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131 STAT. 2073 PUBLIC LAW 115–97—DEC. 22, 2017 ‘‘(i) IN GENERAL.—Paragraph (4) shall not apply to the dollar amounts contained in paragraphs (2)(B) and (2)(C). ‘‘(ii) ADJUSTMENT OF INCREASED AMOUNTS.—In the case of a taxable year beginning after 2018, the $18,000 and $12,000 amounts in subparagraph (A) shall each be increased by an amount equal to— ‘‘(I) such dollar amount, multiplied by ‘‘(II) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, determined by sub- stituting ‘2017’ for ‘2016’ in subparagraph (A)(ii) thereof. If any increase under this clause is not a multiple of $50, such increase shall be rounded to the next lowest multiple of $50.’’. (b) EFFECTIVE DATE.—The amendment made by this section shall apply to taxable years beginning after December 31, 2017. SEC. 11022. INCREASE IN AND MODIFICATION OF CHILD TAX CREDIT. (a) IN GENERAL.—Section 24 is amended by adding at the end the following new subsection: ‘‘(h) SPECIAL RULES FOR TAXABLE YEARS 2018 THROUGH 2025.— ‘‘(1) IN GENERAL.—In the case of a taxable year beginning after December 31, 2017, and before January 1, 2026, this section shall be applied as provided in paragraphs (2) through (7). ‘‘(2) CREDIT AMOUNT.—Subsection (a) shall be applied by substituting ‘$2,000’ for ‘$1,000’. ‘‘(3) LIMITATION.—In lieu of the amount determined under subsection (b)(2), the threshold amount shall be $400,000 in the case of a joint return ($200,000 in any other case). ‘‘(4) PARTIAL CREDIT ALLOWED FOR CERTAIN OTHER DEPEND- ENTS.— ‘‘(A) IN GENERAL.—The credit determined under sub- section (a) (after the application of paragraph (2)) shall be increased by $500 for each dependent of the taxpayer (as defined in section 152) other than a qualifying child described in subsection (c). ‘‘(B) EXCEPTION FOR CERTAIN NONCITIZENS.—Subpara- graph (A) shall not apply with respect to any individual who would not be a dependent if subparagraph (A) of section 152(b)(3) were applied without regard to all that follows ‘resident of the United States’. ‘‘(C) CERTAIN QUALIFYING CHILDREN.—In the case of any qualifying child with respect to whom a credit is not allowed under this section by reason of paragraph (7), such child shall be treated as a dependent to whom subparagraph (A) applies. ‘‘(5) MAXIMUM AMOUNT OF REFUNDABLE CREDIT.— ‘‘(A) IN GENERAL.—The amount determined under sub- section (d)(1)(A) with respect to any qualifying child shall not exceed $1,400, and such subsection shall be applied without regard to paragraph (4) of this subsection. ‘‘(B) ADJUSTMENT FOR INFLATION.—In the case of a taxable year beginning after 2018, the $1,400 amount in 26 USC 24. 26 USC 63 note. VerDate Sep 11 2014 10:09 Oct 18, 2018 Jkt 079139 PO 00097 Frm 00021 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL097.115 PUBL097 dkrause on DSKBC28HB2PROD with PUBLAWS