H.R. 1143 (Introduced in House) — To amend the Internal Revenue Code of 1986 to extend the credit for health insurance costs of certain Pension Benefit Guaranty Corporation pension recipients.

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.

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

Section 1 Extension of health insurance cost credit for certain PBGC pension recipients

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