115 STAT. 106 PUBLIC LAW 107-16—JUNE 7, 2001 26 USC 6051. (1) W-2 INFORMATION.— Section 6051(a)(8) is amended by inserting ", including the amount of designated Roth contributions (as defined in section 402A)" before the comma at the end. (2) INFORMATION.— Section 6047 is amended by redesignating subsection (f) as subsection (g) and by inserting after subsection (e) the following new subsection: "(f) DESIGNATED ROTH CONTRIBUTIONS.—The Secretary shall require the plan administrator of each applicable retirement plan (as defined in section 402A) to make such returns and reports regarding designated Roth contributions (as defined in section 402A) to the Secretary, participants and beneficiaries of the plan, and such other persons as the Secretary may prescribe.". (e) CONFORMING AMENDMENTS.— (1) Section 408A(e) is amended by adding after the first sentence the following new sentence: "Such term includes a rollover contribution described in section 402A(c)(3)(A).". (2) The table of sections for subpart A of part I of subchapter D of chapter 1 is amended by inserting after the item relating to section 402 the following new item: "Sec. 402A. Optional treatment of elective deferrals as Roth contributions.". Applicability. (f) EFFECTIVE DATE. —The amendments made by this section 26 USC 402 note, shall apply to taxable years beginning after December 31, 2005. SEC. 618. NONREFUNDABLE CREDIT TO CERTAIN INDIVIDUALS FOR ELECTIVE DEFERRALS AND IRA CONTRIBUTIONS. (a) IN GENERAL. —Subpart A of part IV of subchapter A of chapter 1 (relating to nonrefundable personal credits) is amended by inserting after section 25A the following new section: " SEC. 25B. ELECTIVE DEFERRALS AND IRA CONTRIBUTIONS BY CER- TAIN INDIVIDUALS. "(a) ALLOWANCE OF CREDIT. —In the case of an eligible individual, there shall be allowed as a credit against the tax imposed by this subtitle for the taxable year an amount equal to the applicable percentage of so much of the qualified retirement savings contributions of the eligible individual for the taxable year as do not exceed $2,000. "(b) APPLICABLE PERCENTAGE.—For purposes of this section, the applicable percentage is the percentage determined in accordance with the following table: Joint return Over 30,000 32,500 50,000 Not over $30,000 32,500 50,000 Adjusted Gross Income Head of a Over 22,500 24,375 37,500 household Not over $22,500 24,375 37,500 All other cases Over 15,000 16,250 25,000 Not over $15,000 16,250 25,000 Applicable percentage 50 20 10 0 "(c) ELIGIBLE INDIVIDUAL.—For purposes of this section— "(1) IN GENERAL.— The term 'eligible individual' means any individual if such individual has attained the age of 18 as of the close of the taxable year.
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