taxable year, as determined in such manner as the Secretary deems appropriate. (2) Application of threshold amount limitation The program described in subsection (a) shall make reasonable efforts to apply the limitation of section 24(b) with respect to payments made under such program. (c) Application The advance payments described in this section shall only be made with respect to credits allowed under section 24 for taxable years beginning during 2020. . (2) Reconciliation of credit and advance credit Section 24(i) of such Code, as amended by subsection (a), is amended— (A) by striking in the case of any taxable year , and inserting the following: (1) In general In the case of any taxable year , and (B) by adding at the end the following new paragraph: (2) Reconciliation of credit and advance credit (A) In general The amount of the credit allowed under this section for any taxable year shall be reduced (but not below zero) by the aggregate amount of any advance payments of such credit under section 7527A for such taxable year. (B) Excess advance payments If the aggregate amount of advance payments under section 7527A for the taxable year exceeds the amount of the credit allowed under this section for such taxable year (determined without regard to subparagraph (A)), the tax imposed by this chapter for such taxable year shall be increased by the amount of such excess. . (3) Clerical amendment 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 child tax credit. . (c) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2019. 122. Application of child tax credit in possessions (a) In general Section 24 of the Internal Revenue Code of 1986, as amended by the preceding provisions of this Act, is amended by adding at the end the following new subsection: (j) Application of credit in possessions (1) Mirror code possessions (A) In general The