inserting , and , and by inserting after subparagraph (E) the following new subparagraph: (F) section 224(g) (relating to parental leave savings accounts). . (f) Conforming amendment Section 26(b)(2) of such Code is amended by striking and at the end of subparagraph (X), by striking the period at the end of subparagraph (Y) and inserting , and , and by adding at the end the following new subparagraph: (Z) section 224(e)(4) (relating to additional tax with respect to distributions not used for early parenthood payment purposes). . (g) Clerical amendments (1) The table of sections for part VII of subchapter B of chapter 1 of such Code is amended by redesignating the item relating to section 224 as an item relating to section 225 and by inserting after the item relating to section 223 the following new item: Sec. 224. Parental leave savings accounts. . (2) The table of sections for part III of subchapter B of chapter 1 of such Code is amended by inserting after the item relating to section 139F the following new item: Sec. 139G. Contributions by employer to parental leave savings accounts. . (h) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2017.