preceding year, and the rent paid during such preceding year by the individual (and, if married, the individual’s spouse) for the principal residence of the individual. Any terms used in this subsection which are also used in section 36A shall have the same meaning as when used in such section. (d) Election of Advance Payment A taxpayer may elect to receive an advance payment of the credit allowed under section 36A for any taxable year by including such election on a timely filed return for the preceding taxable year. (e) Internal Revenue Service Notification The Internal Revenue Service shall take such steps as may be appropriate to ensure that taxpayers who are eligible to receive the credit under section 36A are aware of the availability of the advance payment of such credit under this section. (f) Authority The Secretary may prescribe such regulations or other guidance as may be appropriate or necessary for the purposes of carrying out this section. . (c) Clerical amendments (1) 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 relating to section 36 the following new item: Sec. 36A. Rent costs of eligible individuals. . (2) The table of sections for chapter 77 of such Code is amended by inserting after the item relating to section 7527 the following new item: Sec. 7527A. Advance payment of rental costs tax credit. . (d) Conforming amendment Section 6211(b)(4)(A) of the Internal Revenue Code of 1986 is amended by inserting , 36A after 36 . (e) Effective date The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act. (f) Report Not later than 2 years after the date of the enactment of this Act, the Secretary of the Treasury shall submit to Congress a report on the credit allowed under section 36A of the Internal Revenue Code of 1986 (as added by subsection (a)) and the advance payment of such credit under section 7527A of such Code (as added by