[Congressional Record Volume 150, Number 15 (Monday, February 9, 2004)]
[Senate]
[Pages S722-S723]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. COLEMAN:
  S. 2055. A bill to amend the Internal Revenue Code of 1986 to allow a 
credit against income tax for the purchase of hearing aids; to the 
Committee on Finance.
   Mr. COLEMAN. Mr. President, I ask unanimous consent that the text of 
the bill I introduce today, the Hearing Aid Assistance Tax Credit Act, 
be printed in the Record.

[[Page S723]]

  There being no objection, the bill was ordered to be printed in the 
Record, as follows:

                                S. 2055

       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 ``Hearing Aid Assistance Tax 
     Credit Act''.

     SEC. 2. CREDIT FOR HEARING AIDS FOR SENIORS AND DEPENDENTS.

       (a) In General.--Subpart A of part IV of subchapter A of 
     chapter 1 of the Internal Revenue Code of 1986 (relating to 
     nonrefundable personal credits) is amended by inserting after 
     section 25B the following new section:

     ``SEC. 25C CREDIT FOR HEARING AIDS.

       ``(a) Allowance of Credit.--In the case of an individual, 
     there shall be allowed as a credit against the tax imposed by 
     this chapter an amount equal to the amount paid during the 
     taxable year, not compensated by insurance or otherwise, by 
     the taxpayer for the purchase of any qualified hearing aid.
       ``(b) Maximum Amount.--The amount allowed as a credit under 
     subsection (a) shall not exceed $500 per qualified hearing 
     aid.
       ``(c) Qualified Hearing Aid.--For purposes of this section, 
     the term `qualified hearing aid' means a hearing aid--
       ``(1) which is described in section 874.3300 of title 21, 
     Code of Federal Regulations, and is authorized under the 
     Federal Food, Drug, and Cosmetic Act for commercial 
     distribution, and
       ``(2) which is intended for use--
       ``(A) by the taxpayer, but only if the taxpayer (or the 
     spouse intending to use the hearing aid, in the case of a 
     joint return) is age 55 or older, or
       ``(B) by an individual with respect to whom the taxpayer, 
     for the taxable year, is allowed a deduction under section 
     151(c) (relating to deduction for personal exemptions for 
     dependents).
       ``(d) Election Once Every 5 Years.--This section shall 
     apply to any individual for any taxable year only if such 
     individual elects (at such time and in such manner as the 
     Secretary may by regulations prescribe) to have this section 
     apply for such taxable year. An election to have this section 
     apply may not be made for any taxable year if such election 
     is in effect with respect to such individual for any of the 4 
     taxable years preceding such taxable year.
       ``(e) Denial of Double Benefit.--No credit shall be allowed 
     under subsection (a) for any expense for which a deduction or 
     credit is allowed under any other provision of this 
     chapter.''.
       (b) Clerical Amendment.--The table of sections for subpart 
     A of part IV of subchapter A of chapter 1 of such Code is 
     amended by inserting after the item relating to section 25B 
     the following new item:

``Sec. 25C. Credit for hearing aids.''.

         (h) Effective Date.--The amendments made by this section 
     shall apply to taxable years beginning after December 31, 
     2003.
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