Plain English summary not yet available
The full original text is available below. Check back soon as we process this bill.
I
118TH CONGRESS
1ST SESSION H. R. 3912
To amend the Internal Revenue Code of 1986 to make the health coverage
tax credit permanent.
IN THE HOUSE OF REPRESENTATIVES
JUNE 7, 2023
Mr. KILDEE (for himself, Mr. BLUMENAUER, Ms. SLOTKIN, Ms. SEWELL, Ms.
MOORE of Wisconsin, and Mr. EVANS) introduced the following bill;
which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to make
the health coverage tax credit permanent.
Be it enacted by the Senate and House of Representa-
1
tives of the United States of America in Congress assembled,
2
SECTION 1. SHORT TITLE.
3
This Act may be cited as the ‘‘Bob von Schwedler
4
Permanent Health Coverage Tax Credit Expansion Act’’.
5
SEC. 2. PERMANENT CREDIT FOR HEALTH INSURANCE
6
COSTS.
7
(a) IN GENERAL.—Section 35(b)(1) of the Internal
8
Revenue Code of 1986 is amended to read as follows:
9
VerDate Sep 11 2014
21:03 Jul 06, 2023
Jkt 039200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6201
E:\BILLS\H3912.IH
H3912
pbinns on DSKJLVW7X2PROD with $$_JOB
2
•HR 3912 IH
‘‘(1) IN GENERAL.—The term ‘eligible coverage
1
month’ means any month if, as of the first day of
2
such month, the taxpayer—
3
‘‘(A) is an eligible individual,
4
‘‘(B) is covered by qualified health insur-
5
ance, the premium for which is paid by the tax-
6
payer,
7
‘‘(C) does not have other specified cov-
8
erage, and
9
‘‘(D) is not imprisoned under Federal,
10
State, or local authority.’’.
11
(b) INCREASE
IN CREDIT PERCENTAGE.—Section
12
35(a) of such Code is amended by striking ‘‘72.5 percent’’
13
and inserting ‘‘80 percent’’.
14
(c) CONFORMING AMENDMENTS.—
15
(1) Section 35(e)(2)(B)(i) of such Code is
16
amended by striking ‘‘clauses (iii) and (iv) of sub-
17
section (b)(1)(A)’’ and inserting ‘‘subparagraphs (C)
18
and (D) of subsection (b)(1)’’.
19
(2) Subsections (b) and (e)(1) of section 7527
20
of such Code are each amended by striking ‘‘72.5
21
percent’’ and inserting ‘‘80 percent’’.
22
(d) EFFECTIVE DATE.—
23
VerDate Sep 11 2014
21:03 Jul 06, 2023
Jkt 039200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H3912.IH
H3912
pbinns on DSKJLVW7X2PROD with $$_JOB
3
•HR 3912 IH
(1) IN GENERAL.—The amendments made by
1
this section shall apply to coverage months begin-
2
ning after December 31, 2021.
3
(2) TRANSITION RULE.—Notwithstanding sec-
4
tion 35(g)(11)(B)(i) of such Code, an election to
5
apply section 35 of such Code to an eligible coverage
6
month (as defined in section 35(b) of such Code) be-
7
ginning after December 31, 2021, and before the be-
8
ginning of the first taxable year beginning after the
9
date of the enactment of this Act—
10
(A) may be made at any time on or after
11
such date of enactment and before the later
12
of—
13
(i) the expiration of the 3-year period
14
of limitation prescribed in section 6511(a)
15
of such Code with respect to the taxable
16
year for such coverage month, or
17
(ii) any date specified in guidance
18
issued by the Secretary, and
19
(B) may be made on an amended return.
20
Æ
VerDate Sep 11 2014
21:03 Jul 06, 2023
Jkt 039200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6301
E:\BILLS\H3912.IH
H3912
pbinns on DSKJLVW7X2PROD with $$_JOB