under clause (i) increased by an amount equal to— (aa) such dollar amount, multiplied by (bb) the cost-of-living adjustment determined under section 1(f)(3) for such calendar year, determined by substituting calendar year 2022 for calendar year 2016 in subparagraph (A)(ii) thereof. If the amount determined after application of the preceding sentence is not a multiple of 5 cents, such amount shall be rounded to the next lowest multiple of 5 cents. (iii) Calendar years after 2024 In the case of any calendar year after 2024, the minimum amount is the dollar amount determined under clause (ii) increased by an amount equal to— (I) such dollar amount, multiplied by (II) the cost-of-living adjustment determined under section 1(f)(3) for such calendar year, determined by substituting calendar year 2023 for calendar year 2016 in subparagraph (A)(ii) thereof. Any amount increased under the preceding sentence which is not a multiple of $5,000 shall be rounded to the next lowest multiple of $5,000. . (c) Effective date The amendments made by this section shall apply to calendar years beginning after December 31, 2022. II Reforms relating to tenant eligibility 201. Average income test applicability to exempt facility bonds (a) In general Paragraph (1) of section 142(d) of the Internal Revenue Code of 1986 is amended— (1) by striking (A) or (B) and inserting (A), (B), or (C) , and (2) by inserting after subparagraph (B) the following new subparagraph: (C) Average income test A project meets the requirements of this subparagraph if it meets the minimum requirements of section 42(g)(1)(C). . (b) Effective date The amendments made by this section shall apply to elections made under section 142(d)(1) of the Internal Revenue Code of 1986 after March 23, 2018. 202. Codification of rules relating to increased tenant income (a) In general Clause (i) of section 42(g)(2)(D) of the Internal Revenue Code of 1986 is amended by striking clauses (ii), (iii), and (iv) and all that follows and inserting “clauses (ii), (iii), (iv), and (vi),