(b) TELEHEALTH.—For purposes of alternative den-
tal health care providers and any other dental care pro-
viders who are licensed to provide clinical care, dental 
services provided under the demonstration program under 
this section may be administered by such providers 
through telehealth-enabled collaboration and supervision 
when deemed appropriate and feasible. 
(c) ALTERNATIVE DENTAL HEALTH CARE PRO-
VIDERS DEFINED.—In this section, the term ‘‘alternative 
dental health care providers’’ has the meaning given that 
term in section 340G–1(a)(2) of the Public Health Service 
Act (42 U.S.C. 256g–1(a)(2)). 
(d) AUTHORIZATION
OF APPROPRIATIONS.—There 
are authorized to be appropriated such sums as are nec-
essary to carry out the demonstration program under this 
section. 
TITLE VI—REPORTS TO 
CONGRESS 
SEC. 601. EVALUATION OF EXPANSION OF COVERAGE FOR 
DENTAL SERVICES. 
(a) SECRETARY
OF HEALTH
AND HUMAN SERV-
ICES.—Not later than October 1, 2016, the Secretary of 
Health and Human Services shall submit to Congress a 
report that provides a comprehensive cost-benefit analysis 
regarding the expansion of coverage for dental services 
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pursuant to this Act, including whether the provision of 
such services resulted in a reduction in total health care 
costs for individuals under the Medicare and Medicaid 
programs. 
(b) COMPTROLLER GENERAL.— 
(1) MEDICAID AND MEDICARE.—Not later than 
October 1, 2015, the Comptroller General of the 
United States shall submit to Congress a report that 
provides a comprehensive analysis and evaluation of 
the implementation and utilization of the expanded 
coverage for dental services pursuant to this Act for 
individuals enrolled in the Medicare and Medicaid 
programs. 
(2) DEMONSTRATION
PROGRAMS.—Not later 
than October 1, 2016, the Comptroller General of 
the United States shall submit to Congress a report 
that provides a comprehensive analysis and evalua-
tion of the demonstration programs described in sec-
tions 302, 311, 401, and 501, including— 
(A) the extent to which the programs im-
proved access to oral health care and increased 
utilization of oral health services; and 
(B) an examination of the training pro-
vided under the programs to alternative dental 
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health care providers and the quality of care 
provided by such providers. 
TITLE VII—FUNDING 
SEC. 701. TRANSACTION TAX. 
(a) IN GENERAL.—Chapter 36 of the Internal Rev-
enue Code of 1986 is amended by inserting after sub-
chapter B the following new subchapter: 
‘‘Subchapter C—Tax on Trading Transactions 
‘‘Sec. 4475. Tax on trading transactions. 
‘‘SEC. 4475. TAX ON TRADING TRANSACTIONS. 
‘‘(a) IMPOSITION OF TAX.—There is hereby imposed 
a tax on each covered transaction with respect to any secu-
rity. 
‘‘(b) RATE OF TAX.—The tax imposed under sub-
section (a) with respect to any covered transaction shall 
be 0.025 percent of the specified base amount with respect 
to such covered transaction. 
‘‘(c) SPECIFIED BASE AMOUNT.—For purposes of 
this section, the term ‘specified base amount’ means— 
‘‘(1) except as provided in paragraph (2), the 
fair market value of the security (determined as of 
the time of the covered transaction), and 
‘‘(2) in the case of any payment described in 
subsection (h), the amount of such payment. 
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‘‘(d) COVERED TRANSACTION.—For purposes of this 
section, the term ‘covered transaction’ means— 
‘‘(1) except as provided in paragraph (2), any 
purchase if— 
‘‘(A) such purchase occurs or is cleared on 
a facility located in the United States, or 
‘‘(B) the purchaser or seller is a United 
States person, and 
‘‘(2) any transaction with respect to a security 
described in subparagraph (D), (E), or (F) of sub-
section (e)(1), if— 
‘‘(A) such security is traded or cleared on 
a facility located in the United States, or 
‘‘(B) any party with rights under such se-
curity is a United States person. 
‘‘(e) SECURITY AND OTHER DEFINITIONS.—For pur-
poses of this section: 
‘‘(1) 
IN
GENERAL.—The 
term 
‘security’ 
means— 
‘‘(A) any share of stock in a corporation, 
‘‘(B) any partnership or beneficial owner-
ship interest in a partnership or trust, 
‘‘(C) any note, bond, debenture, or other 
evidence of indebtedness, 
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‘‘(D) any evidence of an interest in, or a 
derivative financial instrument with respect to, 
any security or securities described in subpara-
graph (A), (B), or (C), 
‘‘(E) any derivative financial instrument 
with respect to any currency or commodity, and 
‘‘(F) any other derivative financial instru-
ment any payment with respect to which is cal-
culated by reference to any specified index. 
‘‘(2) DERIVATIVE
FINANCIAL
INSTRUMENT.— 
The term ‘derivative financial instrument’ includes 
any option, forward contract, futures contract, no-
tional principal contract, or any similar financial in-
strument. 
‘‘(3) SPECIFIED
INDEX.—The term ‘specified 
index’ means any 1 or more of any combination of— 
‘‘(A) a fixed rate, price, or amount, or 
‘‘(B) a variable rate, price, or amount,
which is based on any current objectively deter-
minable information which is not within the control 
of any of the parties to the contract or instrument 
and is not unique to any of the parties’ cir-
cumstances. 
‘‘(4) TREATMENT OF EXCHANGES.— 
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‘‘(A) IN GENERAL.—An exchange shall be 
treated as the sale of the property transferred 
and a purchase of the property received by each 
party to the exchange. 
‘‘(B) CERTAIN DEEMED EXCHANGES.—In 
the case of a distribution treated as an ex-
change for stock under section 302 or 331, the 
corporation making such distribution shall be 
treated as having purchased such stock for pur-
poses of this section. 
‘‘(f) EXCEPTIONS.— 
‘‘(1) EXCEPTION FOR INITIAL ISSUES.—No tax 
shall be imposed under subsection (a) on any cov-
ered transaction with respect to the initial issuance 
of any security described in subparagraph (A), (B), 
or (C) of subsection (e)(1). 
‘‘(2) EXCEPTION FOR CERTAIN TRADED SHORT- 
TERM INDEBTEDNESS.—A note, bond, debenture, or 
other evidence of indebtedness which— 
‘‘(A) is traded on a trading facility located 
in the United States, and 
‘‘(B) has a fixed maturity of not more 
than 100 days, 
shall not be treated as described in subsection 
(e)(1)(C). 
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‘‘(B) in the case of a transaction described 
in subsection (d)(2)— 
‘‘(i) the payor if the payor is a United 
States person, and 
‘‘(ii) the payee if the payor is not a 
United States person. 
‘‘(h) CERTAIN PAYMENTS TREATED AS SEPARATE 
TRANSACTIONS.—Except as otherwise provided by the 
Secretary, any payment with respect to a security de-
scribed in subparagraph (D), (E), or (F) of subsection 
(e)(1) shall be treated as a separate transaction for pur-
poses of this section, including— 
‘‘(1) any net initial payment, net final or termi-
nating payment, or net periodical payment with re-
spect to a notional principal contract (or similar fi-
nancial instrument), 
‘‘(2) any payment with respect to any forward 
contract (or similar financial instrument), and 
‘‘(3) any premium paid with respect to any op-
tion (or similar financial instrument). 
‘‘(i) ADMINISTRATION.—The Secretary shall carry 
out this section in consultation with the Securities and Ex-
change Commission and the Commodity Futures Trading 
Commission. 
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‘‘(j) GUIDANCE; REGULATIONS.—The Secretary 
shall— 
‘‘(1) provide guidance regarding such informa-
tion reporting concerning covered transactions as the 
Secretary deems appropriate, and 
‘‘(2) prescribe such regulations as are necessary 
or appropriate to prevent avoidance of the purposes 
of this section, including the use of non-United 
States persons in such transactions.’’. 
(b) CLERICAL AMENDMENT.—The table of sub-
chapters for chapter 36 of the Internal Revenue Code of 
1986 is amended by inserting after the item relating to 
subchapter B the following new item: 
‘‘Subchapter C. Tax on trading transactions.’’. 
(c) EFFECTIVE DATE.—The amendments made by 
this section shall apply to transactions after December 31, 
2012. 
Æ 
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