which is described in section 501(c) of the Internal Revenue Code of 1986 and exempt from tax under section 501(a) of such Code— (i) any reference in this section to a trade or business shall be treated as a reference to the operations of such organization which are related to the provision of child care assistance (within the meaning of subparagraph (A)(i)), and (ii) any reference in this section to gross receipts shall be treated as a reference to gross receipts within the meaning of section 6033 of the Internal Revenue Code of 1986. (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 90 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) 40 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 (B)) for such calendar quarter, by (II) the gross receipts for the same calendar quarter in calendar