means an obligation which is described in subparagraph (A) and which is part of an issue the issue date of which is before January 1, 2026. . (b) Effective date (1) In general The amendment made by this section shall apply to buildings placed in service in taxable years beginning after December 31, 2023. (2) Rehabilitation expenditures treated as separate new building In the case of any building with respect to which any expenditures are treated as a separate new building under section 42(e) of the Internal Revenue Code of 1986, for purposes of paragraph (1), both the existing building and the separate new building shall be treated as having been placed in service on the date such expenditures are treated as placed in service under section 42(e)(4) of such Code. VI Tax Administration and Eliminating Fraud 601. Increase in threshold for requiring information reporting with respect to certain payees (a) In general Sections 6041(a) is amended by striking $600 and inserting $1,000 . (b) Inflation adjustment Section 6041 is amended by adding at the end the following new subsection: (h) Inflation adjustment In the case of any calendar year after 2024, the dollar amount in subsection (a) shall be increased by an amount equal to— (1) such dollar amount, multiplied by (2) 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. If any increase under the preceding sentence is not a multiple of $100, such increase shall be rounded to the nearest multiple of $100. . (c) Application to reporting on remuneration for services and direct sales Section 6041A is amended— (1) in subsection (a)(2), by striking is $600 or more and inserting equals or exceeds the dollar amount in effect for such calendar year under section 6041(a) , and (2) in subsection (b)(1)(B), by striking is $5,000 or more and inserting equals or exceeds the dollar amount in effect for such calendar year under section 6041(a) . (d)