S.Amdt. 2570
What it does: Adds TITLE IV--PERMANENT TAX RELIEF at the end of the bill
Sen. Kay Bailey Hutchison (R-TX)What it changes
1 change to S. 3412 · shown in the bill's text
Adds TITLE IV--PERMANENT TAX RELIEF at the end of the bill
Adds a titleIn S. 3412 · Placed on Calendar Senate
(b) Senate PAYGO Scorecard.--The budgetary effects of this Act shall not be entered on any PAYGO scorecard maintained for purposes of section 201 of S. Con. Res. 21 (110th Congress).
Inserted: TITLE IV--PERMANENT TAX RELIEF
Inserted: SEC. 401. REPEAL OF CERTAIN LIMITATIONS ON HEALTH CARE BENEFITS.
Inserted: (a) Repeal of Distributions for Medicine Qualified Only if for Prescribed Drug or Insulin.--
Inserted: (1) Hsas.--Section 223(d)(2)(A) of the Internal Revenue Code of 1986 is amended by striking the last sentence thereof.
Inserted: (2) Archer msas.--Section 220(d)(2)(A) of such Code is amended by striking the last sentence thereof.
Inserted: (3) Health flexible spending arrangements and health reimbursement arrangements.--Section 106 of such Code is amended by striking subsection (f).
Inserted: (4) Effective date.--
Inserted: (A) Distributions from savings accounts.--The amendments made by paragraphs (1) and (2) shall apply to amounts paid with respect to taxable years beginning after December 31, 2011.
Inserted: (B) Reimbursements.--The amendment made by paragraph (3) shall apply to expenses incurred with respect to taxable years beginning after December 31, 2011.
Inserted: (b) Repeal of Limitation on Health Flexible Spending Arrangements Under Cafeteria Plans.--
Inserted: (1) In general.--Section 125 of the Internal Revenue Code of 1986 is amended by striking subsection (i) and by redesignating subsections (j) through (l) as subsections (i) through (k), respectively.
Inserted: (2) Effective date.--The amendments made by this subsection shall apply to taxable years beginning after December 31, 2012.
Original wording
At the end, add the following:
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As printed
SA 2570. Mrs. HUTCHISON (for herself, Mr. Boozman, Mr. Burr, Mr. Coburn, and Mr. Portman) submitted an amendment intended to be proposed by her to the bill S. 3412, to amend the Internal Revenue Code of 1986 to provide tax relief to middle-class families; which was ordered to lie on the table; as follows:
At the end, add the following:
TITLE IV--PERMANENT TAX RELIEF
SEC. 401. REPEAL OF CERTAIN LIMITATIONS ON HEALTH CARE BENEFITS.
(a) Repeal of Distributions for Medicine Qualified Only if for Prescribed Drug or Insulin.--
(1) Hsas.--Section 223(d)(2)(A) of the Internal Revenue Code of 1986 is amended by striking the last sentence thereof.
(2) Archer msas.--Section 220(d)(2)(A) of such Code is amended by striking the last sentence thereof.
(3) Health flexible spending arrangements and health reimbursement arrangements.--Section 106 of such Code is amended by striking subsection (f).
(4) Effective date.--
(A) Distributions from savings accounts.--The amendments made by paragraphs (1) and (2) shall apply to amounts paid with respect to taxable years beginning after December 31, 2011.
(B) Reimbursements.--The amendment made by paragraph (3) shall apply to expenses incurred with respect to taxable years beginning after December 31, 2011.
(b) Repeal of Limitation on Health Flexible Spending Arrangements Under Cafeteria Plans.--
(1) In general.--Section 125 of the Internal Revenue Code of 1986 is amended by striking subsection (i) and by redesignating subsections (j) through (l) as subsections (i) through (k), respectively.
(2) Effective date.--The amendments made by this subsection shall apply to taxable years beginning after December 31, 2012.
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Senate amendment submitted
July 24, 2012