The changes apply to calendar years beginning after December 31, 2025
What the document says“The amendments made by this section shall apply to calendar years beginning after December 31, 2025.”
The section applies its amendments to calendar years beginning after December 31, 2025.
What the document actually says“The amendments made by this section shall apply to calendar years beginning after December 31, 2025.”
That sentence, in plain words
The changes start with years that begin after December 31, 2025. Older years are left out.
What this is about
Earlier years are not touched. The old rules still hold for them. The date is fixed in the law.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.