S.Amdt. 1614

SA 1614. Ms. COLLINS submitted an amendment intended to be proposed
by her to the bill H.R. 1, to provide for reconciliation pursuant to
titles II and V of the concurrent resolution on the budget for fiscal
year 2018; which was ordered to lie on the table; as follows:

At the end of part III of subtitle A of title I, insert the
following:

SEC. 2. REFUNDABILITY OF CHILD AND DEPENDENT CARE TAX CREDIT.

(a) In General.--The Internal Revenue Code of 1986 is
amended--
(1) by redesignating section 21 as section 36C, and
(2) by moving section 36C, as so redesignated, from subpart
A of part IV of subchapter A of chapter 1 to the location
immediately before section 37 in subpart C of part IV of
subchapter A of chapter 1.
(b) Adjustment for Inflation.--Section 36C, as redesignated
by subsection (a), is amended--
(1) by redesignating subsection (f) as subsection (g), and
(2) by inserting after subsection (e) the following new
subsection:
``(f) Inflation Adjustment.--
``(1) In general.--In the case of any taxable year
beginning after 2017, each of the dollar amounts in
subsections (a)(2) and (c) shall be increased by an amount
equal to--
``(A) such dollar amount, multiplied by
``(B) the cost-of-living adjustment determined under
section 1(f)(3) for the calendar year in which the taxable
year begins.
``(2) Rounding.--If any increase determined under paragraph
(1) is not a multiple of $50, such increase shall be rounded
to the nearest multiple of $50.''.
(c) Technical Amendments.--
(1) Paragraph (1) of section 23(f) is amended by striking
``21(e)'' and inserting ``36C(e)''.
(2) Paragraph (6) of section 35(g) is amended by striking
``21(e)'' and inserting ``36C(e)''.
(3) Paragraph (1) of section 36C(a) (as redesignated by
subsection (a)) is amended by striking ``this chapter'' and
inserting ``this subtitle''.
(4) Subparagraph (C) of section 129(a)(2) is amended by
striking ``section 21(e)'' and inserting ``section 36C(e)''.
(5) Paragraph (2) of section 129(b) is amended by striking
``section 21(d)(2)'' and inserting ``section 36C(d)(2)''.
(6) Paragraph (1) of section 129(e) is amended by striking
``section 21(b)(2)'' and inserting ``section 36C(b)(2)''.
(7) Subsection (e) of section 213 is amended by striking
``section 21'' and inserting ``section 36C''.
(8) Subparagraph (H) of section 6213(g)(2) is amended by
striking ``section 21'' and inserting ``section 36C''.
(9) Subparagraph (L) of section 6213(g)(2) is amended by
striking ``section 21, 24, or 32,'' and inserting ``section
24, 32, or 36C,''.
(10) Paragraph (2) of section 1324(b) of title 31, United
States Code, is amended by inserting ``36C,'' after ``36B,''.
(11) The table of sections for subpart C of part IV of
subchapter A of chapter 1 is amended by inserting after the
item relating to section 36B the following:

``Sec. 36C. Expenses for household and dependent care services
necessary for gainful employment.''.

(12) The table of sections for subpart A of such part IV is
amended by striking the item relating to section 21.
(d) Effective Date.--The amendments made by subsections
(a), (b), and (c) shall apply to taxable years beginning
after December 31, 2017.
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