1. Short title
This Act may be cited as the “Child Tax Credit Restoration Act of 2014”.
Child Tax Credit Restoration Act of 2014
A BILL
To amend the Internal Revenue Code of 1986 to increase the child tax credit for 2 years.
2. Temporary modification of child tax credit
In general— Section 24 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection:
“(g) Special rules for 2014 and 2015—In the case of any taxable year beginning in 2014 or 2015—
“(1) Increased credit per child—Subsection (a) shall be applied by substituting “$2,000” for “$1,000”.
“(2) Increased refundability—Subsection (d)(1)(B)(i) shall be applied by substituting “30 percent” for “15 percent”.”
Effective date— The amendments made by this section shall apply to taxable years beginning after December 31, 2013.