Source: http://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section25B&num=0&edition=prelim
Timestamp: 2019-04-25 23:47:48+00:00

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In the case of an eligible individual, there shall be allowed as a credit against the tax imposed by this subtitle for the taxable year an amount equal to the applicable percentage of so much of the qualified retirement savings contributions of the eligible individual for the taxable year as do not exceed $2,000.
(D) if the adjusted gross income of the taxpayer is over $50,000, zero percent.
(B) any taxpayer not described in paragraph (1) or subparagraph (A), the applicable percentage shall be determined under paragraph (1) except that such paragraph shall be applied by substituting for each dollar amount therein (as adjusted under paragraph (3)) a dollar amount equal to 50 percent of such dollar amount.
(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 2005" for "calendar year 2016" in subparagraph (A)(ii) thereof.
Any increase determined under the preceding sentence shall be rounded to the nearest multiple of $500.
The term "eligible individual" means any individual if such individual has attained the age of 18 as of the close of the taxable year.
(B) any individual who is a student (as defined in section 152(f)(2)).
(D) the amount of contributions made before January 1, 2026, by such individual to the ABLE account (within the meaning of section 529A) of which such individual is the designated beneficiary.
The qualified retirement savings contributions determined under paragraph (1) shall be reduced (but not below zero) by the aggregate distributions received by the individual during the testing period from any entity of a type to which contributions under paragraph (1) may be made. The preceding sentence shall not apply to the portion of any distribution which is not includible in gross income by reason of a trustee-to-trustee transfer or a rollover distribution.
(iii) the period after such taxable year and before the due date (including extensions) for filing the return of tax for such taxable year.
(ii) any distribution to which section 408A(d)(3) applies.
For purposes of determining distributions received by an individual under subparagraph (A) for any taxable year, any distribution received by the spouse of such individual shall be treated as received by such individual if such individual and spouse file a joint return for such taxable year and for the taxable year during which the spouse receives the distribution.
For purposes of this section, adjusted gross income shall be determined without regard to sections 911, 931, and 933.
Notwithstanding any other provision of law, a qualified retirement savings contribution shall not fail to be included in determining the investment in the contract for purposes of section 72 by reason of the credit under this section.
For inflation adjustment of certain items in this section, see Revenue Procedures listed in a table under section 1 of this title and Revenue Notices listed in a table under section 401 of this title.
2017-Subsec. (b)(3)(B). Pub. L. 115–97, §11002(d)(1)(C), substituted "for 'calendar year 2016' in subparagraph (A)(ii)" for "for 'calendar year 1992' in subparagraph (B)".
Subsec. (d)(1)(D). Pub. L. 115–97, §11024(b), added subpar. (D).
"(2) the sum of the credits allowable under this subpart (other than this section and sections 23, 25A(i), 25D, 30, 30B, and 30D) and section 27 for the taxable year."
2010-Subsec. (g)(2). Pub. L. 111–148, §10909(b)(2)(D), (c), as amended by Pub. L. 111–312, temporarily struck out "23," before "25A(i),". See Effective and Termination Dates of 2010 Amendment note below.
2009-Subsec. (g)(2). Pub. L. 111–5, §1144(b)(1)(C), inserted "30B," after "30,".
Pub. L. 111–5, §1142(b)(1)(C), inserted "30," after "25D,".
Pub. L. 111–5, §1004(b)(4), inserted "25A(i)," after "23,".
2008-Subsec. (g)(2). Pub. L. 110–343, §205(d)(1)(C), substituted ", 25D, and 30D" for "and 25D".
Pub. L. 110–343, §106(e)(2)(C), substituted "sections 23 and 25D" for "section 23".
2006-Subsec. (b). Pub. L. 109–280, §833(a), reenacted heading without change and amended text of subsec. (b) generally, substituting provisions consisting of introductory provisions and pars. (1) to (3) for former provisions consisting of introductory provisions and a table of applicable percentages for amounts of adjusted gross income for a joint return, a head of household, and all other cases.
Subsec. (h). Pub. L. 109–280, §812, struck out heading and text of subsec. (h). Text read as follows: "This section shall not apply to taxable years beginning after December 31, 2006."
2005-Subsec. (g). Pub. L. 109–135 substituted "In the case of a taxable year to which section 26(a)(2) does not apply, the credit" for "The credit" in introductory provisions.
2004-Subsec. (c)(2)(B). Pub. L. 108–311 substituted "152(f)(2)" for "151(c)(4)".
"(ii) any distribution from a Roth IRA or a Roth account received by the individual during the testing period which is not a qualified rollover contribution (as defined in section 408A(e)) to a Roth IRA or a rollover under section 402(c)(8)(B) to a Roth account."
Subsecs. (g), (h). Pub. L. 107–147, §417(1), redesignated subsec. (g), relating to termination, as (h).
2001-Subsec. (g). Pub. L. 107–16, §618(b)(1), added subsec. (g) relating to limitation based on amount of tax.
Amendment by section 11002(d)(1)(C) of Pub. L. 115–97 applicable to taxable years beginning after Dec. 31, 2017, see section 11002(e) of Pub. L. 115–97, set out as a note under section 1 of this title.
Pub. L. 115–97, title I, §11024(c), Dec. 22, 2017, 131 Stat. 2076 , provided that: "The amendments made by this section [amending this section and section 529A of this title] shall apply to taxable years beginning after the date of the enactment of this Act [Dec. 22, 2017]."
Amendment by section 1004(b)(4) of Pub. L. 111–5 applicable to taxable years beginning after Dec. 31, 2008, see section 1004(d) of Pub. L. 111–5, set out as an Effective and Termination Dates of 2009 Amendment note under section 24 of this title.
Amendment by section 1142(b)(1)(C) of Pub. L. 111–5 applicable to vehicles acquired after Feb. 17, 2009, see section 1142(c) of Pub. L. 111–5, set out as an Effective and Termination Dates of 2009 Amendment note under section 24 of this title.
Amendment by section 1144(b)(1)(C) of Pub. L. 111–5 applicable to taxable years beginning after Dec. 31, 2008, see section 1144(c) of Pub. L. 111–5, set out as an Effective and Termination Dates of 2009 Amendment note under section 24 of this title.
Amendment by section 106(e)(2)(C) of Pub. L. 110–343 applicable to taxable years beginning after Dec. 31, 2007, see section 106(f)(1) of Pub. L. 110–343, set out as an Effective and Termination Dates of 2008 Amendment note under section 23 of this title.
Amendment by section 205(d)(1)(C) of Pub. L. 110–343 applicable to taxable years beginning after Dec. 31, 2008, see section 205(e) of Pub. L. 110–343, set out as an Effective and Termination Dates of 2008 Amendment note under section 24 of this title.
Pub. L. 109–280, title VIII, §833(d), Aug. 17, 2006, 120 Stat. 1004 , provided that: "The amendments made by this section [amending this section and sections 219 and 408A of this title] shall apply to taxable years beginning after 2006."
Amendment by Pub. L. 109–135 subject to title IX of the Economic Growth and Tax Relief Reconciliation Act of 2001, Pub. L. 107–16, §901, in the same manner as the provisions of such Act to which such amendment relates, see section 402(i)(3)(H) of Pub. L. 109–135, set out as a note under section 23 of this title. Title IX of Pub. L. 107–16 was repealed by Pub. L. 112–240, title I, §101(a)(1), Jan. 2, 2013, 126 Stat. 2315 .
Amendment by Pub. L. 109–135 effective as if included in the provisions of the Energy Policy Act of 2005, Pub. L. 109–58, to which it relates and applicable to taxable years beginning after Dec. 31, 2005, see section 402(m) of Pub. L. 109–135, set out as a note under section 23 of this title.
Pub. L. 107–147, title IV, §411(x), Mar. 9, 2002, 116 Stat. 53 , provided that: "Except as provided in subsection (c) [amending sections 23 and 137 of this title and enacting provisions set out as a note under section 23 of this title], the amendments made by this section [amending this section, sections 23, 24, 38, 45E, 45F, 63, 137, 401 to 404, 408, 409, 412, 414 to 417, 457, 530, 2016, 2101, 2511, 4980F, and 6428 of this title, sections 1003, 1054, 1055, 1082, and 1104 of Title 29, Labor, and provisions set out as notes under sections 38, 415, and 4980F of this title] shall take effect as if included in the provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001 [Pub. L. 107–16] to which they relate."
Amendment by section 618(b)(1) of Pub. L. 107–16 inapplicable to taxable years beginning during 2004 or 2005, see section 312(b)(2) of Pub. L. 108–311, set out as an Effective Date of 2001 Amendment note under section 23 of this title.
Amendment by section 618(b)(1) of Pub. L. 107–16 inapplicable to taxable years beginning during 2002 and 2003, see section 601(b)(2) of Pub. L. 107–147, set out as an Effective Date of 2001 Amendment note under section 23 of this title.
Amendment by section 618(b)(1) of Pub. L. 107–16 applicable to taxable years beginning after Dec. 31, 2001, see section 618(d) of Pub. L. 107–16, set out as an Effective Date of 2001 Amendment note under section 24 of this title.

References: §11002
 §11024
 §10909
 §1144
 §1142
 §1004
 §205
 §106
 §833
 §812
 §417
 §618
 §11024
 §833
 §901
 §101
 §411