and gifts made after December 31, 2017. 23. Increase in alternative minimum tax exemption made permanent (a) In general Section 55(d) of the Internal Revenue Code of 1986 is amended— (1) in paragraph (1)— (A) by striking $78,750 in subparagraph (A) and inserting $109,400 , and (B) by striking $50,600 in subparagraph (B) and inserting $70,300 , and (2) in paragraph (2)— (A) by striking $150,000 in subparagraph (A) and inserting $1,000,000 , and (B) by striking subparagraphs (B) and (C) and inserting the following: (B) 50 percent of the dollar amount applicable under subparagraph (A) in the case of a taxpayer described in subparagraph (B) or (C) of paragraph (1), and (C) 50 percent of $150,000 in the case of a taxpayer described in paragraph (1)(D). . (b) Inflation adjustment (1) In general Section 55(d)(3)(A)(ii) of the Internal Revenue Code of 1986 is amended to read as follows: (ii) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, by substituting for calendar year 2016 in subparagraph (A)(ii) thereof— (I) calendar year 2011 in the case of the dollar amounts described in clauses (i), (iv), and (v) of subparagraph (B), and (II) calendar year 2017 in the case of the dollar amounts described in clauses (ii) and (iii) of subparagraph (B). . (2) Conforming amendments Section 55(d)(3)(B) of such Code is amended— (A) by striking subparagraphs (A), (B), and (D) of paragraph (1), and in clause (ii) and inserting subparagraphs (A) and (B) of paragraph (1), , (B) by striking subparagraphs (A) and (B) of paragraph (2). in clause (iii) and inserting paragraph (2)(A), , and (C) by adding at the end the following: (iv) the dollar amount contained in paragraph (1)(D), and (v) the dollar amount contained in paragraph (2)(C). . (c) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2017. 24. Technical amendment Section 11000 of Public Law 115–97 is amended by redesignating subsection (a) as subsection