Sec. 30602. Temporary expansion of health insurance premium tax credits for certain low-income populations
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/bill/117/hr/5376/rh/section-30602·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 36B is amended by redesignating subsection
(h)as subsection
(i)and by inserting after subsection
(g)the following new subsection: With respect to any taxable year beginning after December 31, 2021, and before January 1, 2025— Section 36B(c)(1)(A) shall be disregarded in determining whether a taxpayer is an applicable taxpayer. Subclause
(II)of subsection (c)(2)(C)(i) shall not apply if the taxpayer’s household income does not exceed 138 percent of the poverty line for a family of the size involved. The last sentence of such subsection shall also apply for purposes of this paragraph. Subclause
(II)of subsection (c)(2)(C)(i) shall also not apply to an individual described in the last sentence of such subsection if the taxpayer’s household income does not exceed 138 percent of the poverty line for a family of the size involved. A qualified small employer health reimbursement arrangement shall not be treated as constituting affordable coverage for an employee (or any spouse or dependent of such employee) for any months of a taxable year if the employee’s household income for such taxable year does not exceed 138 percent of the poverty line for a family of the size involved. In the case of a taxpayer whose household income is less than 200 percent of the poverty line for the size of the family involved for the taxable year, the amount of the increase under subsection (f)(2)(A) shall in no event exceed $300 (one-half of such amount in the case of a taxpayer whose tax is determined under section 1(c) for the taxable year). In the case of any taxpayer who would not be required to file a return of tax for the taxable year but for any requirement to reconcile advance credit payments under subsection (f), if an Exchange established under title I of the Patient Protection and Affordable Care Act has determined that— such taxpayer is eligible for advance payments under section 1412 of such Act for any portion of such taxable year, and such taxpayer’s household income for such taxable year is projected to not exceed 138 percent of the poverty line for a family of the size involved, subsection (f)(2)(A) shall not apply to such taxpayer for such taxable year and such taxpayer shall not be required to file such return of tax. The information required to be provided by an Exchange to the Secretary and to the taxpayer under subsection (f)(3) shall include such information as is necessary to determine whether such Exchange has made the determinations described in clauses
(i)and
(ii)of subparagraph
(B)with respect to such taxpayer. . Section 4980H(c)(3) is amended to read as follows: The term applicable premium tax credit and cost-sharing reduction means— any premium tax credit allowed under section 36B, any cost-sharing reduction under section 1402 of the Patient Protection and Affordable Care Act, and any advance payment of such credit or reduction under section 1412 of such Act. Such term shall not include any premium tax credit, cost-sharing reduction, or advance payment otherwise described in subparagraph
(A)if such credit, reduction, or payment is allowed or paid for a taxable year of an employee (beginning after December 31, 2021, and before January 1, 2025) with respect to which— an Exchange established under title I of the Patient Protection and Affordable Care Act has determined that such employee’s household income for such taxable year is projected to not exceed 138 percent of the poverty line for a family of the size involved, or such employee’s household income for such taxable year does not exceed 138 percent of the poverty line for a family of the size involved. . The amendments made by this section shall apply to taxable years beginning after December 31, 2021.