year 2019 was greater than 1,500, and (B) the gross receipts (within the meaning of section 448(c) of the Internal Revenue Code of 1986) of such eligible employer during calendar year 2019 was greater than $41,500,000. . (d) Phase-In of eligibility based on reduction in gross receipts (1) Decrease of reduction in gross receipts necessary to qualify for credit Section 2301(c)(2)(B)(i) of the CARES Act is amended by striking 50 percent and inserting 80 percent . (2) Phase-in of credit if reduction in gross receipts is less than 50 percent Section 2301(c)(2) of the CARES Act is amended by adding at the end the following new subparagraph: (D) Phase-in of credit where business not suspended and reduction in gross receipts less than 50 percent (i) In general In the case of any calendar quarter with respect to which an eligible employer would not be an eligible employer if subparagraph (B)(i) were applied by substituting 50 percent for 80 percent , the amount of the credit allowed under subsection (a) shall be reduced by the amount which bears the same ratio to the amount of such credit (determined without regard to this subparagraph) as— (I) the excess gross receipts percentage point amount, bears to (II) 30 percentage points. (ii) Excess gross receipts percentage point amount For purposes of this subparagraph, the term excess gross receipts percentage point amount means, with respect to any calendar quarter, the excess of— (I) the lowest of the gross receipts percentage point amounts determined with respect to any calendar quarter during the period ending with such calendar quarter and beginning with the first calendar quarter during the period described in subparagraph (B), over (II) 50 percentage points. (iii) Gross receipts percentage point amounts For purposes of this subparagraph, the term gross receipts percentage point amount means, with respect to any calendar quarter, the percentage (expressed as a number of percentage points) obtained by dividing— (I) the gross receipts (within the meaning of subparagraph