[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1143 Introduced in House (IH)]

114th CONGRESS
  1st Session
                                H. R. 1143

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


_______________________________________________________________________


                    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.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 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.
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