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139 STAT. 166 PUBLIC LAW 119–21—JULY 4, 2025 of this section in the same manner as an individual to whom subsection (g) applies.’’. (c) EXTENSION OF LIMITATION ON EXCLUSION.—Section 132(g)(2) is amended— (1) by striking ‘‘, and before January 1, 2026’’, and (2) by striking ‘‘2018 THROUGH 2025’’ in the heading and inserting ‘‘BEGINNING AFTER 2017’’. (d) ALLOWANCE OF EXCLUSION FOR MEMBERS OF THE INTEL- LIGENCE COMMUNITY.—Section 132(g)(2) of the Internal Revenue Code of 1986 is amended by inserting ‘‘, or an employee or new appointee of the intelligence community (as defined in section 3 of the National Security Act of 1947 (50 U.S.C. 3003)) (other than a member of the Armed Forces of the United States) who moves pursuant to a change in assignment that requires relocation’’ after ‘‘change of station’’. (e) EFFECTIVE DATE.—The amendments made by this section shall apply to taxable years beginning after December 31, 2025. SEC. 70114. EXTENSION AND MODIFICATION OF LIMITATION ON WAGERING LOSSES. (a) IN GENERAL.—Section 165 is amended by striking subsection (d) and inserting the following: ‘‘(d) WAGERING LOSSES.— ‘‘(1) IN GENERAL.—For purposes of losses from wagering transactions, the amount allowed as a deduction for any taxable year— ‘‘(A) shall be equal to 90 percent of the amount of such losses during such taxable year, and ‘‘(B) shall be allowed only to the extent of the gains from such transactions during such taxable year. ‘‘(2) SPECIAL RULE.—For purposes of paragraph (1), the term ‘losses from wagering transactions’ includes any deduction otherwise allowable under this chapter incurred in carrying on any wagering transaction.’’. (b) EFFECTIVE DATE.—The amendment made by this section shall apply to taxable years beginning after December 31, 2025. SEC. 70115. EXTENSION AND ENHANCEMENT OF INCREASED LIMITA- TION ON CONTRIBUTIONS TO ABLE ACCOUNTS. (a) IN GENERAL.—Section 529A(b)(2)(B) is amended— (1) in clause (i), by inserting ‘‘(determined by substituting ‘1996’ for ‘1997’ in paragraph (2)(B) thereof)’’ after ‘‘section 2503(b)’’, and (2) in clause (ii), by striking ‘‘before January 1, 2026’’. (b) EFFECTIVE DATES.— (1) IN GENERAL.—Except as otherwise provided in this sub- section, the amendments made by this section shall apply to contributions made after December 31, 2025. (2) MODIFIED INFLATION ADJUSTMENT.—The amendment made by subsection (a)(1) shall apply to taxable years beginning after December 31, 2025. SEC. 70116. EXTENSION AND ENHANCEMENT OF SAVERS CREDIT ALLOWED FOR ABLE CONTRIBUTIONS. (a) EXTENSION.— (1) IN GENERAL.—Section 25B(d)(1) is amended to read as follows: Applicability. 26 USC 529A note. 26 USC 165 note. Definition. 26 USC 132 note.