paragraphs (3), (4), and (6) as paragraphs (2), (3), and (4), respectively. (2) Section 223(b)(2) of such Code (as redesignated by paragraph (2)) is amended to read as follows: (2) Additional contributions for individuals 55 or older In the case of an individual who has attained age 55 before the close of the taxable year, the limitation under paragraph (1) shall be increased by $5,000. . (3) Section 223(b)(3) of such Code (as redesignated by subparagraph (A)) is amended by striking the last sentence. (4) Section 223 of such Code is amended by striking subsection (c). (5) Section 223(d)(1)(A) of such Code is amended by striking will be accepted and all that follows through the period at the end and inserting will be accepted unless it is in cash. . (6) Section 223(f) of such Code is amended by striking paragraphs (7) and (8). (7) Section 223(g)(1) of such Code is amended— (A) by striking Each dollar amount in subsections (b)(2) and (c)(2)(A) and inserting The dollar amount in subsection (b)(1)