diff --git a/CHANGELOG.md b/CHANGELOG.md
index 1da06ad..8ffeb9d 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,9 @@
 # Changes
 
+* 2.0.next in progress
+  * Fix #367 by supporting parameters in subexpressions around `IS NULL` / `IS NOT NULL` tests.
+  * Update `build-clj` to v0.5.0.
+
 * 2.0.813 -- 2021-09-25
   * Address #364 by recommending how to handle PostgreSQL operators that contain `@`.
   * Fix #363 and #362 by aligning more closely the semantics of `:inline` syntax with the `:inline true` option. A side effect of this is that `[:inline [:param :foo]]` will now (correctly) inline the value of the parameter `:foo` whereas it previously produced `PARAMS SOURCE`. In addition, inlining has been extended to vector values, so `[:inline ["a" "b" "c"]]` will now produce `('a', 'b', 'c')` and `[:inline [:lift ["a" "b" "c"]]]` will now produce `['a', 'b', 'c']` which is what people seemed to expect (the behavior was previously unspecified).
diff --git a/deps.edn b/deps.edn
index dd1348d..da6cd61 100644
--- a/deps.edn
+++ b/deps.edn
@@ -4,7 +4,7 @@
  :aliases
  {;; for help: clojure -A:deps -T:build help/doc
   :build {:deps {io.github.seancorfield/build-clj
-                 {:git/tag "v0.4.0" :git/sha "54e39ae"}}
+                 {:git/tag "v0.5.0" :git/sha "2ceb95a"}}
           :ns-default build}
 
   ;; versions to test against:
diff --git a/src/honey/sql.cljc b/src/honey/sql.cljc
index fa40bc5..83b4101 100644
--- a/src/honey/sql.cljc
+++ b/src/honey/sql.cljc
@@ -1249,20 +1249,17 @@
                           [s1 & p1]   (format-expr a {:nested true})
                           [s2 & p2]   (format-expr b {:nested true})
                           op          (get infix-aliases op op)]
-                        (if (and (#{:= :<>} op) (or (nil? a) (nil? b)))
-                          (-> (str (if (nil? a)
-                                     (if (nil? b) "NULL" s2)
-                                     s1)
-                                   (if (= := op) " IS NULL" " IS NOT NULL"))
-                              (cond-> nested
-                                (as-> s (str "(" s ")")))
-                              (vector))
-                          (-> (str s1 " " (sql-kw op) " " s2)
-                              (cond-> nested
-                                (as-> s (str "(" s ")")))
-                              (vector)
-                              (into p1)
-                              (into p2)))))
+                      (-> (if (and (#{:= :<>} op) (or (nil? a) (nil? b)))
+                            (str (if (nil? a)
+                                   (if (nil? b) "NULL" s2)
+                                   s1)
+                                 (if (= := op) " IS NULL" " IS NOT NULL"))
+                            (str s1 " " (sql-kw op) " " s2))
+                          (cond-> nested
+                            (as-> s (str "(" s ")")))
+                          (vector)
+                          (into p1)
+                          (into p2))))
                   (contains? #{:in :not-in} op)
                   (let [[sql & params] (format-in op (rest expr))]
                     (into [(if nested (str "(" sql ")") sql)] params))