Volume cap

(a) In general For purposes of sections 25F(b)(2) and 45BB(e) of the Internal Revenue Code of 1986 (as added by this Act), the volume cap applicable under this section shall be $10,000,000,000 for calendar year 2026 and each subsequent year thereafter. Such amount shall be allocated by the Secretary as provided in subsection (b) to taxpayers with respect to qualified contributions made by such taxpayers, except that 10 percent of such amount shall be divided evenly among the States, and shall be available with respect to— (1) individuals residing in such States to claim the credit allowed under section 25F of the Internal Revenue Code of 1986, and (2) corporations created or organized in such State to claim the credit determined under section 45BB of such Code. (b) First-Come, first-Serve For purposes of applying the volume cap under this section, such volume cap for any calendar year shall be allocated by the Secretary on a first-come, first-serve basis, as determined based on the time (during such calendar year) at which the taxpayer made the qualified contribution with respect to which the allocation is made. The Secretary shall not make any allocation of volume cap for any calendar year after December 31 of such calendar year. (c) Real-Time information For purposes of this section, the Secretary shall develop a system to track the amount of qualified contributions made during the calendar year for which a credit may be claimed under section 25F or 45BB of the Internal Revenue Code of 1986, with such information to be updated in real time. (d) Annual increases (1) In general In the case of the calendar year after a high use calendar year, the dollar amount otherwise in effect under subsection (a) for such calendar year shall be equal to 105 percent of the dollar amount in effect for such high use calendar year. (2) High use calendar year For purposes of this subsection, the term high use calendar year means any calendar year for which 90 percent or more of the volume cap in effect for such calendar year under subsection (a) is allocated to taxpayers. (3) Prevention of decreases in annual volume cap The volume cap in effect under subsection (a) for any calendar year shall not be less than the volume cap in effect under such subsection for the preceding calendar year. (4) Publication of annual volume cap The Secretary shall make publicly available the dollar amount of the volume cap in effect under subsection (a) for each calendar year. (e) States For purposes of this section, the term State includes the District of Columbia.