Page:United States Statutes at Large Volume 123.djvu/330

 123STA T . 31 0PUBLIC LA W 111 –5—FE B.1 7, 200 9bythis s u btit lefor the t ax able year a n a m ount e q ual to the lesser of —‘ ‘ (1)6.2p er c ent of earne d income of the taxpayer , or ‘‘(2) $40 0($ 8 00inthecaseofa j oint return). ‘‘(b) LIM I TA TI ONB A SED ON M ODI F IED A D JU STED GR OSS I N C OME.— ‘‘(1) IN G ENERA L .— T he amount allo w able as a credit under subsection (a) (determined without re g ard to this paragraph and subsection (c)) for the taxable year shall be reduced (but not below z ero) by 2 percent of so much of the taxpayer ’ s modified adjusted gross income as exceeds $ 75 ,000 ($150,000 in the case of a joint return). ‘‘(2) MODIFIED ADJUSTED GROSS INCOME.— F or purposes of subparagraph (A), the term ‘modified adjusted gross income’ means the adjusted gross income of the taxpayer for the taxable year increased by any amount excluded from gross income under section 9 11, 9 3 1, or 933. ‘‘(c) R EDUCTION FOR C ERTAIN O T H ER P A Y MENTS.—The credit allowed under subsection (a) for any taxable year shall be reduced by the amount of any payments recei v ed by the taxpayer during such taxable year under section 2201, and any credit allowed to the taxpayer under section 2202, of the American Recovery and Reinvestment Tax Act of 2009. ‘‘(d) D EFINITIONS AND SP ECIAL RULES.—For purposes of this section— ‘‘(1) E LIGI B LE INDI V IDUAL.— ‘‘(A) IN GENERAL.—The term ‘eligible individual’ means any individual other than— ‘‘(i) any nonresident alien individual, ‘‘(ii) any individual with respect to whom a deduc - tion under section 151 is allowable to another taxpayer for a taxable year beginning in the calendar year in which the individual’s taxable year begins, and ‘‘(iii) an estate or trust. ‘‘(B) IDENTIFICATION NUMBER RE Q UIREMENT.—Such term shall not include any individual who does not include on the return of tax for the taxable year— ‘‘(i) such individual’s social security account number, and ‘‘(ii) in the case of a joint return, the social security account number of one of the taxpayers on such return. For purposes of the preceding sentence, the social security account number shall not include a TI N issued by the Internal Revenue Service. ‘‘(2) EARNED INCOME.—The term ‘earned income’ has the meaning given such term by section 32(c)(2), except that such term shall not include net earnings from self-employment which are not ta k en into account in computing taxable income. For purposes of the preceding sentence, any amount excluded from gross income by reason of section 112 shall be treated as earned income which is taken into account in computing taxable income for the taxable year. ‘‘(e) TERMINATION.—This section shall not apply to taxable years beginning after December 31, 2010.’’. (b) TREATMENT OF POSSESSIONS.— (1) PAYMENTS TO POSSESSIONS.— 26USC3 6 Anote.