To modify the income threshold used to calculate the refundable portion of the child tax credit.

1. Adds SEC. __. $10,000 INCOME THRESHOLD USED TO CALCULATE REFUNDABLE PORTION OF CHILD TAX CREDIT at the end of title IV

   Adds a section

   In S. 2020 · Placed on Calendar Senate

   (d) Effective Date.--The amendments made by this section shall apply to amounts paid or accrued during the period beginning after December 31, 2006, and before January 1, 2008, and properly allocable to such period, with respect to mortgage insurance contracts issued after December 31, 2006.

   Inserted: SEC. __. $10,000 INCOME THRESHOLD USED TO CALCULATE REFUNDABLE PORTION OF CHILD TAX CREDIT.

   Inserted: (a) In General.--Section 24(d) (relating to portion of credit refundable) is amended--

   Inserted: (1) by striking "as exceeds" and all that follows through ", or" in paragraph (1)(B)(i) and inserting "as exceeds $10,000, or", and

   Inserted: (2) by striking paragraph (3).

   Inserted: (b) Effective Date.--The amendments made by this section shall apply to taxable years beginning after December 31, 2004.

   Inserted: (c) Application of Sunset to This Section.--Each amendment made by this section shall be subject to title IX of the Economic Growth and Tax Relief Reconciliation Act of 2001 to the same extent and in the same manner as the provision of such Act to which such amendment relates.

   Original wording

   At the end of title IV, add the following:

Read automatically from the Congressional Record. Check the original before relying on it.

As printed