[United States Statutes at Large, Volume 125, 112th Congress, 1st Session]
[From the U.S. Government Publishing Office, www.gpo.gov]


Public Law 112-9
112th Congress

An Act


 
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 ``Comprehensive 1099 Taxpayer
Protection and Repayment of Exchange Subsidy Overpayments Act of 2011''.
SEC. 2. REPEAL OF EXPANSION OF INFORMATION REPORTING REQUIREMENTS
TO PAYMENTS MADE TO CORPORATIONS AND TO
PAYMENTS FOR PROPERTY AND OTHER GROSS
PROCEEDS.

(a) Application to Corporations.--Section 6041 of the Internal
Revenue Code of 1986 <>  is amended by striking
subsections (i) and (j).

(b) Payments for Property and Other Gross Proceeds.--Subsection (a)
of section 6041 of such Code is amended--
(1) by striking ``amounts in consideration for property,'',
and
(2) by striking ``gross proceeds,'' both places it appears.

(c) <>  Effective Date.--The amendments
made by this section shall apply to payments made after December 31,
2011.
SEC. 3. REPEAL OF EXPANSION OF INFORMATION REPORTING REQUIREMENTS
FOR RENTAL PROPERTY EXPENSE PAYMENTS.

(a) In General.--Section 6041 of the Internal Revenue Code of 1986
is amended by striking subsection (h).
(b) <>  Effective Date.--The amendment made
by this section shall apply to payments made after December 31, 2010.
SEC. 4. INCREASE IN AMOUNT OF OVERPAYMENT OF HEALTH CARE CREDIT
WHICH IS SUBJECT TO RECAPTURE.

(a) In General.--Clause (i) of section 36B(f)(2)(B) of the Internal
Revenue Code of 1986 <>  is amended to read as
follows:
``(i) In general.--In the case of a taxpayer
whose household income is less than 400 percent of
the poverty line for the size of the family
involved for the taxable year, the amount of the
increase under subparagraph (A) shall in no event
exceed the applicable dollar amount determined in
accordance with the following table (one-half of
such amount in

[[Page 37]]

the case of a taxpayer whose tax is determined
under section 1(c) for the taxable year):


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``If the household income (expressed as a
percent of poverty line) is:                           The applicable dollar amount is:
----------------------------------------------------------------------------------------------------------------
Less than 200%...............................  $600
At least 200% but less than 300%.............  $1,500
At least 300% but less than 400%.............  $2,500.''.
----------------------------------------------------------------------------------------------------------------


(b) <>  Effective Date.--The amendment made
by this section shall apply to taxable years ending after December 31,
2013.

Approved April 14, 2011.

LEGISLATIVE HISTORY--H.R. 4:
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HOUSE REPORTS: No. 112-15 (Comm. on Ways and Means).
CONGRESSIONAL RECORD, Vol. 157 (2011):
Mar. 3, considered and passed House.
Apr. 5, considered and passed Senate.
DAILY COMPILATION OF PRESIDENTIAL DOCUMENTS (2011):
Apr. 14, Presidential statement.