made by this section shall apply to taxable years beginning after the date of the enactment of this Act. 114. Elimination of disqualified investment income test (a) In general Section 32 of the Internal Revenue Code of 1986 is amended by striking subsection (i). (b) Conforming amendments (1) Section 32(j)(1) of such Code is amended by striking subsections (b)(2) and (i)(1) and inserting subsection (b)(2) . (2) Section 32(j)(1)(B)(i) of such Code is amended by striking subsections (b)(2)(A) and (i)(1) and inserting subsection (b)(2)(A) . (3) Section 32(j)(2) of such Code is amended— (A) by striking subparagraph (B), and (B) by striking Rounding.— and all that follows through If any dollar amount and inserting the following: Rounding.— If any dollar amount . (c) Effective date The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act. 115. Application of earned income tax credit in possessions of the United States (a) In general Chapter 77 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section: 7530. Application of earned income tax credit to possessions of the United States (a) Puerto Rico (1) In general With respect to calendar year 2021 and each calendar year thereafter, the Secretary shall, except as otherwise provided in this subsection, make payments to Puerto Rico equal to— (A) the specified matching amount for such calendar year, plus (B) in the case of calendar years 2021 through 2025, the lesser of— (i) the expenditures made by Puerto Rico during such calendar year for education efforts with respect to individual taxpayers and tax return preparers relating to the earned income tax credit, or (ii) $1,000,000. (2) Requirement to reform earned income tax credit The Secretary shall not make any payments under paragraph (1) with respect to any calendar year unless Puerto Rico has in effect an earned income tax credit for taxable years beginning in or with such calendar year which (relative to the earned income