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SECTION 1. SHORT TITLE.

This Act may be cited as the ''American Family Act of 2017''.

SEC. 2. ESTABLISHMENT OF FULLY REFUNDABLE CHILD TAX CREDIT.

(a) Elimination of Existing Child Tax Credit.--Subpart A of part IV
of subchapter A of chapter 1 of subtitle A of the Internal Revenue Code
of 1986 is amended by striking section 24.
(b) Establishment of Fully Refundable Child Tax Credit.--Subpart C
of part IV of subchapter A of chapter 1 of subtitle A of such Code is
amended by inserting after section 36B the following new section:

''SEC. 36C. CHILD TAX CREDIT.

''(a) Allowance of Credit.--There shall be allowed as a credit
against the tax imposed by this chapter for the taxable year an amount
equal to the sum of--
''(1) with respect to each qualifying child of the taxpayer
who has attained 6 years of age before the close of such
taxable year and for which the taxpayer is allowed a deduction
under section 151, an amount equal to $3,000, and
''(2) with respect to each qualifying child of the taxpayer
who has not attained 6 years of age before the close of such
taxable year and for which the taxpayer is allowed a deduction
under section 151, an amount equal to 120 percent of the dollar
amount in paragraph (1).
''(b) Limitation.--
''(1) In general.--The amount of the credit allowable under
subsection (a) shall be reduced (but not below zero) by the
applicable amount for each $1,000 (or fraction thereof) by
which the taxpayer's modified adjusted gross income exceeds the
threshold amount. For purposes of the preceding sentence, the
term 'modified adjusted gross income' means adjusted gross
income increased by any amount excluded from gross income under
section 911, 931, or 933.
''(2) Threshold amount.--
''(A) In general.--For purposes of paragraph (1),
the term 'threshold amount' means--
''(i) $110,000 in the case of a joint
return,
''(ii) $75,000 in the case of an individual
who is not married, and
''(iii) $55,000 in the case of a married
individual filing a separate return.
''(B) Marital status.--For purposes of this
paragraph, marital status shall be determined under
section 7703.
''(3) Applicable amount.--For purposes of paragraph (1),
the term 'applicable amount' means an amount equal to the
quotient of--
''(A) the amount of the credit allowable under
subsection (a), as determined without regard to this
subsection, divided by
''(B) an amount equal to the product of--
''(i) $20, multiplied by
''(ii) the total number of qualifying
children of the taxpayer.
''(c) Qualifying Child.--
''(1) In general.--In this section, the term 'qualifying
child' means a qualifying child of the taxpayer (as defined in
section 152(c)) who has not attained 19 years of age.
''(2) Exception for certain non-citizens.--The term
'qualifying child' shall not include 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'.
''(d) Inflation Adjustment.--
''(1) In general.--In the case of any taxable year
beginning after 2017, the $3,000 amount in subsection (a)(1)
shall 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 2016' for 'calendar year 1992' in
subparagraph (B) thereof.
''(2) Rounding.--If any increase determined under paragraph
(1) is not a multiple of $50, such increase shall be rounded to
the nearest multiple of $50.
''(e) Identification Requirements.--
''(1) Qualifying child identification requirement.--No
credit shall be allowed under this section to a taxpayer with
respect to any qualifying child unless the taxpayer includes
the name and taxpayer identification number of such qualifying
child on the return of tax for the taxable year and such
taxpayer identification number was issued on or before the due
date for filing such return.
''(2) Taxpayer identification requirement.--No credit shall
be allowed under this section if the identifying number of the
taxpayer was issued after the due date for filing the return
for the taxable year.
''(f) Taxable Year Must Be Full Taxable Year.--Except in the case
of a taxable year closed by reason of the death of the taxpayer, no
credit shall be allowable under this section in the case of a taxable
year covering a period of less than 12 months.
''(g) Restrictions on Taxpayers Who Improperly Claimed Credit in
Prior Year.--
''(1) Taxpayers making prior fraudulent or reckless
claims.--
''(A) In general.--No credit shall be allowed under
this section for any taxable year in the disallowance
period.
''(B) Disallowance period.--For purposes of
subparagraph (A), the disallowance period is--
''(i) the period of 10 taxable years after
the most recent taxable year for which there
was a final determination that the taxpayer's
claim of credit under this section was due to
fraud, and
''(ii) the period of 2 taxable years after
the most recent taxable year for which there
was a final determination that the taxpayer's
claim of credit under this section was due to
reckless or intentional disregard of rules and
regulations (but not due to fraud).
''(2) Taxpayers making improper prior claims.--In the case
of a taxpayer who is denied credit under this section for any
taxable year as a result of the deficiency procedures under
subchapter B of chapter 63, no credit shall be allowed under
this section for any subsequent taxable year unless the
taxpayer provides such information as the Secretary may require
to demonstrate eligibility for such credit.
''(h) Reconciliation of Credit and Advance Credit.--
''(1) In general.--The amount of the credit allowed under
this section for any taxable year shall be reduced (but not
below zero) by the aggregate amount of any advance payments of
such credit under section 7527A for such taxable year.
''(2) Excess advance payments.--If the aggregate amount of
advance payments under section 7527A for the taxable year
exceed the amount of the credit allowed under this section for
such taxable year (determined without regard to paragraph (1)),
the tax imposed by this chapter for such taxable year shall be
increased by the amount of such excess''.
(c) Advance Payment of Credit.--Chapter 77 of the Internal Revenue
Code of 1986 is amended by inserting after section 7527 the following
new section:

''SEC. 7527A. ADVANCE PAYMENT OF CHILD TAX CREDIT.

''(a) In General.--As soon as practicable and not later than 1 year
after the date of the enactment of this section, the Secretary shall
establish a program for making advance payments of the credit allowed
under section 36C on a monthly basis (determined without regard to
subsection (h)(1) of such section), or as frequently as the Secretary
determines to be administratively feasible, to taxpayers allowed such
credit.
''(b) Limitation.--
''(1) In general.--The Secretary may make payments under
subsection (a) only to the extent that the total amount of such
payments made to any taxpayer during the taxable year does not
exceed an amount equal to the excess, if any, of--
''(A) subject to paragraph (2), the amount
determined under subsection (a) of section 36C with
respect to such taxpayer (determined without regard to
subsection (h) of such section) for such taxable year,
over
''(B) the estimated tax imposed by subtitle A, as
reduced by the credits allowable under subparts A and C
(with the exception of section 36C) of such part IV,
with respect to such taxpayer for such taxable year, as
determined in such manner as the Secretary deems
appropriate.
''(2) Application of threshold amount limitation.--The
program described in subsection (a) shall make reasonable
efforts to apply the limitation of section 36C(b) with respect
to payments made under such program.''.
(d) Conforming Amendments.--
(1) The table of sections for subpart A of part IV of
subchapter A of chapter 1 of subtitle A of the Internal Revenue
Code of 1986 is amended by striking the item relating to
section 24.
(2) The table of sections for subpart C of part IV of
subchapter A of chapter 1 of subtitle A of such Code is amended
by inserting after the item relating to section 36B the
following:

''Sec. 36C. Child tax credit.''.
(3) The table of sections for chapter 77 of such Code is
amended by inserting after the item relating to section 7527
the following new item:

''Sec. 7527A. Advance payment of child tax credit.''.
(4) Subparagraph (B) of section 45R(f)(3) of such Code is
amended to read as follows:
''(B) Special rule.--Any amounts paid pursuant to
an agreement under section 3121(l) (relating to
agreements entered into by American employers with
respect to foreign affiliates) which are equivalent to
the taxes referred to in subparagraph (A) shall be
treated as taxes referred to in such subparagraph.''.
(5) Section 152(f)(6)(B)(ii) of such Code is amended by
striking ''section 24'' and inserting ''section 36C''.
(6) Paragraph (26) of section 501(c) of such Code is
amended in the flush matter at the end by striking ''section
24(c))'' and inserting ''section 36C(c)) who has not attained
17 years of age''.
(7) Section 6211(b)(4)(A) of such Code is amended--
(A) by striking ''24(d),'', and
(B) by inserting ''36C,'' after ''36B,''.
(8) Section 6213(g)(2) of such Code is amended--
(A) in subparagraph (I), by striking ''section
24(e)'' and inserting ''section 36C(e)'', and
(B) in subparagraph (L), by striking ''24, or 32''
and inserting ''32, or 36C''.
(9) Paragraph (2) of section 1324(b) of title 31, United
States Code, is amended by inserting ''36C,'' after ''36B,''.
(e) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2016.
American Family Act of 2017 This bill amends the Internal Revenue Code, with respect to the child tax credit, to: (1) make the credit fully refundable, (2) increase the amount of the credit and allow an additional credit for children who are under six years of age, (3) require the amount of the credit to be adjusted annually for inflation after 2017, and (4) require the Department of the Treasury to establish a program for making advance payments of the credit on a monthly basis.