The state credit ceiling increase is made permanent at a 1.12 multiplier
What the document says“by striking "2018, 2019, 2020, and 2021," and inserting "beginning after December 31, 2025,",”
The section amends section 42(h)(3)(I) of the Internal Revenue Code of 1986 by replacing the list of years 2018 through 2021 with calendar years beginning after December 31, 2025, by striking 1.125 and inserting 1.12, and by making the matching change in the heading.
What the document actually says“by striking "2018, 2019, 2020, and 2021," and inserting "beginning after December 31, 2025,",”
A short list of years is taken out. Words covering every year after December 31, 2025 are put in.
So the raise carries on with no end year. The multiplier moves from 1.125 to 1.12. The heading is reworded to match.
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