years beginning in or with such calendar year which allows a refundable tax credit to individuals on the basis of the taxpayer’s earned income which is designed to substantially increase workforce participation. (3) Inflation adjustment In the case of any calendar year after 2020, the $12,000,000 amount in paragraph (1)(A)(ii) shall be increased by an amount equal to— (A) such dollar amount, multiplied by— (B) the cost-of-living adjustment determined under section 1(f)(3) for such calendar year, determined by substituting calendar year 2019 for calendar year 2016 in subparagraph (A)(ii) thereof. Any increase determined under this clause shall be rounded to the nearest multiple of $100,000. (4) Application of certain rules Rules similar to the rules of subparagraphs (A), (B), (C), and (D) of subsection (a)(4) shall apply for purposes of this subsection. (d) Treatment of payments For purposes of section 1324 of title 31, United States Code, the payments under this section shall be treated in the same manner as a refund due from a credit provision referred to in subsection (b)(2) of such section. . (b) Clerical amendment The table of sections for chapter 77 of such Code is amended by adding at the end the following new item: Sec. 7529. Application of earned income tax credit to possessions of the United States. . II Child Tax Credit 201. Child tax credit fully refundable for 2019 and 2020 (a) In general Section 24(h) is amended by adding at the end the following new paragraph: (8) Credit fully refundable for 2019 and 2020 In the case of an individual other than a nonresident alien, for any taxable year beginning in 2019 or 2020— (A) paragraph (5) of this subsection shall not apply, and (B) the increase determined under the first sentence of subsection (d)(1) shall be the amount determined under subparagraph (A) of such subsection (determined without regard to paragraph (4) of this subsection). . (b) Effective date The amendment made by this section shall apply to taxable years beginning after December 31, 2018.