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S. 1529: Addressing Affordability for More Americans Act of 2017

The text of the bill below is as of Jul 11, 2017 (Introduced).

Source: GPO

II

115th CONGRESS

1st Session

S. 1529

IN THE SENATE OF THE UNITED STATES

July 11, 2017

(for herself, Mrs. Shaheen, and Mr. King) 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 expand eligibility for the refundable credit for coverage under a qualified health plan.

1.

Short title

This Act may be cited as the Addressing Affordability for More Americans Act of 2017.

2.

Increase in eligibility for credit

(a)

In general

Subparagraph (A) of section 36B(c)(1) of the Internal Revenue Code of 1986 is amended by striking 400 percent and inserting 800 percent.

(b)

Applicable percentages

The table contained in clause (i) of section 36B(b)(3)(A) of the Internal Revenue Code of 1986 is amended by striking the period at the end of the last row and by adding at the end the following new rows:

400% up to 550%9.5%11%
550% up to 700%11%13%
700% up to 800%13%15%.

.

(c)

Limitation on recapture

Clause (i) of section 36B(f)(2)(B) of the Internal Revenue Code of 1986 is amended—

(1)

by striking 400 percent and inserting 800 percent;

(2)

by striking the period at the end of the last row of the table; and

(3)

by adding at the end of the table the following new rows:

At least 400% but less than 600%$3,500
At least 600% but less than 800%$4,500.

.

(d)

Effective date

The amendments made by this section shall apply to taxable years beginning after December 31, 2017.