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H.R. 160 (114th): Protect Medical Innovation Act of 2015


The text of the bill below is as of Jun 23, 2015 (Placed on Calendar in the Senate).


II

Calendar No. 125

114th CONGRESS

1st Session

H. R. 160

IN THE SENATE OF THE UNITED STATES

June 22, 2015

Received; read the first time

June 23, 2015

Read the second time and placed on the calendar

AN ACT

To amend the Internal Revenue Code of 1986 to repeal the excise tax on medical devices.

1.

Short title

This Act may be cited as the Protect Medical Innovation Act of 2015.

2.

Repeal of medical device excise tax

(a)

In general

Chapter 32 of the Internal Revenue Code of 1986 is amended by striking subchapter E.

(b)

Conforming amendments

(1)

Subsection (a) of section 4221 of such Code is amended by striking the last sentence.

(2)

Paragraph (2) of section 6416(b) of such Code is amended by striking the last sentence.

(c)

Clerical amendment

The table of subchapters for chapter 32 of such Code is amended by striking the item relating to subchapter E.

(d)

Effective date

The amendments made by this section shall apply to sales in calendar quarters beginning after the date of the enactment of this Act.

3.

Budgetary effects

The budgetary effects of this Act shall not be entered on either PAYGO scorecard maintained pursuant to section 4(d) of the Statutory Pay-As-You-Go Act of 2010.

Passed the House of Representatives June 18, 2015.

Karen L. Haas,

Clerk

June 23, 2015

Read the second time and placed on the calendar