[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 734 Introduced in House (IH)]

112th CONGRESS
  1st Session
                                H. R. 734

To amend the Internal Revenue Code of 1986 to repeal the medical device 
                      tax, and for other purposes.


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                    IN THE HOUSE OF REPRESENTATIVES

                           February 16, 2011

Mr. Bilbray (for himself, Mr. Calvert, and Mr. Rohrabacher) introduced 
  the following bill; which was referred to the Committee on Ways and 
Means, and in addition to the Committee on Appropriations, for a period 
    to be subsequently determined by the Speaker, in each case for 
consideration of such provisions as fall within the jurisdiction of the 
                          committee concerned

_______________________________________________________________________

                                 A BILL


 
To amend the Internal Revenue Code of 1986 to repeal the medical device 
                      tax, 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. REPEAL OF MEDICAL DEVICE TAX.

    Subsections (a), (b), and (c) of section 1405 of the Health Care 
and Education Reconciliation Act of 2010, and the amendments made by 
such subsections, are hereby repealed, and the Internal Revenue Code of 
1986 shall be applied and administered as if such subsections and 
amendments had never been enacted.

SEC. 2. RESCISSION OF UNSPENT FEDERAL FUNDS TO OFF SET LOSS IN 
              REVENUES.

    (a) In General.--Notwithstanding any other provision of law, of all 
available unobligated funds, $39,000,000,000 in appropriated 
discretionary funds are hereby rescinded.
    (b) Implementation.--The Director of the Office of Management and 
Budget shall determine and identify from which appropriation accounts 
the rescission under subsection (a) shall apply and the amount of such 
rescission that shall apply to each such account. Not later than 60 
days after the date of the enactment of this Act, the Director of the 
Office of Management and Budget shall submit a report to the Secretary 
of the Treasury and Congress of the accounts and amounts determined and 
identified for rescission under the preceding sentence.
    (c) Exception.--This section shall not apply to the unobligated 
funds of the Department of Defense or the Department of Veterans 
Affairs.
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