[Congressional Record Volume 161, Number 100 (Monday, June 22, 2015)]
[Senate]
[Pages S4348-S4352]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
SA 2073. Mr. BROWN (for himself and Ms. Warren) submitted an
amendment
[[Page S4349]]
intended to be proposed by him to the bill H.R. 2146, to amend the
Internal Revenue Code of 1986 to allow Federal law enforcement
officers, firefighters, and air traffic controllers to make penalty-
free withdrawals from governmental plans after age 50, and for other
purposes; which was ordered to lie on the table; as follows:
At the end, add the following:
TITLE II--TRADE ADJUSTMENT ASSISTANCE
Subtitle A--Application of Provisions Relating to Trade Adjustment
Assistance
SEC. 201. APPLICATION OF PROVISIONS RELATING TO TRADE
ADJUSTMENT ASSISTANCE.
(a) Repeal of Snapback.--Section 233 of the Trade
Adjustment Assistance Extension Act of 2011 (Public Law 112-
40; 125 Stat. 416) is repealed.
(b) Applicability of Certain Provisions.--Except as
otherwise provided in this title, the provisions of chapters
2 through 6 of title II of the Trade Act of 1974, as in
effect on December 31, 2013, and as amended by this title,
shall--
(1) take effect on the date of the enactment of this Act;
and
(2) apply to petitions for certification filed under
chapter 2, 3, or 6 of title II of the Trade Act of 1974 on or
after such date of enactment.
(c) References.--Except as otherwise provided in this
title, whenever in this title an amendment or repeal is
expressed in terms of an amendment to, or repeal of, a
provision of chapters 2 through 6 of title II of the Trade
Act of 1974, the reference shall be considered to be made to
a provision of any such chapter, as in effect on December 31,
2013.
Subtitle B--Extension of Trade Adjustment Assistance Program
SEC. 211. EXTENSION OF TERMINATION PROVISIONS.
Section 285 of the Trade Act of 1974 (19 U.S.C. 2271 note)
is amended by striking ``2013'' each place it appears and
inserting ``2020''.
SEC. 212. TRAINING FUNDS.
Section 236(a)(2)(A) of the Trade Act of 1974 (19 U.S.C.
2296(a)(2)(A)) is amended--
(1) in clause (i), by striking ``and 2013'' and inserting
``through 2020''; and
(2) in clause (ii), by striking ``2013'' each place it
appears and inserting ``2020''.
SEC. 213. REEMPLOYMENT TRADE ADJUSTMENT ASSISTANCE.
Section 246(b)(1) of the Trade Act of 1974 (19 U.S.C.
2318(b)(1)) is amended by striking ``2013'' and inserting
``2020''.
SEC. 214. AUTHORIZATIONS OF APPROPRIATIONS.
(a) Trade Adjustment Assistance for Workers.--Section
245(a) of the Trade Act of 1974 (19 U.S.C. 2317(a)) is
amended by striking ``2013'' and inserting ``2020''.
(b) Trade Adjustment Assistance for Firms.--Section 255(a)
of the Trade Act of 1974 (19 U.S.C. 2345(a)) is amended--
(1) by striking ``$16,000,000'' and inserting
``$50,000,000'';
(2) by striking ``and 2013'' and inserting ``through
2020'';
(3) by striking ``$4,000,000'' and inserting
``$6,250,000''; and
(4) by striking ``October 1, 2013, and ending on December
31, 2013'' and inserting ``October 1, 2020, and ending on
December 31, 2020''.
(c) Trade Adjustment Assistance for Communities.--Section
272(a) of the Trade Act of 1974 (19 U.S.C. 2372(a)) is
amended by striking ``$40,000,000'' and all that follows
through ``December 31, 2010'' and inserting ``such sums as
may be necessary for each of the fiscal years 2015 through
2020 and for the period beginning October 1, 2020, and ending
December 31, 2020''.
(d) Trade Adjustment Assistance for Farmers.--Section
298(a) of the Trade Act of 1974 (19 U.S.C. 2401g(a)) is
amended--
(1) by striking ``and 2013'' and inserting ``through
2020''; and
(2) by striking ``October 1, 2013, and ending on December
31, 2013'' and inserting ``October 1, 2020, and ending on
December 31, 2020''.
SEC. 215. EXTENSION OF TRADE ADJUSTMENT ASSISTANCE TO PUBLIC
AGENCY WORKERS.
(a) Definitions.--Section 247 of the Trade Act of 1974 (19
U.S.C. 2319) is amended--
(1) in paragraph (3)--
(A) in the matter preceding subparagraph (A), by striking
``The'' and inserting ``Subject to section 222(d)(5), the'';
and
(B) in subparagraph (A), by striking ``or service sector
firm'' and inserting ``, service sector firm, or public
agency''; and
(2) by adding at the end the following:
``(19) The term `public agency' means a department or
agency of a State or local government or of the Federal
Government, or a subdivision thereof.''.
(b) Group Eligibility Requirements.--Section 222 of the
Trade Act of 1974 (19 U.S.C. 2272) is amended--
(1) by redesignating subsections (c), (d), and (e) as
subsections (d), (e), and (f), respectively;
(2) by inserting after subsection (b) the following:
``(c) Adversely Affected Workers in Public Agencies.--A
group of workers in a public agency shall be certified by the
Secretary as eligible to apply for adjustment assistance
under this chapter pursuant to a petition filed under section
221 if the Secretary determines that--
``(1) a significant number or proportion of the workers in
the public agency have become totally or partially separated,
or are threatened to become totally or partially separated;
``(2) the public agency has acquired from a foreign country
services like or directly competitive with services which are
supplied by such agency; and
``(3) the acquisition of services described in paragraph
(2) contributed importantly to such workers' separation or
threat of separation.'';
(3) in subsection (d) (as redesignated), by adding at the
end the following:
``(5) Reference to firm.--For purposes of subsections (a)
and (b), the term `firm' does not include a public agency.'';
and
(4) in paragraph (2) of subsection (e) (as redesignated),
by striking ``subsection (a) or (b)'' and inserting
``subsection (a), (b), or (c)''.
SEC. 216. LIMITATIONS ON TRADE READJUSTMENT ALLOWANCES.
(a) Limitations.--Section 233(a)(3) of the Trade Act of
1974 (19 U.S.C. 2293(a)(3)) is amended in the matter
preceding subparagraph (A) by striking ``65 additional weeks
in the 78-week period'' and inserting ``78 additional weeks
in the 91-week period''.
(b) Payment of Trade Readjustment Allowances To Complete
Training.--Section 233(f) of the Trade Act of 1974 (19 U.S.C.
2293(f)) is amended by striking ``13'' each place it appears
and inserting ``26''.
SEC. 217. JOB SEARCH AND RELOCATION ALLOWANCES.
(a) Job Search Allowances.--Section 237 of the Trade Act of
1974 (19 U.S.C. 2297) is amended--
(1) in subsection (a)(1)--
(A) by striking ``Each State'' and all that follows through
``an adversely affected worker'' and inserting ``An adversely
affected worker''; and
(B) by striking ``to file'' and inserting ``may file'';
(2) in subsection (b)--
(A) in paragraph (1), by striking ``not more than 90
percent'' and inserting ``100 percent''; and
(B) in paragraph (2), by striking ``$1,250'' and inserting
``$1,500''; and
(3) in subsection (c), by striking ``a State may'' and
inserting ``the Secretary shall''.
(b) Relocation Allowances.--Section 238 of the Trade Act of
1974 (19 U.S.C. 2298) is amended--
(1) in subsection (a)(1)--
(A) by striking ``Each State'' and all that follows through
``an adversely affected worker'' and inserting ``An adversely
affected worker''; and
(B) by striking ``to file'' and inserting ``may file''; and
(2) in subsection (b)--
(A) in paragraph (1), by striking ``not more than 90
percent'' and inserting ``100 percent''; and
(B) in paragraph (2), by striking ``$1,250'' and inserting
``$1,500''.
SEC. 218. REEMPLOYMENT TRADE ADJUSTMENT ASSISTANCE PROGRAM.
Section 246(a) of the Trade Act of 1974 (19 U.S.C. 2318(a))
is amended--
(1) in paragraph (3)(B)--
(A) in clause (ii), by striking ``$50,000'' and inserting
``$55,000''; and
(B) in clause (iii)(I), by striking ``and is not enrolled''
and inserting ``whether or not the worker is enrolled''; and
(2) in paragraph (5), by striking ``$10,000'' each place it
appears and inserting ``$12,000''.
Subtitle C--General Provisions
SEC. 221. APPLICABILITY OF TRADE ADJUSTMENT ASSISTANCE
PROVISIONS.
(a) Trade Adjustment Assistance for Workers.--
(1) Petitions filed on or after january 1, 2014, and before
date of enactment.--
(A) Certifications of workers not certified before date of
enactment.--
(i) Criteria if a determination has not been made.--If, as
of the date of the enactment of this Act, the Secretary of
Labor has not made a determination with respect to whether to
certify a group of workers as eligible to apply for
adjustment assistance under section 222 of the Trade Act of
1974 pursuant to a petition described in clause (iii), the
Secretary shall make that determination based on the
requirements of section 222 of the Trade Act of 1974, as in
effect on such date of enactment.
(ii) Reconsideration of denials of certifications.--If,
before the date of the enactment of this Act, the Secretary
made a determination not to certify a group of workers as
eligible to apply for adjustment assistance under section 222
of the Trade Act of 1974 pursuant to a petition described in
clause (iii), the Secretary shall--
(I) reconsider that determination; and
(II) if the group of workers meets the requirements of
section 222 of the Trade Act of 1974, as in effect on such
date of enactment, certify the group of workers as eligible
to apply for adjustment assistance.
(iii) Petition described.--A petition described in this
clause is a petition for a certification of eligibility for a
group of workers filed under section 221 of the Trade Act of
1974 on or after January 1, 2014, and before the date of the
enactment of this Act.
(B) Eligibility for benefits.--
(i) In general.--Except as provided in clause (ii), a
worker certified as eligible to apply for adjustment
assistance under section 222 of the Trade Act of 1974
pursuant to a petition described in subparagraph (A)(iii)
shall be eligible, on and after the date that is 90 days
after the date of the enactment of
[[Page S4350]]
this Act, to receive benefits only under the provisions of
chapter 2 of title II of the Trade Act of 1974, as in effect
on such date of enactment.
(ii) Computation of maximum benefits.--Benefits received by
a worker described in clause (i) under chapter 2 of title II
of the Trade Act of 1974 before the date of the enactment of
this Act shall be included in any determination of the
maximum benefits for which the worker is eligible under the
provisions of chapter 2 of title II of the Trade Act of 1974,
as in effect on the date of the enactment of this Act.
(2) Petitions filed before january 1, 2014.--A worker
certified as eligible to apply for adjustment assistance
pursuant to a petition filed under section 221 of the Trade
Act of 1974 on or before December 31, 2013, shall continue to
be eligible to apply for and receive benefits under the
provisions of chapter 2 of title II of such Act, as in effect
on December 31, 2013.
(3) Qualifying separations with respect to petitions filed
within 90 days of date of enactment.--Section 223(b) of the
Trade Act of 1974, as in effect on the date of the enactment
of this Act, shall be applied and administered by
substituting ``before January 1, 2014'' for ``more than one
year before the date of the petition on which such
certification was granted'' for purposes of determining
whether a worker is eligible to apply for adjustment
assistance pursuant to a petition filed under section 221 of
the Trade Act of 1974 on or after the date of the enactment
of this Act and on or before the date that is 90 days after
such date of enactment.
(b) Trade Adjustment Assistance for Firms.--
(1) Certification of firms not certified before date of
enactment.--
(A) Criteria if a determination has not been made.--If, as
of the date of the enactment of this Act, the Secretary of
Commerce has not made a determination with respect to whether
to certify a firm as eligible to apply for adjustment
assistance under section 251 of the Trade Act of 1974
pursuant to a petition described in subparagraph (C), the
Secretary shall make that determination based on the
requirements of section 251 of the Trade Act of 1974, as in
effect on such date of enactment.
(B) Reconsideration of denial of certain petitions.--If,
before the date of the enactment of this Act, the Secretary
made a determination not to certify a firm as eligible to
apply for adjustment assistance under section 251 of the
Trade Act of 1974 pursuant to a petition described in
subparagraph (C), the Secretary shall--
(i) reconsider that determination; and
(ii) if the firm meets the requirements of section 251 of
the Trade Act of 1974, as in effect on such date of
enactment, certify the firm as eligible to apply for
adjustment assistance.
(C) Petition described.--A petition described in this
subparagraph is a petition for a certification of eligibility
filed by a firm or its representative under section 251 of
the Trade Act of 1974 on or after January 1, 2014, and before
the date of the enactment of this Act.
(2) Certification of firms that did not submit petitions
between january 1, 2014, and date of enactment.--
(A) In general.--The Secretary of Commerce shall certify a
firm described in subparagraph (B) as eligible to apply for
adjustment assistance under section 251 of the Trade Act of
1974, as in effect on the date of the enactment of this Act,
if the firm or its representative files a petition for a
certification of eligibility under section 251 of the Trade
Act of 1974 not later than 90 days after such date of
enactment.
(B) Firm described.--A firm described in this subparagraph
is a firm that the Secretary determines would have been
certified as eligible to apply for adjustment assistance if--
(i) the firm or its representative had filed a petition for
a certification of eligibility under section 251 of the Trade
Act of 1974 on a date during the period beginning on January
1, 2014, and ending on the day before the date of the
enactment of this Act; and
(ii) the provisions of chapter 3 of title II of the Trade
Act of 1974, as in effect on such date of enactment, had been
in effect on that date during the period described in clause
(i).
SEC. 222. SUNSET PROVISIONS.
(a) Application of Prior Law.--Subject to subsection (b),
beginning on January 1, 2021, the provisions of chapters 2,
3, 5, and 6 of title II of the Trade Act of 1974 (19 U.S.C.
2271 et seq.), as in effect on January 1, 2014, shall be in
effect and apply, except that in applying and administering
such chapters--
(1) paragraph (1) of section 231(c) of that Act shall be
applied and administered as if subparagraphs (A), (B), and
(C) of that paragraph were not in effect;
(2) section 233 of that Act shall be applied and
administered--
(A) in subsection (a)--
(i) in paragraph (2), by substituting ``104-week period''
for ``104-week period'' and all that follows through ``130-
week period)''; and
(ii) in paragraph (3)--
(I) in the matter preceding subparagraph (A), by
substituting ``65'' for ``52''; and
(II) by substituting ``78-week period'' for ``52-week
period'' each place it appears; and
(B) by applying and administering subsection (g) as if it
read as follows:
``(g) Payment of Trade Readjustment Allowances To Complete
Training.--Notwithstanding any other provision of this
section, in order to assist an adversely affected worker to
complete training approved for the worker under section 236
that leads to the completion of a degree or industry-
recognized credential, payments may be made as trade
readjustment allowances for not more than 13 weeks within
such period of eligibility as the Secretary may prescribe to
account for a break in training or for justifiable cause that
follows the last week for which the worker is otherwise
entitled to a trade readjustment allowance under this chapter
if--
``(1) payment of the trade readjustment allowance for not
more than 13 weeks is necessary for the worker to complete
the training;
``(2) the worker participates in training in each such
week; and
``(3) the worker--
``(A) has substantially met the performance benchmarks
established as part of the training approved for the worker;
``(B) is expected to continue to make progress toward the
completion of the training; and
``(C) will complete the training during that period of
eligibility.'';
(3) section 234 shall be applied and administered as in
effect on December 31, 2013;
(4) section 245(a) of that Act shall be applied and
administered by substituting ``2021'' for ``2007'';
(5) section 246(b)(1) of that Act shall be applied and
administered by substituting ``December 31, 2021'' for ``the
date that is 5 years'' and all that follows through
``State'';
(6) section 256(b) of that Act shall be applied and
administered by substituting ``the 1-year period beginning on
January 1, 2021'' for ``each of fiscal years 2003 through
2007, and $4,000,000 for the 3-month period beginning on
October 1, 2007'';
(7) section 298(a) of that Act shall be applied and
administered by substituting ``the 1-year period beginning on
January 1, 2021'' for ``each of the fiscal years'' and all
that follows through ``October 1, 2007''; and
(8) section 285 of that Act shall be applied and
administered--
(A) in subsection (a), by substituting ``2021'' for
``2007'' each place it appears; and
(B) by applying and administering subsection (b) as if it
read as follows:
``(b) Other Assistance.--
``(1) Assistance for firms.--
``(A) In general.--Except as provided in subparagraph (B),
assistance may not be provided under chapter 3 after December
31, 2021.
``(B) Exception.--Notwithstanding subparagraph (A), any
assistance approved under chapter 3 pursuant to a petition
filed under section 251 on or before December 31, 2021, may
be provided--
``(i) to the extent funds are available pursuant to such
chapter for such purpose; and
``(ii) to the extent the recipient of the assistance is
otherwise eligible to receive such assistance.
``(2) Farmers.--
``(A) In general.--Except as provided in subparagraph (B),
assistance may not be provided under chapter 6 after December
31, 2021.
``(B) Exception.--Notwithstanding subparagraph (A), any
assistance approved under chapter 6 on or before December 31,
2021, may be provided--
``(i) to the extent funds are available pursuant to such
chapter for such purpose; and
``(ii) to the extent the recipient of the assistance is
otherwise eligible to receive such assistance.''.
(b) Exceptions.--The provisions of chapters 2, 3, 5, and 6
of title II of the Trade Act of 1974, as in effect on the
date of the enactment of this Act, shall continue to apply on
and after January 1, 2021, with respect to--
(1) workers certified as eligible for trade adjustment
assistance benefits under chapter 2 of title II of that Act
pursuant to petitions filed under section 221 of that Act
before January 1, 2021;
(2) firms certified as eligible for technical assistance or
grants under chapter 3 of title II of that Act pursuant to
petitions filed under section 251 of that Act before January
1, 2021; and
(3) agricultural commodity producers certified as eligible
for technical or financial assistance under chapter 6 of
title II of that Act pursuant to petitions filed under
section 292 of that Act before January 1, 2021.
Subtitle D--Health Coverage Tax Credit
SEC. 231. EXTENSION AND MODIFICATION OF HEALTH COVERAGE TAX
CREDIT.
(a) Extension.--Subparagraph (B) of section 35(b)(1) of the
Internal Revenue Code of 1986 is amended by striking ``before
January 1, 2014'' and inserting ``before January 1, 2021''.
(b) Increase.--Subsection (a) of section 35 of the Internal
Revenue Code of 1986 is amended by striking ``72.5 percent''
and inserting ``80 percent''.
(c) Coordination With PPACA Credit for Coverage Under a
Qualified Health Plan.--
(1) In general.--Subsection (a) of section 35 of the
Internal Revenue Code of 1986 is amended by striking ``In the
case of an individual,'' and inserting ``In the case of an
individual who elects the application of this section for the
taxable year,''.
(2) Coordination rule.--Subsection (g) of section 35 of
such Code is amended by redesignating paragraph (11) as
paragraph (12) and by inserting after paragraph (10) the
following:
``(11) Coordination with premium tax credit.--
[[Page S4351]]
``(A) In general.--In the case of a taxpayer who elects the
application of this section for any taxable year, no credit
shall be allowed under section 36B with respect to such
taxpayer for such taxable year.
``(B) Election.--Any election for this section to apply for
a taxable year, once made, shall be irrevocable.''.
(3) Advance payment.--Section 7527 of such Code is amended
by adding at the end the following new subsection:
``(f) Coordination With Advance Payment of Premium Tax
Credit.--No payment shall be made under this section on
behalf of any individual with respect to whom any advance
payment is made under section 1412 of the Patient Protection
and Affordable Care Act for the taxable year.''.
(4) Procedures.--The Secretary of the Treasury shall issue
such procedures and guidance as may be necessary or
appropriate to coordinate, and facilitate taxpayer choices
between, advance payments under section 7527 of the Internal
Revenue Code of 1986 and section 1412 of the Patient
Protection and Affordable Care Act.
(d) Health Plans Offered Through Exchange Treated as
Qualified Health Insurance.--Paragraph (1) of section 35(e)
of such Code is amended by adding at the end the following
new subparagraph:
``(L) Coverage under a qualified health plan which was
enrolled in through an Exchange established under title I of
the Patient Protection and Affordable Care Act.''.
(e) Effective Date.--
(1) In general.--The amendments made by this section shall
apply to coverage months beginning after December 31, 2013.
(2) Advance payment provisions.--The amendment made by
subsection (c)(3) shall apply to certificates issued after
the date of the enactment of this Act.
SEC. 232. TAA PRE-CERTIFICATION RULE FOR PURPOSES OF
DETERMINING WHETHER THERE IS A 63-DAY LAPSE IN
CREDITABLE COVERAGE.
(a) In General.--The following provisions are each amended
by striking ``January 1, 2014'' and inserting ``January 1,
2021'':
(1) Section 9801(c)(2)(D).
(2) Section 701(c)(2)(C) of the Employee Retirement Income
Security Act of 1974.
(3) Section 2701(c)(2)(C) of the Public Health Service Act
(as in effect for plan years beginning before January 1,
2014).
(4) Section 2704(c)(2)(C) of the Public Health Service Act
(as in effect for plan years beginning on or after January 1,
2014).
(b) Effective Date.--
(1) In general.--The amendments made by this section shall
apply to plan years beginning after December 31, 2013.
(2) Transitional rules.--
(A) Benefit determinations.--Notwithstanding the amendments
made by this section (and the provisions of law amended
thereby), a plan shall not be required to modify benefit
determinations for the period beginning on January 1, 2014,
and ending 30 days after the date of the enactment of this
Act, but a plan shall not fail to be qualified health
insurance within the meaning of section 35(e) of the Internal
Revenue Code of 1986 during this period merely due to such
failure to modify benefit determinations.
(B) Guidance concerning periods before 30 days after
enactment.--Except as provided in subparagraph (A), the
Secretary of the Treasury (or his designee), in consultation
with the Secretary of Health and Human Services and the
Secretary of Labor, may issue regulations or other guidance
regarding the scope of the application of the amendments made
by this section to periods before the date which is 30 days
after the date of the enactment of this Act.
(C) Special rule relating to certain loss of coverage.--In
the case of a TAA-related loss of coverage (as defined in
section 4980B(f)(5)(C)(iv) of the Internal Revenue Code of
1986) that occurs during the period beginning on January 1,
2014, and ending 30 days after the date of the enactment of
this Act, the 7-day period described in section 9801(c)(2)(D)
of the Internal Revenue Code of 1986, section 701(c)(2)(C) of
the Employee Retirement Income Security Act of 1974, and
section 2701(c)(2)(C) of the Public Health Service Act shall
be extended until 30 days after such date of enactment.
SEC. 233. EXTENSION OF COBRA BENEFITS FOR CERTAIN TAA-
ELIGIBLE INDIVIDUALS AND PBGC RECIPIENTS.
(a) In General.--The following provisions are each amended
by striking ``January 1, 2014'' and inserting ``January 1,
2021'':
(1) Section 4980B(f)(2)(B)(i)(V).
(2) Section 4980B(f)(2)(B)(i)(VI).
(3) Section 602(2)(A)(v) of the Employee Retirement Income
Security Act of 1974.
(4) Section 602(2)(A)(vi) of such Act.
(5) Section 2202(2)(A)(iv) of the Public Health Service
Act.
(b) Effective Date.--The amendments made by this section
shall apply to periods of coverage which would (without
regard to the amendments made by this section) end on or
after the date which is 30 days after the date of the
enactment of this Act.
Subtitle E--Offsets
SEC. 241. ADDITIONAL CUSTOMS USER FEES EXTENSION.
(a) In General.--Section 13031(j)(3) of the Consolidated
Omnibus Budget Reconciliation Act of 1985 (19 U.S.C.
58c(j)(3)) is amended--
(1) in subparagraph (B)(i), by striking ``September 30,
2024'' and inserting ``September 30, 2025''; and
(2) by adding at the end the following:
``(D) Fees may be charged under paragraphs (9) and (10) of
subsection (a) during the period beginning on July 29, 2025,
and ending on September 30, 2025.''.
(b) Rate for Merchandise Processing Fees.--Section 503 of
the United States-Korea Free Trade Agreement Implementation
Act (Public Law 112-41; 125 Stat. 460) is amended by adding
at the end the following:
``(c) Further Additional Period.--For the period beginning
on July 15, 2025, and ending on September 30, 2025, section
13031(a)(9) of the Consolidated Omnibus Budget Reconciliation
Act of 1985 (19 U.S.C. 58c(a)(9)) shall be applied and
administered--
``(1) in subparagraph (A), by substituting `0.3464' for
`0.21'; and
``(2) in subparagraph (B)(i), by substituting `0.3464' for
`0.21'.''.
SEC. 242. TIME FOR PAYMENT OF CORPORATE ESTIMATED TAXES.
Notwithstanding section 6655 of the Internal Revenue Code
of 1986, in the case of a corporation with assets of not less
than $1,000,000,000 (determined as of the end of the
preceding taxable year)--
(1) the amount of any required installment of corporate
estimated tax which is otherwise due in July, August, or
September of 2020 shall be increased by 8 percent of such
amount (determined without regard to any increase in such
amount not contained in such Code); and
(2) the amount of the next required installment after an
installment referred to in paragraph (1) shall be
appropriately reduced to reflect the amount of the increase
by reason of such paragraph.
SEC. 243. PAYEE STATEMENT REQUIRED TO CLAIM CERTAIN EDUCATION
TAX BENEFITS.
(a) American Opportunity Credit, Hope Scholarship Credit,
and Lifetime Learning Credit.--
(1) In general.--Section 25A(g) of the Internal Revenue
Code of 1986 is amended by adding at the end the following
new paragraph:
``(8) Payee statement requirement.--Except as otherwise
provided by the Secretary, no credit shall be allowed under
this section unless the taxpayer receives a statement
furnished under section 6050S(d) which contains all of the
information required by paragraph (2) thereof.''.
(2) Statement received by dependent.--Section 25A(g)(3) of
such Code is amended by striking ``and'' at the end of
subparagraph (A), by striking the period at the end of
subparagraph (B) and inserting ``, and'', and by adding at
the end the following:
``(C) a statement described in paragraph (8) and received
by such individual shall be treated as received by the
taxpayer.''.
(b) Deduction for Qualified Tuition and Related Expenses.--
Section 222(d) of such Code is amended by redesignating
paragraph (6) as paragraph (7), and by inserting after
paragraph (5) the following new paragraph:
``(6) Payee statement requirement.--
``(A) In general.--Except as otherwise provided by the
Secretary, no deduction shall be allowed under subsection (a)
unless the taxpayer receives a statement furnished under
section 6050S(d) which contains all of the information
required by paragraph (2) thereof.
``(B) Statement received by dependent.--The receipt of the
statement referred to in subparagraph (A) by an individual
described in subsection (c)(3) shall be treated for purposes
of subparagraph (A) as received by the taxpayer.''.
(c) Information Required To Be Provided on Payee
Statement.--Section 6050S(d)(2) of such Code is amended to
read as follows:
``(2) the information required by subsection (b)(2).''.
(d) Effective Date.--The amendments made by this section
shall apply to taxable years beginning after the date of the
enactment of this Act.
SEC. 244. SPECIAL RULE FOR EDUCATIONAL INSTITUTIONS UNABLE TO
COLLECT TINS OF INDIVIDUALS WITH RESPECT TO
HIGHER EDUCATION TUITION AND RELATED EXPENSES.
(a) In General.--Section 6724 of the Internal Revenue Code
of 1986 is amended by adding at the end the following new
subsection:
``(f) Special Rule for Returns of Educational Institutions
Related to Higher Education Tuition and Related Expenses.--No
penalty shall be imposed under section 6721 or 6722 solely by
reason of failing to provide the TIN of an individual on a
return or statement required by section 6050S(a)(1) if the
eligible educational institution required to make such return
contemporaneously makes a true and accurate certification
under penalty of perjury (and in such form and manner as may
be prescribed by the Secretary) that it has complied with
standards promulgated by the Secretary for obtaining such
individual's TIN.''.
(b) Effective Date.--The amendments made by this section
shall apply to returns required to be made, and statements
required to be furnished, after December 31, 2015.
SEC. 245. PENALTY FOR FAILURE TO FILE CORRECT INFORMATION
RETURNS AND PROVIDE PAYEE STATEMENTS.
(a) In General.--Section 6721(a)(1) of the Internal Revenue
Code of 1986 is amended--
(1) by striking ``$100'' and inserting ``$250''; and
(2) by striking ``$1,500,000'' and inserting
``$3,000,000''.
(b) Reduction Where Correction in Specified Period.--
(1) Correction within 30 days.--Section 6721(b)(1) of such
Code is amended--
(A) by striking ``$30'' and inserting ``$50'';
(B) by striking ``$100'' and inserting ``$250''; and
[[Page S4352]]
(C) by striking ``$250,000'' and inserting ``$500,000''.
(2) Failures corrected on or before august 1.--Section
6721(b)(2) of such Code is amended--
(A) by striking ``$60'' and inserting ``$100'';
(B) by striking ``$100'' (prior to amendment by
subparagraph (A)) and inserting ``$250''; and
(C) by striking ``$500,000'' and inserting ``$1,500,000''.
(c) Lower Limitation for Persons With Gross Receipts of Not
More Than $5,000,000.--Section 6721(d)(1) of such Code is
amended--
(1) in subparagraph (A)--
(A) by striking ``$500,000'' and inserting ``$1,000,000'';
and
(B) by striking ``$1,500,000'' and inserting
``$3,000,000'';
(2) in subparagraph (B)--
(A) by striking ``$75,000'' and inserting ``$175,000''; and
(B) by striking ``$250,000'' and inserting ``$500,000'';
and
(3) in subparagraph (C)--
(A) by striking ``$200,000'' and inserting ``$500,000'';
and
(B) by striking ``$500,000'' (prior to amendment by
subparagraph (A)) and inserting ``$1,500,000''.
(d) Penalty in Case of Intentional Disregard.--Section
6721(e) of such Code is amended--
(1) by striking ``$250'' in paragraph (2) and inserting
``$500''; and
(2) by striking ``$1,500,000'' in paragraph (3)(A) and
inserting ``$3,000,000''.
(e) Failure To Furnish Correct Payee Statements.--
(1) In general.--Section 6722(a)(1) of such Code is
amended--
(A) by striking ``$100'' and inserting ``$250''; and
(B) by striking ``$1,500,000'' and inserting
``$3,000,000''.
(2) Reduction where correction in specified period.--
(A) Correction within 30 days.--Section 6722(b)(1) of such
Code is amended--
(i) by striking ``$30'' and inserting ``$50'';
(ii) by striking ``$100'' and inserting ``$250''; and
(iii) by striking ``$250,000'' and inserting ``$500,000''.
(B) Failures corrected on or before august 1.--Section
6722(b)(2) of such Code is amended--
(i) by striking ``$60'' and inserting ``$100'';
(ii) by striking ``$100'' (prior to amendment by clause
(i)) and inserting ``$250''; and
(iii) by striking ``$500,000'' and inserting
``$1,500,000''.
(3) Lower limitation for persons with gross receipts of not
more than $5,000,000.--Section 6722(d)(1) of such Code is
amended--
(A) in subparagraph (A)--
(i) by striking ``$500,000'' and inserting ``$1,000,000'';
and
(ii) by striking ``$1,500,000'' and inserting
``$3,000,000'';
(B) in subparagraph (B)--
(i) by striking ``$75,000'' and inserting ``$175,000''; and
(ii) by striking ``$250,000'' and inserting ``$500,000'';
and
(C) in subparagraph (C)--
(i) by striking ``$200,000'' and inserting ``$500,000'';
and
(ii) by striking ``$500,000'' (prior to amendment by
subparagraph (A)) and inserting ``$1,500,000''.
(4) Penalty in case of intentional disregard.--Section
6722(e) of such Code is amended--
(A) by striking ``$250'' in paragraph (2) and inserting
``$500''; and
(B) by striking ``$1,500,000'' in paragraph (3)(A) and
inserting ``$3,000,000''.
(f) Effective Date.--The amendments made by this section
shall apply with respect to returns and statements required
to be filed after December 31, 2015.
SEC. 246. CHILD TAX CREDIT NOT REFUNDABLE FOR TAXPAYERS
ELECTING TO EXCLUDE FOREIGN EARNED INCOME FROM
TAX.
(a) In General.--Section 24(d) of the Internal Revenue Code
of 1986 is amended by adding at the end the following new
paragraph:
``(5) Exception for taxpayers excluding foreign earned
income.--Paragraph (1) shall not apply to any taxpayer for
any taxable year if such taxpayer elects to exclude any
amount from gross income under section 911 for such taxable
year.''.
(b) Effective Date.--The amendment made by this section
shall apply to taxable years beginning after December 31,
2014.
SEC. 247. COVERAGE AND PAYMENT FOR RENAL DIALYSIS SERVICES
FOR INDIVIDUALS WITH ACUTE KIDNEY INJURY.
(a) Coverage.--Section 1861(s)(2)(F) of the Social Security
Act (42 U.S.C. 1395x(s)(2)(F)) is amended by inserting before
the semicolon the following: ``, including such renal
dialysis services furnished on or after January 1, 2017, by a
renal dialysis facility or provider of services paid under
section 1881(b)(14) to an individual with acute kidney injury
(as defined in section 1834(r)(2))''.
(b) Payment.--Section 1834 of the Social Security Act (42
U.S.C. 1395m) is amended by adding at the end the following
new subsection:
``(r) Payment for Renal Dialysis Services for Individuals
With Acute Kidney Injury.--
``(1) Payment rate.--In the case of renal dialysis services
(as defined in subparagraph (B) of section 1881(b)(14))
furnished under this part by a renal dialysis facility or
provider of services paid under such section during a year
(beginning with 2017) to an individual with acute kidney
injury (as defined in paragraph (2)), the amount of payment
under this part for such services shall be the base rate for
renal dialysis services determined for such year under such
section, as adjusted by any applicable geographic adjustment
factor applied under subparagraph (D)(iv)(II) of such section
and may be adjusted by the Secretary (on a budget neutral
basis for payments under this paragraph) by any other
adjustment factor under subparagraph (D) of such section.
``(2) Individual with acute kidney injury defined.--In this
subsection, the term `individual with acute kidney injury'
means an individual who has acute loss of renal function and
does not receive renal dialysis services for which payment is
made under section 1881(b)(14).''.
SEC. 248. CLARIFICATION OF 6-YEAR STATUTE OF LIMITATIONS IN
CASE OF OVERSTATEMENT OF BASIS.
(a) In General.--Subparagraph (B) of Section 6501(e)(1) of
the Internal Revenue Code of 1986 is amended--
(1) by striking ``and'' at the end of clause (i), by
redesignating clause (ii) as clause (iii), and by inserting
after clause (i) the following new clause:
``(ii) An understatement of gross income by reason of an
overstatement of unrecovered cost or other basis is an
omission from gross income;'';
(2) by inserting ``(other than in the case of an
overstatement of unrecovered cost or other basis)'' in clause
(iii) (as so redesignated) after ``In determining the amount
omitted from gross income''; and
(3) by inserting ``AMOUNT OMITTED FROM'' after
``DETERMINATION OF'' in the heading thereof.
(b) Effective Date.--The amendments made by subsection (a)
shall apply to--
(1) returns filed after the date of the enactment of this
Act; and
(2) returns filed on or before such date if the period
specified in section 6501 of the Internal Revenue Code of
1986 (determined without regard to such amendments for
assessment of the taxes with respect to which such return
relates has not expired as of such date.
______