S. 951Senate108th Congress (2003-2005)In Committee

Older Americans Prescription Drug Tax Relief Act

Introduced April 30, 2003

Legislative Activity

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2 earlier actions
SenateIntro Referral Latest Action

Read twice and referred to the Committee on Finance.

April 30, 2003

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SenateIntro Referral

Introduced in Senate

April 30, 2003

SenateIntro Referral

Sponsor introductory remarks on measure. (CR S5597)

April 30, 2003

SenateIntro Referral

Read twice and referred to the Committee on Finance.

April 30, 2003

Floor Debate

18 members

What members said about S. 951 on the floor

8 Republicans10 Democrats
John D. Rockefeller IV
Sen. John D. Rockefeller IVD-WV · Apr 30, 2003

Mr. President, I am pleased to cosponsor legislation being introduced today that will dramatically improve the child tax credit. I thank my friend and colleague, Senator Lincoln, for her hard work on…

Russell D. Feingold
Sen. Russell D. FeingoldD-WI · Apr 30, 2003

Mr. President, as millions of public school students and teachers around the country prepare to complete their first school year under the No Child Left Behind Act, NCLB, I am introducing a bill that…

Mark Dayton
Sen. Mark DaytonD-MN · Apr 30, 2003

Mr. President, I want to share some of my experiences over the last 2 weeks as part of a bipartisan delegation of Senators who traveled to Japan, Taiwan, South Korea, and China. Upon my return to…

Michael B. Enzi
Sen. Michael B. EnziR-WY · Apr 30, 2003

Mr. President, today I offer a bill that will make a very small change in our Cuba policy. It deals only with travel provisions to Cuba. I have been watching Cuba since the 1960s. I went to George…

John Warner
Sen. John WarnerR-VA · Apr 30, 2003

Mr. President, I rise today to introduce this morning a bill on which my distinguished colleagues from Minnesota and Maine and I have collaborated. That is the Older Americans Prescription Drug Tax…

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John Warner
Sen. John WarnerR-VA · Apr 30, 2003

Mr. President, I rise today to introduce this morning a bill on which my distinguished colleagues from Minnesota and Maine and I have collaborated. That is the Older Americans Prescription Drug Tax…

Herb Kohl
Sen. Herb KohlD-WI · Apr 30, 2003

Mr. President, I rise today to reintroduce the Patient Abuse Prevention Act, which will go a long way in protecting patients in long-term care from abuse and neglect. This legislation will establish…

Jon S. Corzine
Sen. Jon S. CorzineD-NJ · Apr 30, 2003

Mr. President, I rise today to reintroduce my legislation, the Patient and Physician Safety and Protection Act of 2003, to limit medical resident work hours to 80 hours a week and to provide real…

Byron L. Dorgan
Sen. Byron L. DorganD-ND · Apr 30, 2003

Mr. President, this morning, my colleague from Wyoming, Senator Enzi, has introduced a piece of legislation I am an original cosponsor of. I want to make a point about the legislation. The…

Lisa Murkowski
Sen. Lisa MurkowskiR-AK · Apr 30, 2003

Mr. President, I rise today to introduce legislation to correct an inequity in the HUBzone contracting program administered by the Small Business Administration, SBA. This bill amends the criteria by…

Max Baucus
Sen. Max BaucusD-MT · Apr 30, 2003

Madam President, I rise today to offer legislation, along with my colleagues Senator Enzi and Senator Dorgan, that would end the restrictions placed on travel to Cuba. I understand our colleagues in…

Richard C. Shelby
Sen. Richard C. ShelbyR-AL · Apr 30, 2003

Mr. President, on July 31, 2002, the Federal Energy Regulatory Commission, FERC, issued a notice of proposed rulemaking to create a one-size-fits-all template for electric markets referred to as…

Debbie Stabenow
Sen. Debbie StabenowD-MI · Apr 30, 2003

Mr. President, I rise today to speak on behalf of a bill I am introducing to turn the historic United States Coast Guard Cutter Bramble, into a floating maritime museum in Port Huron, MI, after she…

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Daniel K. Akaka
Sen. Daniel K. AkakaD-HI · Apr 30, 2003

Mr. President, I rise today to introduce legislation to authorize three important water reclamation projects in the State of Hawaii. In addition, this bill increases the amount authorized for the…

Mark Dayton
Sen. Mark DaytonD-MN · Apr 30, 2003

I commend my colleague from Wyoming and his leadership in relationship to Cuba, which is of strong interest to businesses and farmers in my home State of Minnesota. I ask unanimous consent to be…

James M. Inhofe
Sen. James M. InhofeR-OK · Apr 30, 2003

Mr. President, as the Senate's only commercially licensed pilot, I rise today, along with my colleagues, Senator Kyl, Senator Burns, Senator Thomas and Senator Grassley, to introduce a bill that will…

Barbara Boxer
Sen. Barbara BoxerD-CA · Apr 30, 2003

Mr. President, I am pleased to introduce the ``Flight Attendant Certification Act.'' Since September 11, flight attendants have become a last line of defense against terrorist attacks. As we all…

Mark Dayton
Sen. Mark DaytonD-MN · Apr 30, 2003

Mr. President, I thank the senior Senator from Virginia, a leader on this measure. I will be brief because I am scheduled to meet in my office in just a few moments with the nominee for the new…

John Warner
Sen. John WarnerR-VA · Apr 30, 2003

Before my colleague departs, I commend him for the interest the Senator has taken in the men and women of the Armed Forces, the national security policy of this country as a Member of the Senate…

Pete V. Domenici
Sen. Pete V. DomeniciR-NM · Apr 30, 2003

Mr. President, I ask unanimous consent that the text of the bill be printed in the Record.

Trent Lott
Sen. Trent LottR-MS · Apr 30, 2003

Mr. President, I ask unanimous consent that the text of the bill be printed in the Record.

George Allen
Sen. George AllenR-VA · Apr 30, 2003

Mr. President, I ask unanimous consent that the order for the quorum call be rescinded.

Bill Text

Latest available legislative text

Reading Mode
Latest
Introduced in SenateIssued April 30, 2003
        [Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[S. 951 Introduced in Senate (IS)]

108th CONGRESS
1st Session
S. 951

To amend the Internal Revenue Code of 1986 to allow medicare
beneficiaries a refundable credit against income tax for the purchase
of outpatient prescription drugs.

_______________________________________________________________________

IN THE SENATE OF THE UNITED STATES

April 30, 2003

Mr. Warner (for himself, Mr. Dayton, and Ms. Collins) introduced the
following bill; which was read twice and referred to the Committee on
Finance

_______________________________________________________________________

A BILL

To amend the Internal Revenue Code of 1986 to allow medicare
beneficiaries a refundable credit against income tax for the purchase
of outpatient prescription drugs.

Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the ``Older Americans Prescription Drug
Tax Relief Act''.

SEC. 2. REFUNDABLE CREDIT FOR OUTPATIENT PRESCRIPTION DRUGS FOR
MEDICARE BENEFICIARIES.

(a) In General.--Subpart C of part IV of subchapter A of chapter 1
of the Internal Revenue Code of 1986 (relating to refundable credits)
is amended by redesignating section 36 as section 37 and by inserting
after section 35 the following new section:

``SEC. 36. OUTPATIENT PRESCRIPTION DRUGS FOR MEDICARE BENEFICIARIES.

``(a) In General.--In the case of an eligible individual, there
shall be allowed as a credit against the tax imposed by this subtitle
an amount equal to 50 percent of the amount paid during the taxable
year, not compensated for by insurance or otherwise, for qualified
outpatient prescription drugs for such individual.
``(b) Limitations.--
``(1) Dollar limitation.--The amount paid for qualified
outpatient prescription drugs which may be taken into account
under subsection (a) for any taxable year with respect to any
eligible individual shall not exceed $1,000.
``(2) Income limitation.--The amount allowable as a credit
under subsection (a) for any taxable year shall be reduced (but
not below zero) by $100 for each $1,000 (or fraction thereof)
by which the taxpayer's adjusted gross income for the taxable
year exceeds $75,000 ($150,000 in the case of a joint return).
``(c) Eligible Individual.--For purposes of this section, the term
`eligible individual' means, with respect to any taxable year, any
individual entitled to any benefits under title XVIII of the Social
Security Act during such taxable year.
``(d) Qualified Outpatient Prescription Drugs.--For purposes of
this section, the term `qualified outpatient prescription drugs' means,
with respect to any taxable year, any prescription drug other than a
prescription drug any portion of the cost of which is covered under
title XVIII of the Social Security Act during such taxable year.
``(e) Coordination With Medical Expense Deduction.--The amount
which would (but for this paragraph) be taken into account by the
taxpayer under section 162(l) or 213 for the taxable year shall be
reduced by the credit (if any) allowed by this section to the taxpayer
for such year.''.
(b) Conforming Amendments.--
(1) Paragraph (2) of section 1324(b) of title 31, United
States Code, is amended by inserting before the period ``, or
from section 36 of such Code''.
(2) The table of sections for subpart C of part IV of
subchapter A of chapter 1 of the Internal Revenue Code of 1986
is amended by striking the last item and inserting the
following new items:

``Sec. 36. Outpatient prescription drugs
for medicare beneficiaries.
``Sec. 37. Overpayments of tax.''.
(c) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2002.
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