[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[S. 18 Introduced in Senate (IS)]

112th CONGRESS
  1st Session
                                 S. 18

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


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

             January 25 (legislative day, January 5), 2011

 Mr. Johanns (for himself, Mr. Manchin, Mr. Alexander, Ms. Ayotte, Mr. 
Barrasso, Mr. Begich, Mr. Bennet, Mr. Blunt, Mr. Boozman, Mr. Brown of 
  Massachusetts, Mr. Burr, Mr. Chambliss, Mr. Coats, Mr. Coburn, Ms. 
 Collins, Mr. Corker, Mr. Cornyn, Mr. Crapo, Mr. Ensign, Mr. Enzi, Mr. 
   Graham, Mr. Grassley, Mrs. Hagan, Mr. Hoeven, Mrs. Hutchison, Mr. 
 Inhofe, Mr. Isakson, Ms. Klobuchar, Mr. Kyl, Mr. Lee, Mr. Lugar, Mr. 
    McCain, Mr. McConnell, Mr. Moran, Ms. Murkowski, Mr. Nelson of 
Nebraska, Mr. Portman, Mr. Risch, Mr. Roberts, Ms. Snowe, Ms. Stabenow, 
Mr. Tester, Mr. Thune, Mr. Udall of Colorado, Mr. Wicker, Ms. Cantwell, 
Mr. Shelby, Mr. Vitter, Mr. Kirk, Mr. Sessions, Mr. Warner, Mr. Pryor, 
   Mr. Hatch, Mr. Nelson of Florida, Mr. Toomey, and Mrs. McCaskill) 
introduced the following bill; which was read twice and referred to the 
                          Committee on Finance

_______________________________________________________________________

                                 A BILL


 
   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 ``Small Business Paperwork Mandate 
Elimination Act''.

SEC. 2. REPEAL OF EXPANSION OF INFORMATION REPORTING REQUIREMENTS.

    Section 9006 of the Patient Protection and Affordable Care Act, and 
the amendments made thereby, are hereby repealed; and the Internal 
Revenue Code of 1986 shall be applied as if such section, and 
amendments, had never been enacted.

SEC. 3. RESCISSION OF UNSPENT FEDERAL FUNDS TO OFFSET 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discretionary funds are hereby rescinded.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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