38 of the Internal Revenue Code of 1986 is amended by adding at the end the following new item: Subchapter E—Carbon Content fee . (c) Effective date The amendments made by this section shall apply to fuel produced after December 31, 2018. 3. Credit (a) In general Subpart C of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 (relating to refundable credits) is amended by inserting after section 36B the following new section: 36C. Credit for taxpayers (a) Allowance of credit There shall be allowed as a credit against the tax imposed by this chapter for the taxable year with respect to each taxpayer who is an individual and each dependent of the taxpayer an amount equal to $1,000. (b) Limitation based on adjusted gross income The amount of the credit allowable under subsection (a) shall be reduced (but not below zero) by $100 for each $1,000 (or fraction thereof) by which the taxpayer’s adjusted gross income exceeds $314,000 ($157,000 in the case of a return other than a joint return). (c) Inflation adjustment In the case of a taxable year beginning after 2018, the dollar amounts in subsection (a) and (b) shall be increased by an amount equal to— (1) such dollar amount, multiplied by (2) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, determined by substituting 2017 for 2016 in subparagraph (A)(ii) thereof. If any increase under this clause is not a multiple of $50, such increase shall be rounded to the next lowest multiple of $50. (d) Nonresident alien ineligible for credit No credit shall be allowed under this section to any nonresident alien. . (b) Conforming amendments (1) Section 6211(b)(4)(A) of such Code is amended by inserting 36C, after 36B, . (2) Paragraph (2) of section 1324(b) of title 31, United States Code, is amended by inserting 36C, after 36B, . (3) The table of sections for subpart C of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after the item