on DSK79L0C42PROD with BILLS 60
1852	1852	•HR 976 IH
1853	1853	(2) Section 132(f)(4) is amended by striking 1
1854	1854	‘‘(other than a qualified bicycle commuting reim-2
1855	1855	bursement)’’. 3
1856	1856	(3) Section 132(f) is amended by striking para-4
1857	1857	graph (8). 5
1858	1858	(4) Section 274(l)(2) is amended by striking 6
1859	1859	‘‘after December 31, 2017, and before January 1, 7
1860	1860	2026’’. 8
1861	1861	(c) E
1862	1862	FFECTIVEDATE.—The amendments made by 9
1863	1863	this section shall apply to taxable years beginning after 10
1864	1864	the date of the enactment of this Act. 11
1865	1865	SEC. 148. QUALIFIED MOVING EXPENSE REIMBURSEMENT 12
1866	1866	EXCLUSION LIMITED TO MEMBERS OF 13
1867	1867	ARMED FORCES. 14
1868	1868	(a) I
1869	1869	NGENERAL.—Section 132(g) is amended— 15
1870	1870	(1) by striking ‘‘by an individual’’ in paragraph 16
1871	1871	(1) and inserting ‘‘by a qualified military indi-17
1872	1872	vidual’’, and 18
1873	1873	(2) by striking paragraph (2) and inserting the 19
1874	1874	following new paragraph: 20
1875	1875	‘‘(2) Q
1876	1876	UALIFIED MILITARY INDIVIDUAL .—For 21
1877	1877	purposes of this subsection, the term ‘qualified mili-22
1878	1878	tary individual’ means a member of the Armed 23
1879	1879	Forces of the United States on active duty who 24
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1881	1881	kjohnson on DSK79L0C42PROD with BILLS 61
1882	1882	•HR 976 IH
1883	1883	moves pursuant to a military order and incident to 1
1884	1884	a permanent change of station.’’. 2
1885	1885	(b) E
1886	1886	FFECTIVEDATE.—The amendments made by 3
1887	1887	this section shall apply to taxable years beginning after 4
1888	1888	the date of the enactment of this Act. 5
1889	1889	SEC. 149. DEDUCTION FOR MOVING EXPENSES LIMITED TO 6
1890	1890	MEMBERS OF ARMED FORCES. 7
1891	1891	(a) I
1892	1892	NGENERAL.—Section 217 is amended— 8
1893	1893	(1) by amending subsection (a) to read as fol-9
1894	1894	lows: 10
1895	1895	‘‘(a) D
1896	1896	EDUCTIONALLOWED.—There shall be allowed 11
1897	1897	as a deduction moving expenses paid or incurred during 12
1898	1898	the taxable year by a member of the Armed Forces of the 13
1899	1899	United States on active duty who moves pursuant to a 14
1900	1900	military order and incident to a permanent change of sta-15
1901	1901	tion.’’, 16
1902	1902	(2) by striking subsections (c), (d), (f), (g), and 17
1903	1903	(k) and redesignating subsections (h), (i), and (j) as 18
1904	1904	subsections (c), (d), and (f), respectively, and 19
1905	1905	(3) by inserting after subsection (d), as so re-20
1906	1906	designated, the following new subsection: 21
1907	1907	‘‘(e) E
1908	1908	XPENSESFURNISHEDIN-KIND.—Any moving 22
1909	1909	and storage expenses which are furnished in-kind (or for 23
1910	1910	which reimbursement or an allowance is provided, but only 24
1911	1911	to the extent of the expenses paid or incurred)— 25
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1914	1914	•HR 976 IH
1915	1915	‘‘(1) to a member described in subsection (a), 1
1916	1916	or to such member’s spouse or dependents, shall not 2
1917	1917	be includible in gross income, and no reporting with 3
1918	1918	respect to such expenses shall be required by the 4
1919	1919	Secretary of Defense or the Secretary of Transpor-5
1920	1920	tation, as the case may be, and 6
1921	1921	‘‘(2) to the spouse and dependents of a member 7
1922	1922	described in subsection (a) with regard to moving to 8
1923	1923	a location other than the one to which such member 9
1924	1924	moves (or from a location other than the one from 10
1925	1925	which such member moves), this section shall apply 11
1926	1926	with respect to the moving expenses of such spouse 12
1927	1927	and dependents as if such spouse were a member de-13
1928	1928	scribed in subsection (a).’’. 14
1929	1929	(b) C
1930	1930	ONFORMINGAMENDMENTS.— 15
1931	1931	(1) Subsections (d)(3)(C) and (e) of section 23 16
1932	1932	are each amended by striking ‘‘section 217(h)(3)’’ 17
1933	1933	and inserting ‘‘section 217(c)(3)’’. 18
1934	1934	(2) Section 7872(f) is amended by striking 19
1935	1935	paragraph (11). 20
1936	1936	(3) Section 217 is amended in the heading by 21
1937	1937	striking ‘‘
1938	1938	MOVING EXPENSES ’’ and inserting 22
1939	1939	‘‘
1940	1940	CERTAIN MOVING EXPENSES OF MEMBERS OF 23
1941	1941	ARMED FORCES ’’. 24
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1943	1943	kjohnson on DSK79L0C42PROD with BILLS 63
1944	1944	•HR 976 IH
1945	1945	(4) The table of sections for part VII of sub-1
1946	1946	chapter B of chapter 1 is amended by striking the 2
1947	1947	item relating to section 217 and inserting the fol-3
1948	1948	lowing new item: 4
1949	1949	‘‘Sec. 217. Certain moving expenses of members of Armed Forces.’’.
1950	1950	(c) EFFECTIVEDATE.—The amendments made by 5
1951	1951	this section shall apply to taxable years beginning after 6
1952	1952	the date of the enactment of this Act. 7
1953	1953	SEC. 150. LIMITATION ON WAGERING LOSSES. 8
1954	1954	(a) I
1955	1955	NGENERAL.—Section 165(d) is amended by 9
1956	1956	striking ‘‘in the case of taxable years beginning after De-10
1957	1957	cember 31, 2017, and before January 1, 2026,’’. 11
1958	1958	(b) E
1959	1959	FFECTIVEDATE.—The amendment made by 12
1960	1960	this section shall apply to taxable years beginning after 13
1961	1961	the date of the enactment of this Act. 14
1962	1962	Subtitle F—Increase in Estate and 15
1963	1963	Gift Tax Exemption 16
1964	1964	SEC. 151. INCREASE IN ESTATE AND GIFT TAX EXEMPTION. 17
1965	1965	(a) I
1966	1966	NGENERAL.—Section 2010(c)(3) is amended in 18
1967	1967	subparagraph (A), by striking ‘‘$5,000,000’’ and inserting 19
1968	1968	‘‘$10,000,000’’. 20
1969	1969	(b) C
1970	1970	ONFORMINGAMENDMENT.—Section 2010(c)(3) 21
1971	1971	is amended by striking subparagraph (C). 22
1972	1972	(c) E
1973	1973	FFECTIVEDATE.—The amendments made by 23
1974	1974	this section shall apply to estates of decedents dying and 24
1975	1975	gifts made after the date of the enactment of this Act. 25
1976	1976	VerDate Sep 11 2014 05:50 Mar 07, 2023 Jkt 039200 PO 00000 Frm 00063 Fmt 6652 Sfmt 6201 E:\BILLS\H976.IH H976
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1978	1978	•HR 976 IH
1979	1979	TITLE II—INCREASED EXEMP-1
1980	1980	TION FOR ALTERNATIVE MIN-2
1981	1981	IMUM TAX MADE PERMANENT 3
1982	1982	SEC. 201. INCREASED EXEMPTION FOR INDIVIDUALS. 4
1983	1983	(a) I
1984	1984	NGENERAL.—Section 55(d)(1) is amended— 5
1985	1985	(1) by striking ‘‘$78,750’’ in subparagraph (A) 6
1986	1986	and inserting ‘‘$109,400’’, and 7
1987	1987	(2) by striking ‘‘$50,600’’ in subparagraph (B) 8
1988	1988	and inserting ‘‘$70,300’’. 9
1989	1989	(b) P
1990	1990	HASE-OUT OFEXEMPTIONAMOUNT.—Section 10
1991	1991	55(d)(2) is amended— 11
1992	1992	(1) by striking ‘‘$150,000’’ in subparagraph 12
1993	1993	(A) and inserting ‘‘$1,000,000’’, and 13
1994	1994	(2) by striking subparagraphs (B) and (C) and 14
1995	1995	by inserting the following new subparagraphs: 15
1996	1996	‘‘(B) 50 percent of the dollar amount ap-16
1997	1997	plicable under subparagraph (A) in the case of 17
1998	1998	a taxpayer described in paragraph (1)(B) or 18
1999	1999	(1)(C), and 19
2000	2000	‘‘(C) $75,000 in the case of a taxpayer de-20
2001	2001	scribed in paragraph (1)(D).’’. 21
2002	2002	(c) I
2003	2003	NFLATIONADJUSTMENT.—Section 55(d)(3) is 22
2004	2004	amended to read as follows: 23
2005	2005	‘‘(3) I
2006	2006	NFLATION ADJUSTMENT .—Each dollar 24
2007	2007	amount described in clause (i) or (ii) of subpara-25
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2009	2009	kjohnson on DSK79L0C42PROD with BILLS 65
2010	2010	•HR 976 IH
2011	2011	graph (B) shall be increased by an amount equal 1
2012	2012	to— 2
2013	2013	‘‘(A) such dollar amount, multiplied by 3
2014	2014	‘‘(B) the cost-of-living adjustment deter-4
2015	2015	mined under section 1(f)(3) for the calendar 5
2016	2016	year in which the taxable year begins, deter-6
2017	2017	mined by substituting— 7
2018	2018	‘‘(i) in the case of a dollar amount 8
2019	2019	contained in paragraph (1)(D) or (2)(C) or 9
2020	2020	in subsection (b)(1)(A), ‘calendar year 10
2021	2021	2011’ for ‘calendar year 2016’ in subpara-11
2022	2022	graph (A)(ii) thereof, and 12
2023	2023	‘‘(ii) in the case of a dollar amount 13
2024	2024	contained in paragraph (1)(A), (1)(B), or 14
2025	2025	(2)(A), ‘calendar year 2017’ for ‘calendar 15
2026	2026	year 2016’ in subparagraph (A)(ii) thereof. 16
2027	2027	Any increased amount determined under this para-17
2028	2028	graph shall be rounded to the nearest multiple of 18
2029	2029	$100 ($50 in the case of the dollar amount con-19
2030	2030	tained in paragraph (2)(C)).’’. 20
2031	2031	(d) R
2032	2032	EPEAL OFCOORDINATIONWITHRULESRELAT-21
2033	2033	ING TO THETAXATION OFUNEARNEDCHILDREN.—Sec-22
2034	2034	tion 59 is amended by striking subsection (j). 23
2035	2035	(e) C
2036	2036	ONFORMINGAMENDMENT.—Section 55(d) is 24
2037	2037	amended by striking paragraph (4). 25
2038	2038	VerDate Sep 11 2014 05:50 Mar 07, 2023 Jkt 039200 PO 00000 Frm 00065 Fmt 6652 Sfmt 6201 E:\BILLS\H976.IH H976
2039	2039	kjohnson on DSK79L0C42PROD with BILLS 66
2040	2040	•HR 976 IH
2041	2041	(f) EFFECTIVEDATE.—The amendments made by 1
2042	2042	this section shall apply to taxable years beginning after 2
2043	2043	the date of the enactment of this Act. 3
2044	2044	Æ
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2046	2046	kjohnson on DSK79L0C42PROD with BILLS