To amend the Internal Revenue Code of 1986 to establish the individual tariff refund credit.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 7636 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 7636 To amend the Internal Revenue Code of 1986 to establish the individual tariff refund credit. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES February 20, 2026 Mr. Thompson of California introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to establish the individual tariff refund credit. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. INDIVIDUAL TARIFF REFUND CREDIT. (a) In General.--Subchapter B of chapter 65 of subtitle F of the Internal Revenue Code of 1986 is amended by adding at the end the following new section: ``SEC. 6436. INDIVIDUAL TARIFF REFUND CREDIT. ``(a) In General.--In the case of an eligible individual, there shall be allowed a credit against the tax imposed by subtitle A for the covered taxable year in an amount equal to the applicable tariff refund amount. ``(b) Treatment of Credit.--The credit allowed by subsection (a) shall be treated as allowed by subpart C of part IV of subchapter A of chapter 1. ``(c) Eligible Individual.--For purposes of this section, the term `eligible individual' means any individual who, on the date on which any covered court order is issued, is an individual other than-- ``(1) any nonresident alien individual, ``(2) any individual with respect to whom a deduction under section 151 is allowable to another taxpayer for a taxable year beginning in the calendar year in which the individual's taxable year begins, and ``(3) an estate or trust. ``(d) Covered Taxable Year.--For purposes of this section, the term `covered taxable year' means, with respect to an individual, the most recent ta