This bill is an alternate proposal to repeal (but not replace) the Affordable Care Act (ACA, also known as Obamacare). The leading proposal is H.R. 1628.
The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Jan 3, 2017.
ObamaCare Repeal Act
This bill repeals the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010, effective as of their enactment. Provisions of law amended by those Acts are restored.