Page:United States Statutes at Large Volume 124.djvu/271

 124 STAT. 245 PUBLIC LAW 111–148—MAR. 23, 2010 regard to paragraph (3)(C)) for the calendar year with or within which the taxable year ends. ‘‘(3) APPLICABLE DOLLAR AMOUNT.—For purposes of para- graph (1)— ‘‘(A) IN GENERAL.—Except as provided in subpara- graphs (B) and (C), the applicable dollar amount is $750. ‘‘(B) PHASE IN.—The applicable dollar amount is $95 for 2014 and $350 for 2015. ‘‘(C) SPECIAL RULE FOR INDIVIDUALS UNDER AGE 18.— If an applicable individual has not attained the age of 18 as of the beginning of a month, the applicable dollar amount with respect to such individual for the month shall be equal to one-half of the applicable dollar amount for the calendar year in which the month occurs. ‘‘(D) INDEXING OF AMOUNT.—In the case of any calendar year beginning after 2016, the applicable dollar amount shall be equal to $750, increased by an amount equal to— ‘‘(i) $750, multiplied by ‘‘(ii) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year, determined by substituting ‘calendar year 2015’ for ‘calendar year 1992’ in subparagraph (B) thereof. If the amount of any increase under clause (i) is not a multiple of $50, such increase shall be rounded to the next lowest multiple of $50. ‘‘(4) TERMS RELATING TO INCOME AND FAMILIES.—For pur- poses of this section— ‘‘(A) FAMILY SIZE.—The family size involved with respect to any taxpayer shall be equal to the number of individuals for whom the taxpayer is allowed a deduction under section 151 (relating to allowance of deduction for personal exemptions) for the taxable year. ‘‘(B) HOUSEHOLD INCOME.—The term ‘household income’ means, with respect to any taxpayer for any taxable year, an amount equal to the sum of— ‘‘(i) the modified gross income of the taxpayer, plus ‘‘(ii) the aggregate modified gross incomes of all other individuals who— ‘‘(I) were taken into account in determining the taxpayer’s family size under paragraph (1), and ‘‘(II) were required to file a return of tax imposed by section 1 for the taxable year. ‘‘(C) MODIFIED GROSS INCOME.—The term ‘modified gross income’ means gross income— ‘‘(i) decreased by the amount of any deduction allowable under paragraph (1), (3), (4), or (10) of section 62(a), ‘‘(ii) increased by the amount of interest received or accrued during the taxable year which is exempt from tax imposed by this chapter, and ‘‘(iii) determined without regard to sections 911, 931, and 933. ‘‘(D) POVERTY LINE.—