(a) In general.—Section 59A(b) is amended—
(1) by striking “10 percent” in paragraph (1) and inserting “10.5 percent”, and
(2) by striking paragraph (2) and by redesignating paragraphs (3) and (4) as paragraphs (2) and (3), respectively.
(b) Conforming amendments.—
(1) Section 59A(b)(1) is amended by striking “Except as provided in paragraphs (2) and (3)” and inserting “Except as provided in paragraph (2)”.
(2) Section 59A(b)(2), as redesignated by subsection (a)(2), is amended by striking “the percentage otherwise in effect under paragraphs (1)(A) and (2)(A) shall each be increased” and inserting “the percentages otherwise in effect under paragraph (1)(A) shall be increased”.
(3) Section 59A(e)(1)(C) is amended by striking “in the case of a taxpayer described in subsection (b)(3)(B)” and inserting “in the case of a taxpayer described in subsection (b)(2)(B)”.
(c) Other modifications.—
(1) Section 59A(b)(2)(B)(ii), as redesignated by subsection (a)(2), is amended by striking “registered securities dealer” and inserting “securities dealer registered”.
(2) Section 59A(h)(2)(B) is amended by striking “section 6038B(b)(2)” and inserting “section 6038A(b)(2)”.
(3) Section 59A(i)(2) is amended—
(A) by striking “subsection (g)” and inserting “subsection (h)”, and
(B) by striking “subsection (g)(3)” and inserting “subsection (h)(3)”.
(d) Effective date.—The amendments made by this section shall apply to taxable years beginning after December 31, 2025.