US SB3432

Allows disaster-affected taxpayers to use their prior year's earned income instead of current year income when calculating eligibility for the Earned Income Tax Credit (EITC) and the refundable portion of the Child Tax Credit

Defines eligible taxpayers as those whose principal residence or workplace is in a federally declared major disaster zone during the incident period, or those displaced from their home due to such a disaster

Applies to disasters declared by the President under Section 401 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act

Amends Internal Revenue Code Sections 24(d) and 32(c) to add the prior-year income election option

Effective for taxable years beginning after December 31, 2024