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S. 149 (114th): Medical Device Access and Innovation Protection Act

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The text of the bill below is as of Jan 13, 2015 (Introduced). The bill was not enacted into law.

II

114th CONGRESS

1st Session

S. 149

IN THE SENATE OF THE UNITED STATES

January 13, 2015

(for himself, Ms. Klobuchar, Mr. Toomey, Mr. Donnelly, Mr. Burr, Mr. Franken, Mr. Portman, Mr. Casey, Mr. Coats, Mrs. Shaheen, Mr. Alexander, Ms. Ayotte, Mr. Cassidy, Mr. Isakson, Ms. Murkowski, Mr. Scott, and Mr. Wicker) 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 repeal the excise tax on medical devices.

1.

Short title

This Act may be cited as the Medical Device Access and Innovation Protection Act.

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 subchapter for chapter 32 of such Code is amended by striking the item related to subchapter E.

(d)

Effective date

The amendments made by this section shall apply to sales after December 31, 2012.