To amend the Internal Revenue Code of 1986 to extend the credit for health insurance costs of certain Pension Benefit Guaranty Corporation pension recipients.

Bill: 114-hr-1143
Sponsor: full_name: Rep. Turner, Michael R. [R-OH-10]
Introduced: 2015-02-26
Policy area: Taxation
Subjects: Comprehensive health care

Employee benefits and pensions

Health care costs and insurance

Health care coverage and access

Income tax credits
Latest action: action_date: 2015-02-26
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2015-02-26
action_desc: Introduced in House
text: <p>This bill extends through December 31, 2019, the eligibility of Pension Benefit Guaranty Corporation pension recipients for the health care tax credit. </p>

tv_txt: I 114th CONGRESS 1st Session H. R. 1143 IN THE HOUSE OF REPRESENTATIVES February 26, 2015 Mr. Turner 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 extend the credit for health insurance costs of certain Pension Benefit Guaranty Corporation pension recipients.

1. Extension of health insurance cost credit for certain PBGC pension recipients (a) In general Section 35(b) of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph: (3) Extension for eligible PBGC pension recipients (A) In general In the case of an eligible PBGC pension recipient, paragraph (1)(B) shall be applied by substituting January 1, 2020 for January 1, 2014 . (B) Coordination If, for any month, subparagraph (A) applies and the individual is an eligible individual— (i) such month shall not be a coverage month under section 36B(c)(2), and (ii) no penalty shall be imposed under section 5000A with respect to the eligible individual or any family member who is covered by qualified health insurance. (C) Election Subparagraph (A) shall not apply with respect to an eligible individual if the individual elects not to have a month treated as an eligible coverage month. Such election, once made, shall be irrevocable, and the individual may not thereafter be treated as an eligible individual for purposes of this section. . (b) Effective date The amendments made by this section shall apply to months beginning after December 31, 2013.