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Text of the Restoring Access to Medication Act

This bill was introduced on July 14, 2011, in a previous session of Congress, but was not enacted. The text of the bill below is as of Jul 14, 2011 (Introduced).

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Source: GPO

II

112th CONGRESS

1st Session

S. 1368

IN THE SENATE OF THE UNITED STATES

July 14, 2011

(for himself and Mr. Nelson of Nebraska) introduced the following bill; which was read twice and referred to the Committee on Finance

A BILL

To amend the Patient Protection and Affordable Care Act to repeal distributions for medicine qualified only if for prescribed drug or insulin.

1.

Short title

This Act may be cited as the Restoring Access to Medication Act.

2.

Repeal of distributions for medicine qualified only if for prescribed drug or insulin

Section 9003 of the Patient Protection and Affordable Care Act (Public Law 111–148) and the amendments made by such section are repealed; and the Internal Revenue Code of 1986 shall be applied as if such section, and amendments, had never been enacted.

3.

Rescission of unspent federal funds to offset loss in revenues

(a)

In general

Notwithstanding any other provision of law, of all available unobligated funds, appropriated discretionary funds are hereby rescinded in such amounts as determined by the Director of the Office of Management and Budget such that the aggregate amount of such rescission equals the reduction in revenues to the Treasury by reason of the repeal, and amendments, made by section 2.

(b)

Implementation

The Director of the Office of Management and Budget shall determine and identify from which appropriation accounts the rescission under subsection (a) shall apply and the amount of such rescission that shall apply to each such account. Not later than 60 days after the date of the enactment of this Act, the Director of the Office of Management and Budget shall submit a report to the Secretary of the Treasury and Congress of the accounts and amounts determined and identified for rescission under the preceding sentence.

(c)

Exception

This section shall not apply to the unobligated funds of the Department of Veterans Affairs or the Social Security Administration.