12 2 STA T .6 16 PUBLIC LA W 11 0– 1 85—FE B.1 3, 2008 (2)MATHEM AT IC A LOR CLERICAL ERROR A U THORIT Y.—Sec-tion6 2 13 ( g )(2)( L )o fsu c hC o d eis am ended by st r i k ing ‘ ‘or 32 ’ ’ and inserting ‘‘32 , or6 4 2 8 ’’. (c) T REATME N TO FP O S SESSIONS.— (1) PAYMENTS TO P OSSESSIONS.— ( A ) MIRROR CO D E POSSESSION.—The Secretary of the Treasury sha l lmakea p ayment to each possession of the U nited States w ith a mirror code ta x system in an amount e q ual to the loss to that possession by reason of the amend- ments made by this section. Such amount shall be deter- mined by the Secretary of the Treasury based on informa- tion pro v ided by the government of the respective posses- sion. ( B ) O THER POSSESSIONS.—The Secretary of the Treasury shall make a payment to each possession of the United States which does not have a mirror code tax system in an amount estimated by the Secretary of the Treasury as being equal to the aggregate benefits that would have been provided to residents of such possession by reason of the amendments made by this section if a mirror code tax system had been in effect in such possession. The preceding sentence shall not apply with respect to any possession of the United States unless such possession has a plan, which has been approved by the Secretary of the Treasury, under which such possession will promptly distribute such payment to the residents of such possession. (2) COORDINATION W ITH CREDIT ALLOWED A G AINST UNITED STATES INCOME TA X ES.— N o credit shall be allowed against United States income taxes under section 6428 of the I nternal R evenue Code of 1 9 86 (as amended by this section) to any person— (A) to whom a credit is allowed against taxes imposed by the possession by reason of the amendments made by this section, or (B) who is eligible for a payment under a plan described in paragraph (1)(B). (3) D EFINITIONS AND SPECIAL RULES.— (A) POSSESSION OF THE UNITED STATES.— F or purposes of this subsection, the term ‘‘possession of the United States’’ includes the Commonwealth of Puerto Rico and the Commonwealth of the Northern Mariana Islands. (B) MIRROR CODE TAX SYSTEM.—For purposes of this subsection, the term ‘‘mirror code tax system’’ means, with respect to any possession of the United States, the income tax system of such possession if the income tax liability of the residents of such possession under such system is determined by reference to the income tax laws of the United States as if such possession were the United States. (C) TREATMENT OF PAYMENTS.—For purposes of section 1324(b)(2) of title 31, United States Code, the payments under this subsection shall be treated in the same manner as a refund due from the credit allowed under section 6428 of the Internal Revenue Code of 1986 (as amended by this section). (d) REFUNDS DISREGARDED IN THE ADMINISTRATION OF FEDERAL PROGRAMS AND FEDERALLY ASSISTED PROGRAMS.—Any credit or refund allowed or made to any individual by reason of section 26USC 6 4 2 8note. 26 USC 6428 note. 26 USC 62 13 .
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