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H.R. 724 (114th): Taxpayer Bailout Protection Act

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The text of the bill below is as of Feb 4, 2015 (Introduced). The bill was not enacted into law.

I

114th CONGRESS

1st Session

H. R. 724

IN THE HOUSE OF REPRESENTATIVES

February 4, 2015

(for himself and Mrs. Blackburn) introduced the following bill; which was referred to the Committee on Energy and Commerce

A BILL

To amend title I of the Patient Protection and Affordable Care Act to impose restrictions on the risk corridor program, and for other purposes.

1.

Short title

This Act may be cited as the Taxpayer Bailout Protection Act.

2.

Restrictions on PPACA risk corridor program

Section 1342(b) of the Patient Protection and Affordable Care Act (42 U.S.C. 18062(b)) is amended—

(1)

in paragraph (1), by striking The Secretary and inserting Subject to paragraph (3), the Secretary; and

(2)

by adding at the end the following new paragraph:

(3)

Safeguard to protect taxpayers

(A)

In general

The Secretary shall ensure that the amount of payments to plans under paragraph (1) for a plan year beginning during calendar year 2014, 2015, or 2016 does not exceed the amount of payments to the Secretary under paragraph (2) for such plan year.

(B)

Adjustment to protect taxpayers

The Secretary shall proportionately decrease the amount of payments to plans under paragraph (1) in order to ensure that the requirement of subparagraph (A) is satisfied each year.

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