; and (ii) the provisions of chapter 3 of title II of the Trade Act of 1974, as in effect on such date of enactment, had been in effect on that date during the period described in clause (i). F Health Coverage Tax Credit 1601. Permanent credit for health insurance costs (a) In general Section 35(b)(1)(B) of the Internal Revenue Code of 1986 is amended by striking , and before January 1, 2022 . (b) Increase in credit percentage Section 35(a) of such Code is amended by striking 72.5 percent and inserting 80 percent . (c) Application of advance payment (1) In general Section 7527(a) of such Code is amended by striking the date that is 1 year after the date of the enactment of the Trade Adjustment Assistance Reauthorization Act of 2015 and inserting as soon as practicable and not later than 90 days after the date of the enactment of the American Worker and Trade Competitiveness Act . (2) Increase in credit percentage Subsections (b) and (e)(1) of section 7527 of such Code are each amended by striking 72.5 percent and inserting 80 percent . (3) Retroactive payments Section 7527(e)(1)(A) of such Code is amended by striking the date that is 1 year after the date of the enactment of the Trade Adjustment Assistance Reauthorization Act of 2015 and inserting the date of the enactment of the American Worker and Trade Competitiveness Act . (d) Effective date (1) In general Except as otherwise provided in this subsection, the amendments made by this section shall apply to coverage months beginning after December 31, 2021. (2) Application of advance payment The amendments made by subsection (c) shall apply to coverage months beginning after the date of the enactment of this Act. (e) Transition rule Notwithstanding section 35(g)(11)(B)(i) of the Internal Revenue Code of 1986, an election to apply section 35 of such Code to an eligible coverage month (as defined in section 35(b) of such Code) beginning after December 31, 2021, and before the close of the taxable year which includes the date of the enactment of this Act— (1) may