The inflation adjusted figure is capped at $1,000,000
What the document says“In the case that application of the preceding sentence would result in a dollar amount (other than the amount specified in subparagraph (B)(i) (relating to certain agricultural homes)) exceeding $1,000,000, such amount shall be deemed to be equal to $1,000,000.”
The section adds a sentence to section 1917(f)(1)(C) of the Social Security Act capping at $1,000,000 any figure that the inflation adjustment would push above that, other than the figure for agricultural homes, and carves the non-farm election out of the adjustment.
What the document actually says“In the case that application of the preceding sentence would result in a dollar amount (other than the amount specified in subparagraph (B)(i) (relating to certain agricultural homes)) exceeding $1,000,000, such amount shall be deemed to be equal to $1,000,000.”
If the sum would go above $1 million, it is treated as $1 million. Farm homes are left out of that cap.
The sum grows with prices each year. This stops it passing the ceiling. The ceiling is fixed in the law.
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