S.Amdt. 2650
What it does: Adds TITLE __--IMPROVEMENT OF CREDIT FOR HEALTH INSURANCE COSTS OF ELIGIBLE INDIVIDUALS wherever appropriate
Sen. Evan Bayh (D-IN)What it changes
1 change to S. 1637
Adds TITLE __--IMPROVEMENT OF CREDIT FOR HEALTH INSURANCE COSTS OF ELIGIBLE INDIVIDUALS wherever appropriate
Adds a titleInserted: TITLE __--IMPROVEMENT OF CREDIT FOR HEALTH INSURANCE COSTS OF ELIGIBLE INDIVIDUALS
Inserted: SEC. __01. IMPROVEMENT OF THE AFFORDABILITY OF THE CREDIT.
Inserted: (a) In General.--Section 35(a) of the Internal Revenue Code of 1986 (relating to credit for health insurance costs of eligible individuals) is amended by striking "65" and inserting "75".
Inserted: (b) Conforming Amendment.--Section 7527(b) of such Code (relating to advance payment of credit for health insurance costs of eligible individuals) is amended by striking "65" and inserting "75".
Inserted: (c) Effective Date.--The amendments made by this section apply to taxable years beginning after December 31, 2004.
Inserted: SEC. __02. ELIGIBILITY OF SPOUSE OF CERTAIN INDIVIDUALS ENTITLED TO MEDICARE.
Inserted: (a) In General.--Subsection (b) of section 35 of the Internal Revenue Code of 1986 (defining eligible coverage month) is amended by adding at the end the following:
Inserted: "(3) Special rule for spouse of individual entitled to medicare.--Any month which would be an eligible coverage month with respect to a taxpayer (determined without regard to subsection (f)(2)(A)) shall be an eligible coverage month for any spouse of such taxpayer.".
Inserted: (b) Conforming Amendment.--Section 173(f)(5)(A)(i) of the Workforce Investment Act of 1998 (29 U.S.C. 2918(f)(5)(A)(i)) is amended by inserting "(including with respect to any month for which the eligible individual would have been treated as such but for the application of paragraph (7)(B)(i))" before the comma.
Inserted: (c) Effective Date.--The amendments made by this section take effect on the date of enactment of this Act.
Inserted: SEC. __03. CLARIFICATION OF 3-MONTH REQUIREMENT OF EXISTING COVERAGE.
Inserted: (a) In General.--Clause (i) of section 35(e)(2)(B) of the Internal Revenue Code of 1986 (defining qualifying individual) is amended by inserting "(prior to the employment separation necessary to attain the status of an eligible individual)" after "9801(c)".
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Inserted: (b) Conforming Amendment.--Section 173(f)(2)(B)(ii)(I) of the Workforce Investment Act of 1998 (29 U.S.C. 2918(f)(2)(B)(ii)(I)) is amended by inserting "(prior to the employment separation necessary to attain the status of an eligible individual)" after "1986".
Inserted: (c) Effective Date.--The amendments made by this section take effect on the date of enactment of this Act.
Inserted: SEC. __04. DECREASE IN PGBC PENSION RECIPIENT AGE ELIGIBILITY REQUIREMENT.
Inserted: (a) In General.--Subparagraph (A) of section 35(c)(4) of the Internal Revenue Code of 1986 (defining eligible PBGC pension recipient) is amended by striking "age 55" and inserting "age 50".
Inserted: (b) Effective Date.--The amendments made by this section apply to taxable years beginning after December 31, 2004.
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Original wording
At the appropriate place, insert the following:
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As printed
SA 2650. Mr. BAYH submitted an amendment intended to be proposed by him to the bill S. 1637, to amend the Internal Revenue Code of 1986 to comply with the World Trade Organization rulings on the FSC/ETI benefit in a manner that preserves jobs and production activities in the United States, to reform and simplify the international taxation rules of the United States, and for other purposes; which was ordered to lie on the table; as follows:
At the appropriate place, insert the following:
TITLE __--IMPROVEMENT OF CREDIT FOR HEALTH INSURANCE COSTS OF ELIGIBLE INDIVIDUALS
SEC. __01. IMPROVEMENT OF THE AFFORDABILITY OF THE CREDIT.
(a) In General.--Section 35(a) of the Internal Revenue Code of 1986 (relating to credit for health insurance costs of eligible individuals) is amended by striking “65” and inserting “75”.
(b) Conforming Amendment.--Section 7527(b) of such Code (relating to advance payment of credit for health insurance costs of eligible individuals) is amended by striking “65” and inserting “75”.
(c) Effective Date.--The amendments made by this section apply to taxable years beginning after December 31, 2004.
SEC. __02. ELIGIBILITY OF SPOUSE OF CERTAIN INDIVIDUALS ENTITLED TO MEDICARE.
(a) In General.--Subsection (b) of section 35 of the Internal Revenue Code of 1986 (defining eligible coverage month) is amended by adding at the end the following:
“(3) Special rule for spouse of individual entitled to medicare.--Any month which would be an eligible coverage month with respect to a taxpayer (determined without regard to subsection (f)(2)(A)) shall be an eligible coverage month for any spouse of such taxpayer.”.
(b) Conforming Amendment.--Section 173(f)(5)(A)(i) of the Workforce Investment Act of 1998 (29 U.S.C. 2918(f)(5)(A)(i)) is amended by inserting “(including with respect to any month for which the eligible individual would have been treated as such but for the application of paragraph (7)(B)(i))” before the comma.
(c) Effective Date.--The amendments made by this section take effect on the date of enactment of this Act.
SEC. __03. CLARIFICATION OF 3-MONTH REQUIREMENT OF EXISTING COVERAGE.
(a) In General.--Clause (i) of section 35(e)(2)(B) of the Internal Revenue Code of 1986 (defining qualifying individual) is amended by inserting “(prior to the employment separation necessary to attain the status of an eligible individual)” after “9801(c)”.
(b) Conforming Amendment.--Section 173(f)(2)(B)(ii)(I) of the Workforce Investment Act of 1998 (29 U.S.C. 2918(f)(2)(B)(ii)(I)) is amended by inserting “(prior to the employment separation necessary to attain the status of an eligible individual)” after “1986”.
(c) Effective Date.--The amendments made by this section take effect on the date of enactment of this Act.
SEC. __04. DECREASE IN PGBC PENSION RECIPIENT AGE ELIGIBILITY REQUIREMENT.
(a) In General.--Subparagraph (A) of section 35(c)(4) of the Internal Revenue Code of 1986 (defining eligible PBGC pension recipient) is amended by striking “age 55” and inserting “age 50”.
(b) Effective Date.--The amendments made by this section apply to taxable years beginning after December 31, 2004.
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Senate amendment submitted
March 3, 2004