Page:United States Statutes at Large Volume 111 Part 1.djvu/827

 PUBLIC LAW 105-34—AUG. 5, 1997 111 STAT. 803 the first 3 months following such tsixable year, such academic period shall be treated for purposes of this section as beginning during such taxable year. "(5) DENIAL OF DOUBLE BENEFIT.—No credit shall be allowed under this section for any expense for which a deduction is allowed under any other provision of this chapter. "(6) No CREDIT FOR MARRIED INDIVIDUALS FILING SEPARATE RETURNS. —I f the taxpayer is a married individual (within the meaning of section 7703), this section shall apply only if the taxpayer and the taxpayer's spouse file a joint return for the taxable year. "(7) NONRESIDENT ALIENS. —If the taxpayer is a nonresident alien individual for any portion of the taxable year, this section shall apply only if such individual is treated as a resident alien of the United States for purposes of this chapter by reason of an election under subsection (g) or (h) of section 6013. " (h) INFLATION ADJUSTMENTS.— " (1) DOLLAR LIMITATION ON AMOUNT OF CREDIT.— "(A) IN GENERAL.—In the case of a taxable year beginning after 2001, each of the $1,000 amounts under subsection (b)(1) shall be increased by an amount equal to— "(i) such dollar amount, multiplied by "(ii) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year iDegins, determined by substituting 'calendar year 2000' for 'calendar year 1992' in subparagraph (B) thereof. "(B) ROUNDING. —If any amount as adjusted under subparagraph (A) is not a multiple of $100, such amount shall be rounded to the next lowest multiple of $100. " (2) INCOME LIMITS.— "(A) IN GENERAL.—In the case of a tsixable year beginning after 2001, the $40,000 and $80,000 amounts in subsection (d)(2) shall each be increased by an amount equal to— "(i) such dollar amount, multiplied by "(ii) 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 2000' for 'calendar year 1992' in subparagraph (B) thereof. "(B) ROUNDING.—I f any amount as adjusted under subparagraph (A) is not a multiple of $1,000, such amount shall be rounded to the next lowest multiple of $1,000. "(i) REGULATIONS.—The Secretary may prescribe such regulations as may be necessary or appropriate to carry out this section, including regulations providing for a recapture of the credit allowed under this section in cases where there is a refund in a subsequent taxable year of any amount which was taken into account in determining the amount of such credit.". (b) EXTENSION OF PROCEDURES APPLICABLE TO MATHEMATICAL OR CLERICAL ERRORS. —Paragraph (2) of section 6213(g) (relating to the definition of mathematical or clerical errors), as amended by section 101, is amended by striking "and" at the end of subparagraph (H), by striking the period at the end of subparagraph (I)

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