S.Amdt. 3116

SA 3116. Mr. WYDEN (for himself, Ms. Collins, and Mr. Bayh) submitted
an amendment intended to be proposed to amendment SA 2786 proposed by
Mr. Reid (for himself, Mr. Baucus, Mr.

[[Page S12916]]

Dodd, and Mr. Harkin) to the bill H.R. 3590, to amend the Internal
Revenue Code of 1986 to modify the first-time homebuyers credit in the
case of members of the Armed Forces and certain other Federal
employees, and for other purposes; which was ordered to lie on the
table; as follows:

On page 2028, strike lines 9 and 10 and insert the
following:
(3) Efficiency adjustment based on premium increases.--
(A) In general.--The portion of the fee determined under
paragraph (1) with respect to a covered entity for a calendar
year which is attributable to net premiums written shall be
multiplied by an amount equal to the sum of--
(i) 50 percent, plus
(ii) the applicable percentage.
(B) Applicable percentage.--The applicable percentage is a
percentage determined by the Secretary in the following
manner:
(i) The applicable percentage for the covered entity with
the lowest per-capita premium change shall be 0 percent.
(ii) The applicable percentage for the covered entity with
the highest per-capita premium change shall be 100 percent.
(iii) The applicable percentage for each other cover entity
shall be based on the degree to which the per-capita premium
change for such covered entity is greater than the covered
entity with the lowest per-capita premium change, except that
in determining such amount the Secretary shall ensure that
the aggregate fees for all covered entities under this
section for the calendar year (after application of this
subsection) is equal to $6,700,000,000.
(iv) Notwithstanding clause (iii), the Secretary may reduce
the applicable percentage for a covered entity (but not below
zero) with respect to any calendar year if the Secretary
determines that the amount of the per-capita premium increase
for such entity was primarily due to government restrictions
on rates, but only to the extent that the amount of the per-
capita premium increase was due to such government
restrictions, as determined by the Secretary. In the case of
any reduction under the preceding sentence, proper adjustment
shall be made to the applicable percentages for other covered
entities described in clause (iii) such that the aggregate
fees for all covered entities under this section for the
calendar year (after application of this subsection) is equal
to $6,700,000,000. In no case shall any adjustment cause the
applicable percentage for any covered entity to exceed 100
percent.
(C) Per-capita premium change.--For purposes of this
paragraph--
(i) In general.--The term ``per-capita premium change''
means, with respect to any calendar year, the excess of--

(I) the per-capita premium amount for the such calendar
year, over
(II) the per capita premium amount for the preceding
calendar year.

(ii) Per-capita premium amount.--The term ``per-capita
premium amount'' means, with respect to any calendar year,
the total amount of net premiums written with respect to
health insurance for any United States health risk for such
calendar year divided by the number of United States health
risks which are covered under such net written premiums.
(iii) Reporting.--

(I) In general.--Each covered entity shall include in the
report required under subsection (g) the number of United
States health risks which are covered under net written
premiums with respect to health insurance.
(II) Penalty.--The rules of subsection (g)(2) shall apply
to the information required to be reported under subclause
(I).

(4) Secretarial determination.--The Secretary shall
calculate the amount of each covered entity's fee for any
calendar year under this subsection.
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