specified matching amount
Defined in 1 place of the United States Code.
The term "specified matching amount" means, with respect to any calendar year, the lesser of—
(i) the excess (if any) of—
(I) the cost to Puerto Rico of the earned income tax credit for taxable years beginning in or with such calendar year, over
(II) the base amount for such calendar year, or
(ii) the product of 3, multiplied by the base amount for such calendar year.
Source
- 2021–present26 U.S.C. § 7530Internal Revenue Code · Application of earned income tax credit to possessions of the United States · in this section