S.Amdt. 3146

SA 3146. Mr. BARRASSO submitted an amendment intended to be proposed
to amendment SA 2786 proposed by Mr. Reid (for himself, Mr. Baucus, Mr.
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 340, between lines 14 and 15, insert the following:
``(g) Penalties Credited to Individual Accounts and Used
for Premiums.--
``(1) In general.--The Secretary shall not later than
January 1, 2014, establish and implement a program under
which--
``(A) if a penalty has been imposed under this section with
respect to an applicable individual for months during any
calendar year, the Secretary--
``(i) establishes an account on behalf of the applicable
individual, and
``(ii) credits such account with an amount equal to the
amount of the penalty, and
``(B) if the applicable individual subsequently becomes
covered under minimum essential coverage for 1 or more
months, the Secretary pays to or on behalf of the applicable
individual an amount equal to the premiums paid by the
individual for such coverage (or, if lesser, the balance in
the account established under subparagraph (A)).
``(2) Amounts available only for 3 years.--
``(A) In general.--If an account is credited under
paragraph (1)(A) with an amount for any calendar year, such
amount shall be available for payment under paragraph (1)(B)
only for premiums for minimum essential coverage for months
occurring during the 3 calendar years immediately following
such calendar year.
``(B) Special rules.--For purposes of this subsection--
``(i) the Secretary need only establish 1 account for an
individual, and
``(ii) amounts shall be treated as paid out of an account
on a first-in, first-out basis.''.
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