To increase the amount allowed as a child tax credit and to repeal the sunset imposed on the modifications to the child tax credit made by the Economic Growth and Tax Relief Reconciliation Act of 2001, and for other purposes.

Amends the Internal Revenue Code to increase the child tax credit. Amends the Economic Growth and Tax Relief Reconciliation Act of 2001 to make the revisions to such credit made by the Act permanent.

[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2007 Introduced in House (IH)]







108th CONGRESS
  1st Session
                                H. R. 2007

To increase the amount allowed as a child tax credit and to repeal the 
sunset imposed on the modifications to the child tax credit made by the 
  Economic Growth and Tax Relief Reconciliation Act of 2001, and for 
                            other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 7, 2003

Mr. Davis of Alabama introduced the following bill; which was referred 
                   to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
To increase the amount allowed as a child tax credit and to repeal the 
sunset imposed on the modifications to the child tax credit made by the 
  Economic Growth and Tax Relief Reconciliation Act of 2001, and for 
                            other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. ACCELERATION OF CHILD TAX CREDIT.

    (a) In General.--Subsection (a) of section 24 of the Internal 
Revenue Code of 1986 (relating to child tax credit) is amended to read 
as follows:
    ``(a) Allowance of Credit.--There shall be allowed as a credit 
against the tax imposed by this chapter for the taxable year with 
respect to each qualifying child of the taxpayer an amount equal to 
$1,500.''.
    (b) Repeal of Sunset.--Title IX of the Economic Growth and Tax 
Relief Reconciliation Act of 2001 (relating to sunset of provisions of 
such Act) shall not apply to the amendments made by section 201 of such 
Act.
    (c) Effective Date.--The amendment made by subsection (a) shall 
apply to taxable years beginning after December 31, 2002.
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