MODIFICATION OF DISQUALIFIED INVESTMENT INCOME TEST.

SEC. 9624. MODIFICATION OF DISQUALIFIED INVESTMENT INCOME TEST. (a) [26 U.S.C. 32] In General.—Section 32(i) of the Internal Revenue Code of 1986 is amended by striking “$2,200” and inserting “$10,000”. (b) Inflation Adjustment.—Section 32(j)(1) of such Code is amended— (1) in the matter preceding subparagraph (A), by inserting “(2021 in the case of the dollar amount in subsection (i)(1))” after “2015”, (2) in subparagraph (B)(i)— (A) by striking “subsections (b)(2)(A) and (i)(1)” and inserting “subsection (b)(2)(A)”, and (B) by striking “and” at the end, (3) by striking the period at the end of subparagraph (B)(ii) and inserting “, and”, and (4) by inserting after subparagraph (B)(ii) the following new clause: “(iii) in the case of the $10,000 amount in subsection (i)(1), ‘calendar year 2020’ for ‘calendar year 2016’.” . (c) [26 U.S.C. 32 note] Effective Date.—The amendments made by this section shall apply to taxable years beginning after December 31, 2020.