[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3912 Introduced in House (IH)]

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118th CONGRESS
  1st Session
                                H. R. 3912

To amend the Internal Revenue Code of 1986 to make the health coverage 
                         tax credit permanent.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              June 7, 2023

 Mr. Kildee (for himself, Mr. Blumenauer, Ms. Slotkin, Ms. Sewell, Ms. 
Moore of Wisconsin, and Mr. Evans) 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 make the health coverage 
                         tax credit permanent.

    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 ``Bob von Schwedler Permanent Health 
Coverage Tax Credit Expansion Act''.

SEC. 2. PERMANENT CREDIT FOR HEALTH INSURANCE COSTS.

    (a) In General.--Section 35(b)(1) of the Internal Revenue Code of 
1986 is amended to read as follows:
            ``(1) In general.--The term `eligible coverage month' means 
        any month if, as of the first day of such month, the taxpayer--
                    ``(A) is an eligible individual,
                    ``(B) is covered by qualified health insurance, the 
                premium for which is paid by the taxpayer,
                    ``(C) does not have other specified coverage, and
                    ``(D) is not imprisoned under Federal, State, or 
                local authority.''.
    (b) Increase in Credit Percentage.--Section 35(a) of such Code is 
amended by striking ``72.5 percent'' and inserting ``80 percent''.
    (c) Conforming Amendments.--
            (1) Section 35(e)(2)(B)(i) of such Code is amended by 
        striking ``clauses (iii) and (iv) of subsection (b)(1)(A)'' and 
        inserting ``subparagraphs (C) and (D) of subsection (b)(1)''.
            (2) Subsections (b) and (e)(1) of section 7527 of such Code 
        are each amended by striking ``72.5 percent'' and inserting 
        ``80 percent''.
    (d) Effective Date.--
            (1) In general.--The amendments made by this section shall 
        apply to coverage months beginning after December 31, 2021.
            (2) Transition rule.--Notwithstanding section 
        35(g)(11)(B)(i) of such Code, an election to apply section 35 
        of such Code to an eligible coverage month (as defined in 
        section 35(b) of such Code) beginning after December 31, 2021, 
        and before the beginning of the first taxable year beginning 
        after the date of the enactment of this Act--
                    (A) may be made at any time on or after such date 
                of enactment and before the later of--
                            (i) the expiration of the 3-year period of 
                        limitation prescribed in section 6511(a) of 
                        such Code with respect to the taxable year for 
                        such coverage month, or
                            (ii) any date specified in guidance issued 
                        by the Secretary, and
                    (B) may be made on an amended return.
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