PUBLIC LAW 103-66 —AUG. 10, 1993 107 STAT. 435
- (1) IN GENERAL.—In the case of any taxable year beginning
after 1994, each dollar amount contained in subsection (b)(2)(A) shall be increased by an amount equal to— "(A) such dollar amount, multiplied by "(B) the cost-of-living adjustment determined under section l(fK3), for the calendar year in which the taxable year begins, by substituting 'calendar year 1993' for 'calendar year 1992'.", and (2) by redesignating paragraph (3) as paragraph (2). (d) CONFORMING AMENDMENTS. — (1) Subparagraph (D) of section 32(c)(3) is amended— 26 USC 32. (A) by striking "clause (i) or (ii)" in clause (iii) and inserting "clause (i)", (B) by striking clause (ii), and (C) by redesignating clause (iii) as clause (ii). (2) Paragraph (3) of section 162(1) is amended to read as follows: "(3) COORDINATION WITH MEDICAL DEDUCTION. — Any amount paid by a taxpayer for insurance to which paragraph (1) applies shall not be taken into account in computing the amount allowable to the taxpayer as a deduction under section 213(a)." (3) Section 213 is amended by striking subsection (f). (4) Subsection (b) of section 3507 is amended by redesignating paragraphs (2) and (3) as paragraphs (3) and (4), respectively, and by inserting after paragraph (1) the following new paragraph: "(2) certifies that the employee has 1 or more qualifying children (within the meaning of section 32(c)(3)) for such taxable year,". (5) Subparagraph (B) of section 3507(c)(2) is amended by striking clauses (i) and (ii) and inserting the following: "(i) of not more than 60 percent of the credit percentage in effect under section 32(b)(l) for an eligible individual with 1 qualifying child and with earned income not in excess of the earned income amount in effect under section 32(b)(2) for such an eligible individual, which " (ii) phases out at 60 percent of the phaseout percentage in effect under section 32(b)(l) for such an eligible individual between the phaseout amount in effect under section 32(b)(2) for such an eligible individual and the amount of earned income at which the credit under section 32(a) phases out for such an eligible individual, or". (6) Section 3507 is amended by adding at the end thereof the following new subsection: "(f) INTERNAL REVENUE SERVICE NOTIFICATION. — The Internal Revenue Service shall take such steps as may be appropriate to ensure that taxpayers who have 1 or more qualifying children and who receive a refund of the credit under section 32 are aware of the availability of earned income advance amounts under this section." (e) EFFECTIVE DATE.—The amendments made by this section 26 USC 32 note. shall apply to taxable years beginning after December 31, 1993.
�
