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. 203. Buildings designated to serve extremely low-income households (a) Reserved State allocation (1) In general Section 42(h) of the Internal Revenue Code of 1986 is amended— (A) by redesignating paragraphs (6), (7), and (8) as paragraphs (7), (8), and (9), respectively, and (B) by inserting after paragraph (5) the following new paragraph: (6) Portion of State ceiling set-aside for projects designated to serve extremely low-income households (A) In general Not more than 92 percent of the portion of the State housing credit ceiling amount described in paragraph (3)(C)(ii) for any State for any calendar year shall be allocated to buildings other than buildings described in subparagraph (B). (B) Buildings described A building is described in this subparagraph if 20 percent or more of the residential units in such building are rent-restricted (determined as if the imputed income limitation applicable to such units