Low-income taxpayer clinic funding unlocked

(a) Matching funds Paragraph (5) of section 7526(c) is amended to read as follows: (5) Requirement of matching funds (A) In general With respect to any grant provided to a low-income taxpayer clinic under this section, such clinic shall provide matching funds equal to the applicable percentage of the amount of such grant. (B) Matching funds (i) In general For purposes of this paragraph, the term matching funds may include— (I) the salary (including fringe benefits) of individuals performing services for the low-income taxpayer clinic, and (II) the cost of equipment used in the low-income taxpayer clinic. (ii) Exclusion For purposes of this paragraph, the term matching funds shall not include any indirect expenses, such as general overhead of the institution sponsoring the low-income taxpayer clinic. (C) Applicable percentage For purposes of subparagraph (A), the applicable percentage shall be 100 percent, except that the Secretary may establish a lower percentage (not below 25 percent) if the Secretary determines that such percentage would expand the coverage of the low-income taxpayer clinic to additional taxpayers.. (b) Technical amendments Section 7526(c), as amended by subsection (a), is further amended— (1) by striking paragraphs (1) and (2), and (2) by redesignating paragraphs (3) through (6) as paragraphs (1) through (4). (c) Effective date The amendments made by this section shall apply to calendar years beginning after the date of enactment of this Act.