[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4 Enrolled Bill (ENR)]

        H.R.4

                      One Hundred Twelfth Congress

                                 of the

                        United States of America


                          AT THE FIRST SESSION

         Begun and held at the City of Washington on Wednesday,
            the fifth day of January, two thousand and eleven


                                 An Act


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

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
    This Act may be cited as the ``Comprehensive 1099 Taxpayer 
Protection and Repayment of Exchange Subsidy Overpayments Act of 
2011''.
SEC. 2. REPEAL OF EXPANSION OF INFORMATION REPORTING REQUIREMENTS TO 
PAYMENTS MADE TO CORPORATIONS AND TO PAYMENTS FOR PROPERTY AND OTHER 
GROSS PROCEEDS.
    (a) Application to Corporations.--Section 6041 of the Internal 
Revenue Code of 1986 is amended by striking subsections (i) and (j).
    (b) Payments for Property and Other Gross Proceeds.--Subsection (a) 
of section 6041 of such Code is amended--
        (1) by striking ``amounts in consideration for property,'', and
        (2) by striking ``gross proceeds,'' both places it appears.
    (c) Effective Date.--The amendments made by this section shall 
apply to payments made after December 31, 2011.
SEC. 3. REPEAL OF EXPANSION OF INFORMATION REPORTING REQUIREMENTS FOR 
RENTAL PROPERTY EXPENSE PAYMENTS.
    (a) In General.--Section 6041 of the Internal Revenue Code of 1986 
is amended by striking subsection (h).
    (b) Effective Date.--The amendment made by this section shall apply 
to payments made after December 31, 2010.
SEC. 4. INCREASE IN AMOUNT OF OVERPAYMENT OF HEALTH CARE CREDIT WHICH 
IS SUBJECT TO RECAPTURE.
    (a) In General.--Clause (i) of section 36B(f)(2)(B) of the Internal 
Revenue Code of 1986 is amended to read as follows:
                ``(i) In general.--In the case of a taxpayer whose 
            household income is less than 400 percent of the poverty 
            line for the size of the family involved for the taxable 
            year, the amount of the increase under subparagraph (A) 
            shall in no event exceed the applicable dollar amount 
            determined in accordance with the following table (one-half 
            of such amount in the case of a taxpayer whose tax is 
            determined under section 1(c) for the taxable year):


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  ``If the household income (expressed as a
         percent of poverty line) is:                           The applicable dollar amount is:
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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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''.    (b) Effective Date.--The amendment made by this section shall 
apply to taxable years ending after December 31, 2013.

                               Speaker of the House of Representatives.

                            Vice President of the United States and    
                                               President of the Senate.