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107 STAT. 434 PUBLIC LAW 103-66—AUG. 10, 1993 "(C) TRANSITIONAL PERCENTAGES FOR 1994.—In the case of a taxable year beginning in 1994: In the case of an eligible q- ... nercentaire is- '"*® phaseout percentage individual with: ^"® *^™**^' percentage is. ^. 1 qualifying child 26.3 15.98 2 or more qualifying 30 17.68 children No qualifying children 7.65 7.66 "(2) AMOUNTS.—^The earned income amount and the phase- out amoimt shall be determined as follows: "(A) IN GENERAL.—^In the case of taxable years begin- ning after 1994: '"'ina^'Si^"' ""SIZftT"" 11.eph««,ut.mou„.»: 1 qualifying child $6,000 $11,000 2 or more qualifying $8,425 $11,000 children No qualifying children $4,000 $5,000 "(B) TRANSITIONAL AMOUNTS.—In the case of a taxable year beginning in 1994: In the case of an eligible The earned income qru^ «KOO»,«.,* «.«»..»4-;». individual with: amount is: The phaseout amount is: 1 qualifying child $7,750 $11,000 2 or more qualifying $8,425 $11,000 children No qualifying children $4,000 $5,000". 26 use 32. (b) ELIGIBLE INDIVIDUAL.—Subparagraph (A) of section 32(cXl) (defining eligible individual) is amended to read as follows: "(A) IN GENERAL.—The term 'eligible individual' means— "(i) any individual who has a qualifying child for the taxable year, or "(ii) any other individual who does not have a qualifying child for the taxable year, if— "(I) such individual's principal place of abode is in the United States for more than one-half of such taxable year, "(II) such individual (or, if the individual is married, either the individual or the individual's spouse) has attained age 25 but not attained age 65 before the close of the taxable year, and "(III) such individual is not a dependent for whom a deduction is allowable imder section 151 to another taxpayer for any taxable year beginning in the same calendar year as such taxable year. For purposes of the preceding sentence, marital status shall be determined under section 7703." (c) INFLATION ADJUSTMENTS.—Section 32(i) (relating to inflation adjustments) is amended— (1) by striking paragraphs (1) and (2) and inserting the following new paragraph: