II 

Calendar No. 16 

112TH CONGRESS 

1ST SESSION H. R. 4 

IN THE SENATE OF THE UNITED STATES 

MARCH 3, 2011 

Received; read the first time 

MARCH 4, 2011 

Read the second time and placed on the calendar 

AN ACT 

To repeal the expansion of information reporting requirements for payments of $600 or more to corporations, 

and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 


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HR 4 PCS 

1 SECTION 1. SHORT TITLE. 

2 This Act may be cited as the ‘‘Comprehensive 1099 

3 Taxpayer Protection and Repayment of Exchange Subsidy 

4 Overpayments Act of 2011’’. 

5 SEC. 2. REPEAL OF EXPANSION OF INFORMATION REPORT6 ING REQUIREMENTS TO PAYMENTS MADE TO 

7 CORPORATIONS AND TO PAYMENTS FOR 

8 PROPERTY AND OTHER GROSS PROCEEDS. 

9 (a) APPLICATION TO CORPORATIONS.—Section 6041 

10 of the Internal Revenue Code of 1986 is amended by strik11 ing subsections (i) and (j). 

12 (b) PAYMENTS FOR PROPERTY AND OTHER GROSS

13 PROCEEDS.—Subsection (a) of section 6041 of such Code 

14 is amended— 

15 (1) by striking ‘‘amounts in consideration for 

16 property,’’, and 

17 (2) by striking ‘‘gross proceeds,’’ both places it 

18 appears. 

19 (c) EFFECTIVE DATE.—The amendments made by 

20 this section shall apply to payments made after December 

21 31, 2011. 

22 SEC. 3. REPEAL OF EXPANSION OF INFORMATION REPORT23 ING REQUIREMENTS FOR RENTAL PROPERTY 

24 EXPENSE PAYMENTS. 

25 (a) IN GENERAL.—Section 6041 of the Internal Rev26 enue Code of 1986 is amended by striking subsection (h). 


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HR 4 PCS 

1 (b) EFFECTIVE DATE.—The amendment made by 

2 this section shall apply to payments made after December 

3 31, 2010. 

4 SEC. 4. INCREASE IN AMOUNT OF OVERPAYMENT OF 

5 HEALTH CARE CREDIT WHICH IS SUBJECT TO 

6 RECAPTURE. 

7 (a) IN GENERAL.—Clause (i) of section 36B(f)(2)(B) 

8 of the Internal Revenue Code of 1986 is amended to read 

9 as follows: 

10 ‘‘(i) IN GENERAL.—In the case of a 

11 taxpayer whose household income is less 

12 than 400 percent of the poverty line for 

13 the size of the family involved for the tax14 able year, the amount of the increase 

15 under subparagraph (A) shall in no event 

16 exceed the applicable dollar amount deter17 mined in accordance with the following 

18 table (one-half of such amount in the case 

19 of a taxpayer whose tax is determined 

20 under section 1(c) for the taxable year): 

‘‘If the household income (expressed as 

a percent of poverty line) is: The applicable dollar amount is: 

Less than 200% ................................... $600 

At least 200% but less than 300% ...... $1,500 

At least 300% but less than 400% ...... $2,500.’’. 


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HR 4 PCS 

1 (b) EFFECTIVE DATE.—The amendment made by 

2 this section shall apply to taxable years ending after De3 cember 31, 2013. 

Passed the House of Representatives March 3, 

2011. 

Attest: KAREN L. HAAS, 

Clerk. 


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srobinson on DSKHWCL6B1PROD with BILLS
Calendar No. 16 

112TH CONGRESS 

1ST SESSION H. R. 4 

AN ACT 

To repeal the expansion of information reporting 

corporations, and for other purposes. requirements for payments of $600 or more to 

MARCH 4, 2011 

Read the second time and placed on the calendar 


srobinson on DSKHWCL6B1PROD with BILLS