S.Amdt. 3112

SA 3112. Mr. HARKIN (for himself, Mr. Grassley, Mr. Rockefeller, and Mr. Blunt) submitted an amendment intended to be proposed by him to the bill H.R. 3474, to amend the Internal Revenue Code of 1986 to allow employers to exempt employees with health coverage under TRICARE or the Veterans Administration from being taken into account for purposes of the employer mandate under the Patient Protection and Affordable Care Act; which was ordered to lie on the table; as follows:

At the end, add the following:

TITLE _--OTHER PROVISIONS

SEC. __01. INCREASE IN LIMITATION FOR ALTERNATIVE TAX LIABILITY FOR SMALL PROPERTY AND CASUALTY INSURANCE COMPANIES.

(a) In General.--Section 831(b)(2)(A) of the Internal Revenue Code of 1986 is amended--

(1) by striking “every insurance company other than life (including interinsurers and reciprocal underwriters)” and inserting “every property or casualty insurance company”,

(2) in clause (i), by striking “$1,200,000, and” and inserting “$2,100,000,”,

(3) by redesignating clause (ii) as clause (iii),

(4) by inserting after clause (i) the following new clause:

“(ii) more than 50 percent of the gross receipts of such company consist of premiums, and”, and

(5) in the flush matter at the end, by striking “clause (ii)” and inserting “clause (iii)”.

(b) Inflation Adjustment.--Paragraph (2) of section 831(b) of such Code is amended by adding at the end the following new subparagraph:

“(C) Inflation adjustment.--In the case of any taxable year beginning in a calendar year after 2014, the dollar amount set forth in subparagraph (A)(i) shall be increased by an amount equal to--

“(i) such dollar amount, multiplied by

“(ii) the cost-of-living adjustment determined under section 1(f)(3) for such calendar year by substituting ‘calendar year 2013' for ‘calendar year 1992' in subparagraph (B) thereof.

If the amount as adjusted under the preceding sentence is not a multiple of $1,000, such amount shall be rounded to the next lowest multiple of $1,000.”.

(c) Effective Date.--The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.