if such taxpayer elects to have this section not apply for such taxable year. (5) Coordination with other deductions or credits The amount of any deduction or credit otherwise allowable under this chapter for any amount taken into account for purposes of subsection (a) shall be reduced by the credit allowed by this section. (e) Regulations The Secretary shall issue such regulations or other guidance as may be necessary or appropriate to carry out this section. . (b) Credit made part of general business credit Subsection (b) of section 38 of such Code, as amended by this Act, is amended by striking plus at the end of paragraph (36), by striking the period at the end of paragraph (37) and inserting , plus , and by adding at the end the following new paragraph: (38) the excellence in economic education credit determined under section 45T(a). . (c) Clerical amendment The table of sections for subpart D of part IV of subchapter A of chapter 1 of such Code is amended by adding at the end the following new item: Sec. 45T. Excellence in economic education. . (d) Report (1) In general The Secretary of the Treasury (or the Secretary’s delegate) shall submit a report on— (A) whether the credit for excellence in economic education (as enacted by subsection (a) of this section) has resulted in increased investment in financial literacy programs