Section 1 Short title
This Act may be cited as the “Territory Health Insurance Tax Relief Act of 2017”.
Territory Health Insurance Tax Relief Act of 2017
A BILL
To exempt health insurance of residents of United States territories from the annual fee on health insurance providers.
Sec. 2 Health insurance of residents of United States territories exempt from annual fee on health insurance providers
In general— Section 9010(b) of the Patient Protection and Affordable Care Act (26 U.S.C. subtitle D front matter note) is amended by adding at the end the following new paragraph:
“(4) Exception for health insurance of residents of United States territories
“(A) In general—Solely for purposes of paragraph (1)(A), the term “United States health risk” shall not include the health risk of any individual who is a bona fide resident of Guam, American Samoa, the Northern Mariana Islands, Puerto Rico, or the Virgin Islands (as determined under section 937(a)).
“(B) Exception not to increase fee allocation—The amount determined under paragraph (1)(B) shall be determined without regard to subparagraph (A) of this paragraph.”
Reporting— Section 9010(g)(1) of the Patient Protection and Affordable Care Act (26 U.S.C. subtitle D front matter note) is amended by inserting “(and the amount of such net premiums to which subsection (b)(4)(A) applies)” before the period at the end.
Effective date—
In general— The amendments made by this section shall apply to calendar years beginning after the date of the enactment of this Act.
Transitional rule for reporting— For purposes of applying the amendment made by subsection (a) with respect to the first calendar year beginning after the date of the enactment of this Act, the Secretary of the Treasury (or the Secretary’s designee) shall provide a method for covered entities to report the information described in the amendment made by subsection (b) for the calendar year which precedes such first calendar year.