Sec. 101 Refundable credit for grassroots contributions to Federal congressional candidates
“36C. Credit for grassroots contributions to Federal congressional candidates
“(a) In general—In the case of an individual, there shall be allowed as a credit against the tax imposed by this subtitle an amount equal to the qualified grassroots Federal congressional campaign contributions paid or incurred by the taxpayer during the taxable year.
“(b) Limitations
“(1) Dollar limitation—The credit allowed under subsection (a) to any taxpayer with respect to any taxable year shall not exceed $25 (twice such amount in the case of a joint return).
“(2) Limitation on contributions to Federal congressional candidates—No credit shall be allowed under this section to any taxpayer for any taxable year if such taxpayer made aggregate contributions in excess of $200 (twice such amount in the case of a joint return) during the taxable year to—
“(A) any single Federal congressional candidate, or
“(B) any political committee established and maintained by a national political party.
“(3) Ineligibility of individuals using Grassroots Democracy Coupons—No credit shall be allowed under this section with respect to any individual for any taxable year during which such individual submitted a Grassroots Democracy Coupon under subtitle B of title I of the Grassroots Democracy Act of 2013 to a candidate for election for Federal office. In the case of a joint return with respect to which this paragraph applies to one of the spouses, such return shall not be treated as a joint return for purposes of determining the dollar limitation under paragraph (1).
“(c) Qualified grassroots Federal congressional campaign contributions—For purposes of this section, the term qualified grassroots Federal congressional campaign contribution means any contribution of cash by an individual to a Federal congressional candidate or to a political committee established and maintained by a national political party if such contribution is not prohibited under the Federal Election Campaign Act of 1971.
“(d) Federal congressional candidate—For purposes of this section—
“(1) In general—The term Federal congressional candidate means any candidate for election to the office of Senator or Representative in, or Delegate or Resident Commissioner to, the Congress.
“(2) Treatment of authorized committees—Any contribution made to an authorized committee of a Federal congressional candidate shall be treated as made to such candidate.
“(e) Inflation adjustment
“(1) In general—In the case of a taxable year beginning after 2014, the $25 amount under subsection (b)(1) shall be increased by an amount equal to—
“(A) such dollar amount, multiplied by
“(B) 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 2013” for “calendar year 1992” in subparagraph (B) thereof.
“(2) Rounding—If any amount as adjusted under subparagraph (A) is not a multiple of $5, such amount shall be rounded to the nearest multiple of $5.”