Health Coverage Tax Credit Extension Act of 2015

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Health Coverage Tax Credit Extension 
Act of 2015''.

SEC. 2. EXTENSION AND MODIFICATION OF HEALTH COVERAGE TAX CREDIT.

    (a) Extension.--Subparagraph (B) of section 35(b)(1) of the 
Internal Revenue Code of 1986 is amended by striking ``before January 
1, 2014'' and inserting ``before January 1, 2020''.
    (b) Coordination With Credit for Coverage Under a Qualified Health 
Plan.--Subsection (g) of section 35 of the Internal Revenue Code of 
1986 is amended--
            (1) by redesignating paragraph (11) as paragraph (13), and
            (2) by inserting after paragraph (10) the following new 
        paragraphs:
            ``(11) Election.--
                    ``(A) In general.--A taxpayer may elect to have 
                this section apply for any eligible coverage month.
                    ``(B) Timing and applicability of election.--Except 
                as the Secretary may provide--
                            ``(i) an election to have this section 
                        apply for any eligible coverage month in a 
                        taxable year shall be made not later than the 
                        due date (including extensions) for the return 
                        of tax for the taxable year, and
                            ``(ii) any election for this section to 
                        apply for an eligible coverage month shall 
                        apply for all subsequent eligible coverage 
                        months in the taxable year and, once made, 
                        shall be irrevocable with respect to such 
                        months.
            ``(12) Coordination with premium tax credit.--
                    ``(A) In general.--An eligible coverage month to 
                which the election under paragraph (11) applies shall 
                not be treated as a coverage month (as defined in 
                section 36B(c)(2)) for purposes of section 36B with 
                respect to the taxpayer.
                    ``(B) Coordination with advance payments of premium 
                tax credit.--In the case of a taxpayer who makes the 
                election under paragraph (11) with respect to any 
                eligible coverage month in a taxable year or on behalf 
                of whom any advance payment is made under section 7527 
                with respect to any month in such taxable year--
                            ``(i) the tax imposed by this chapter for 
                        the taxable year shall be increased by the 
                        excess, if any, of--
                                    ``(I) the sum of any advance 
                                payments made on behalf of the taxpayer 
                                under section 1412 of the Patient 
                                Protection and Affordable Care Act and 
                                section 7527 for months during such 
                                taxable year, over
                                    ``(II) the sum of the credits 
                                allowed under this section (determined 
                                without regard to paragraph (1)) and 
                                section 36B (determined without regard 
                                to subsection (f)(1) thereof) for such 
                                taxable year, and
                            ``(ii) section 36B(f)(2) shall not apply 
                        with respect to such taxpayer for such taxable 
                        year, except that if such taxpayer received any 
                        advance payments under section 7527 for any 
                        month in such taxable year and is later allowed 
                        a credit under section 36B for such taxable 
                        year, then section 36B(f)(2) shall be applied 
                        by substituting the amount determined under 
                        clause (i) for the amount determined under 
                        section 36B(f)(2)(A).''.
    (c) Extension of Advance Payment Program.--
            (1) In general.--Subsection (a) of section 7527 of the 
        Internal Revenue Code of 1986 is amended by striking ``August 
        1, 2003'' and inserting ``the date that is 1 year after the 
        date of the enactment of the Health Coverage Tax Credit 
        Extension Act of 2015''.
            (2) Conforming amendment.--Paragraph (1) of section 7527(e) 
        of such Code is amended by striking ``occurring'' and all that 
        follows and inserting ``occurring--
                    ``(A) after the date that is 1 year after the date 
                of the enactment of the Health Coverage Tax Credit 
                Extension Act of 2015, and
                    ``(B) prior to the first month for which an advance 
                payment is made on behalf of such individual under 
                subsection (a).''.
    (d) Individual Insurance Treated as Qualified Health Insurance 
Without Regard to Enrollment Date.--
            (1) In general.--Subparagraph (J) of section 35(e)(1) of 
        the Internal Revenue Code of 1986 is amended by striking 
        ``insurance if the eligible individual'' and all that follows 
        through ``For purposes of'' and inserting ``insurance. For 
        purposes of''.
            (2) Special rule.--Subparagraph (J) of section 35(e)(1) of 
        such Code, as amended by paragraph (1), is amended by striking 
        ``insurance.'' and inserting ``insurance (other than coverage 
        enrolled in through an Exchange established under the Patient 
        Protection and Affordable Care Act).''.
    (e) Conforming Amendment.--Subsection (m) of section 6501 of the 
Internal Revenue Code of 1986 is amended by inserting ``, 35(g)(11)'' 
after ``30D(e)(4)''.
    (f) Effective Date.--
            (1) In general.--Except as provided in paragraph (2), the 
        amendments made by this section shall apply to coverage months 
        in taxable years beginning after December 31, 2013.
            (2) Plans available on individual market for use of tax 
        credit.--The amendment made by subsection (d)(2) shall apply to 
        coverage months in taxable years beginning after December 31, 
        2015.
            (3) Transition rule.--Notwithstanding section 
        35(g)(11)(B)(i) of the Internal Revenue Code of 1986 (as added 
        by this Act), an election to apply section 35 of such Code to 
        an eligible coverage month (as defined in section 35(b) of such 
        Code) (and not to claim the credit under section 36B of such 
        Code with respect to such month) in a taxable year beginning 
        after December 31, 2013, and before the date of the enactment 
        of this Act--
                    (A) may be made at any time on or after such date 
                of enactment and before the expiration of the 3-year 
                period of limitation prescribed in section 6511(a) with 
                respect to such taxable year; and
                    (B) may be made on an amended return.

SEC. 3. AGENCY OUTREACH.

    As soon as possible after the date of the enactment of this Act, 
the Secretaries of the Treasury, Health and Human Services, and Labor 
(or such Secretaries' delegates) and the Director of the Pension 
Benefit Guaranty Corporation (or the Director's delegate) shall carry 
out programs of public outreach, including on the Internet, to inform 
potential eligible individuals (as defined in section 35(c)(1) of the 
Internal Revenue Code of 1986) of the extension of the credit under 
section 35 of the Internal Revenue Code of 1986 and the availability of 
the election to claim such credit retroactively for coverage months 
beginning after December 31, 2013.

Summary: Health Coverage Tax Credit Extension Act of 2015 This bill extends the tax credit for health insurance costs of a taxpayer and qualifying family members through 2019. The tax credit for health insurance costs is a refundable tax credit equal to 72.5% of the cost of qualified health coverage paid by an eligible individual [defined as an individual who is receiving a trade adjustment allowance, is eligible for the alternative trade adjustment assistance program, or is over age 55 and receives pension benefits from the Pension Benefit Guaranty Corporation (PBGC)]. The bill requires a taxpayer to make an election to have the tax credit apply for any eligible coverage month during a taxable year. An eligible coverage month is a month in which an eligible individual is covered by qualified health insurance, does not have other specified coverage, and is not imprisoned.  The bill also directs the Departments of the Treasury, Health and Human Services, and Labor and the PBGC to conduct a public outreach, including on the Internet, to inform individuals eligible for the tax credit for health insurance costs on the extension of such credit and the availability of the election to claim such credit retroactively for coverage months beginning after December 31, 2013.