pay a covered penalty shall pay an additional amount equal to 4.75 percent of the amount of such penalty. (b) Covered penalty For purposes of this section, the term covered penalty means any addition to tax, additional amount, penalty, or other liability provided under subchapter A or B. (c) Exception for certain individuals (1) In general In the case of a taxpayer who is an individual, subsection (a) shall not apply to any covered penalty if such taxpayer is an exempt taxpayer for the taxable year for which such covered penalty is assessed. (2) Exempt taxpayer For purposes of this subsection, a taxpayer is an exempt taxpayer for any taxable year if the taxable income of such taxpayer for such taxable year does not exceed the dollar amount at which begins the highest rate bracket in effect under section 1 with respect to such taxpayer for such taxable year. (d) Application of certain rules Except as provided in subsection (e), the additional amount determined under subsection (a) shall be treated for purposes of this title in the same manner as the covered penalty to which such additional amount relates. (e) Transfer to State Election Administration and Innovation Trust Fund The Secretary shall deposit any additional amount under subsection (a) in the General Fund of the Treasury and shall transfer from such General Fund to the State Election Assistance and Innovation Trust Fund under section 8011 of the Freedom to Vote Act an amount equal to the amounts so deposited (and, notwithstanding subsection (d), such additional amount shall not be the basis for any deposit, transfer, credit, appropriation, or any other payment, to any other trust fund or account). Rules similar to the rules of section 9601 shall apply for purposes of this subsection. . (2) Clerical amendment The table of subchapters for chapter 68 of such Code is amended by adding at the end the following new item: Subchapter D—Special assessments for State Election Assistance and Innovation Trust Fund . (d) Effective dates (1) In general Except as