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[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4935 Reported in House (RH)]

                                                 Union Calendar No. 393
113th CONGRESS
  2d Session
                                H. R. 4935

                          [Report No. 113-527]

To amend the Internal Revenue Code of 1986 to make improvements to the 
                           child tax credit.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                             June 23, 2014

  Ms. Jenkins (for herself, Mr. Kelly of Pennsylvania, and Mr. Nunes) 
 introduced the following bill; which was referred to the Committee on 
                             Ways and Means

                             July 17, 2014

                      Additional sponsor: Mr. Reed

                             July 17, 2014

  Reported with an amendment, committed to the Committee of the Whole 
       House on the State of the Union, and ordered to be printed
 [Strike out all after the enacting clause and insert the part printed 
                               in italic]

_______________________________________________________________________

                                 A BILL

 
To amend the Internal Revenue Code of 1986 to make improvements to the 
                           child tax credit.

 

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

<DELETED>SECTION 1. SHORT TITLE.</DELETED>

<DELETED>    This Act may be cited as the ``Child Tax Credit 
Improvement Act of 2014''.</DELETED>

<DELETED>SEC. 2. IMPROVEMENTS TO CHILD TAX CREDIT.</DELETED>

<DELETED>    (a) Elimination of Marriage Penalty.--Section 24(b)(2) of 
the Internal Revenue Code of 1986 is amended by striking ``means--'' 
and all that follows and inserting ``means $75,000 (twice such amount 
in the case of a joint return).''.</DELETED>
<DELETED>    (b) Inflation Adjustment of Credit Amount and Phaseout 
Thresholds.--Section 24 of such Code is amended by adding at the end 
the following new subsection:</DELETED>
<DELETED>    ``(g) Inflation Adjustment.--</DELETED>
        <DELETED>    ``(1) In general.--In the case of any taxable year 
        beginning in a calendar year after 2014, the $1,000 amount in 
        subsection (a) and the $75,000 amount in subsection (b)(2) 
        shall each be increased by an amount equal to--</DELETED>
                <DELETED>    ``(A) such dollar amount, multiplied 
                by</DELETED>
                <DELETED>    ``(B) the cost-of-living adjustment 
                determined under section 1(f)(3) for the calendar year 
                in which the taxable year begins, determined by 
                substituting `calendar year 2013' for `calendar year 
                1992' in subparagraph (B) thereof.</DELETED>
        <DELETED>    ``(2) Rounding.--Any increase determined under 
        paragraph (1) shall be rounded--</DELETED>
                <DELETED>    ``(A) in the case of the $1,000 amount in 
                subsection (a), to the nearest multiple of $50, 
                and</DELETED>
                <DELETED>    ``(B) in the case of the $75,000 amount in 
                subsection (b)(2), to the nearest multiple of 
                $1,000.''.</DELETED>
<DELETED>    (c) Effective Date.--The amendments made by this section 
shall apply to taxable years beginning after December 31, 
2014.</DELETED>

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Child Tax Credit Improvement Act of 
2014''.

SEC. 2. IMPROVEMENTS TO CHILD TAX CREDIT.

    (a) Elimination of Marriage Penalty.--Section 24(b)(2) of the 
Internal Revenue Code of 1986 is amended by striking ``means--'' and 
all that follows and inserting ``means $75,000 (twice such amount in 
the case of a joint return).''.
    (b) Inflation Adjustment of Credit Amount and Phaseout 
Thresholds.--Section 24 of such Code is amended by adding at the end 
the following new subsection:
    ``(g) Inflation Adjustment.--
            ``(1) In general.--In the case of any taxable year 
        beginning after 2014, the $1,000 amount in subsection (a) and 
        the $75,000 amount in subsection (b)(2) shall each 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, determined by substituting 
                `calendar year 2013' for `calendar year 1992' in 
                subparagraph (B) thereof.
            ``(2) Rounding.--Any increase determined under paragraph 
        (1) shall be rounded--
                    ``(A) in the case of the $1,000 amount in 
                subsection (a), to the nearest multiple of $50, and
                    ``(B) in the case of the $75,000 amount in 
                subsection (b)(2), to the nearest multiple of 
                $1,000.''.
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2014.
                                                 Union Calendar No. 393

113th CONGRESS

  2d Session

                               H. R. 4935

                          [Report No. 113-527]

_______________________________________________________________________

                                 A BILL

To amend the Internal Revenue Code of 1986 to make improvements to the 
                           child tax credit.

_______________________________________________________________________

                             July 17, 2014

  Reported with an amendment, committed to the Committee of the Whole 
       House on the State of the Union, and ordered to be printed
```