Menstrual Products Tax Credit Act of 2016

Bill: 114-hr-5917
Sponsor: full_name: Rep. Meng, Grace [D-NY-6]
Introduced: 2016-07-18
Policy area: Taxation
Subjects: Health technology, devices, supplies

Income tax credits

Inflation and prices

Sex and reproductive health

Women's health
Latest action: action_date: 2016-07-18
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2016-07-18
action_desc: Introduced in House
text: <p><b>Menstrual Products Tax Credit Act of 2016 </b></p> <p>This bill amends the Internal Revenue Code to provide taxpayers with a refundable tax credit of $120 for each individual: (1) for whom a taxpayer is allowed a deduction for a personal exemption, and (2) who uses menstrual products. The credit must be adjusted for inflation after 2017 and is limited to taxpayers with modified adjusted gross incomes below specified amounts. </p> <p>The Department of Health and Human Services must determine and provide the Internal Revenue Service with a definition for &quot;menstrual products,&quot; which must include tampons, pads, liners, cups, and similar products used by women with respect to menstruation. </p>

tv_txt: I 114th CONGRESS 2d Session H. R. 5917 IN THE HOUSE OF REPRESENTATIVES July 18, 2016 Ms. Meng introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to provide a refundable credit for menstrual products.

1. Short title This Act may be cited as the Menstrual Products Tax Credit Act of 2016 . 2. Refundable credit for menstrual products (a) In general Subpart C of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 (relating to refundable credits) is amended by inserting after section 36B the following new section: 36C. Menstrual products (a) In general There shall be allowed as a credit against the tax imposed by this subtitle with respect to each eligible individual for whom the taxpayer is allowed a deduction under section 151 an amount equal to $120. (b) Limitation based on adjusted gross income (1) In general In the case of any taxpayer whose modified adjusted gross income exceeds the threshold amount, the amount of the credit allowable under subsection (a) shall be zero. For purposes of the preceding sentence, the term modified adjusted gross income means adjusted gross income increased by any amount excluded from gross income under section 911, 931, or 933. (2) Threshold amount For purposes of paragraph (1), the term threshold amount means— (A) $47,520 in the case of a joint return, (B) $35,640 in the case of a head of household, and (C) $23,760 in the case of a separate return. (c) Definitions For purposes of this section— (1) Eligible individual The term eligible individual means an individual who uses menstrual products. (2) Menstrual products defined The term menstrual products shall be determined by the Secretary of Health and Human Services by regulation and provided to the Secretary, and shall include tampons, pads, liners, cups, and similar products used by women with respect to menstruation. (d) Adjustment for inflation (1) In general For each taxable year beginning after 2017, the dollar amounts in subsections (a) and (b)(2) shall each be increased by an amount equal to the product of— (A) such dollar amount, and (B) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year, determined by substituting calendar year 2016 for calendar year 1992 in subparagraph (B) thereof. (2) Rounding If any increase determined under paragraph (1)— (A) in the case of the dollar amount in subsection (a) is not a multiple of $5, such increase shall be rounded to the next highest multiple of $5, and (B) in the case of the dollar amount in subsection (b)(2), is not a multiple of $1,000, such increase shall be rounded to the next lowest multiple of $1,000. (e) Regulations The Secretary shall prescribe such regulations as may be appropriate to carry out the purposes of this section. . (b) Conforming amendments (1) Section 1324(b)(2) of title 31, United States Code, is amended by inserting 36C, after 36B, . (2) The table of sections for subpart C of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after the item relating to section 36B the following new item: Sec. 36C. Menstrual products. . (c) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2016.