To amend the Internal Revenue Code of 1986 to repeal the expansion of information reporting requirements to payments made to corporations, payments for property and other gross proceeds, and rental property expense payments, and for other purposes.

1. Adds TITLE VI--COMPREHENSIVE 1099 TAXPAYER PROTECTION at the end of the bill

   Adds a title

   In S. 493 · Reported to Senate

   "(mm) Competitive Selection Procedures for SBIR and STTR Programs.--All funds awarded, appropriated, or otherwise made available in accordance with subsection (f) or (n) must be awarded pursuant to competitive and merit-based selection procedures.".

   Inserted: TITLE VI--COMPREHENSIVE 1099 TAXPAYER PROTECTION

   Inserted: SEC. 601. REPEAL OF EXPANSION OF INFORMATION REPORTING REQUIREMENTS TO PAYMENTS MADE TO CORPORATIONS AND TO PAYMENTS FOR PROPERTY AND OTHER GROSS PROCEEDS.

   Inserted: (a) Application to Corporations.--Section 6041 of the Internal Revenue Code of 1986 is amended by striking subsections (i) and (j).

   Inserted: (b) Payments for Property and Other Gross Proceeds.--Subsection (a) of section 6041 of the Internal Revenue Code of 1986 is amended--

   Inserted: (1) by striking "amounts in consideration for property,", and

   Inserted: (2) by striking "gross proceeds," both places it appears.

   Inserted: (c) Effective Date.--The amendments made by this section shall apply to payments made after December 31, 2011.

   Inserted: SEC. 602. REPEAL OF EXPANSION OF INFORMATION REPORTING REQUIREMENTS FOR RENTAL PROPERTY EXPENSE PAYMENTS.

   Inserted: (a) In General.--Section 6041 of the Internal Revenue Code of 1986 is amended by striking subsection (h).

   Inserted: (b) Effective Date.--The amendment made by this section shall apply to payments made after December 31, 2010.

   Inserted: SEC. 603. INCREASE IN AMOUNT OF OVERPAYMENT OF HEALTH CARE CREDIT WHICH IS SUBJECT TO RECAPTURE.

   Inserted: (a) In General.--Clause (i) of section 36B(f)(2)(B) of the Internal Revenue Code of 1986 is amended to read as follows:

   Show 4 more inserted paragraphsShow less

   Inserted: "(i) In general.--In the case of a taxpayer whose household income is less than 400 percent of the poverty line for the size of the family involved for the taxable year, the amount of the increase under subparagraph (A) shall in no event exceed the applicable dollar amount determined in accordance with the following table (one-half of such amount in the case of a taxpayer whose tax is determined under section 1(c) for the taxable year):

   Inserted: ------------------------------------------------------------------------The applicable "If the household income (expressed as a percent of dollar amount poverty line) is: is:

   Inserted: Less than 200%.......................................... $600 At least 200% but less than 300%........................ $1,500 At least 300% but less than 400%........................ $2,500.".

   Inserted: (b) Effective Date.--The amendment made by this section shall apply to taxable years beginning after December 31, 2013.

   Original wording

   At the end, add the following:

Read automatically from the Congressional Record. Check the original before relying on it.

As printed