S. 2529 - Advancing Youth Enrollment Act

115TH CONGRESS
2D SESSION

S. 2529

To amend the Internal Revenue Code of 1986 to reduce the applicable percentage
under the premium assistance tax credit for households with young adults.

IN THE SENATE OF THE UNITED STATES

MARCH 8, 2018

Ms. BALDWIN (for herself, Mrs. GILLIBRAND, Ms. WARREN,
and Mr. SANDERS) introduced the following bill; which was
read twice and referred to the Committee on Finance

A BILL

To amend the Internal Revenue Code of 1986 to reduce the applicable percentage under the premium assistance tax credit for households with young adults.

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 "Advancing Youth Enrollment Act".

SEC. 2. REDUCTION OF APPLICABLE PERCENTAGE FOR CERTAIN TAXPAYERS.

(a) IN GENERAL. — Paragraph (3) of section 36B(b) of the Internal Revenue Code of 1986 is amended by adding at the end the following:

"(F) REDUCTION OF APPLICABLE PERCENTAGE FOR CERTAIN TAXPAYERS. —

"(i) IN GENERAL. — The initial and final applicable percentages under clause (i) of subparagraph (A) (after application of clause (ii) of such subparagraph) shall each be reduced (but not below zero) by —

"(I) in the case of an applicable taxpayer with an eligible household member who has not attained 31 years of age as of the close of the taxable year, an amount equal to the applicable percentage of 2.5 percentage points, and

"(II) in the case of an applicable taxpayer with an eligible household member who has attained at least 31 years of age as of the close of the taxable year, an amount equal to the applicable percentage of —

"(aa) 2.5 percentage points, minus

"(bb) the amount equal to the product of 0.5 percentage points multiplied by the number of years of age of such eligible household member as of the close of the taxable year in excess of 30.

"(ii) APPLICABLE PERCENTAGE. — For purposes of clause (i), the applicable percentage shall be the amount (expressed as a percentage) equal to the quotient of —

"(I) the total number of individuals who —

"(aa) are taken into account in determining the applicable taxpayer's family size under subsection (d)(1) and are covered under the qualified health plan, and

"(bb) have not attained 35 years of age as of the close of the taxable year, and

"(II) the total number of individuals who are described in item (aa) of subclause (I).

"(iii) ELIGIBLE HOUSEHOLD MEMBER. — For purposes of this subparagraph, the term 'eligible household member' means the youngest individual who —

"(I) is taken into account in determining the applicable taxpayer's family size under subsection (d)(1) and is covered under the qualified health plan, and

"(II) has attained 18 years of age but not attained 35 years of age as of the close of the taxable year.

"(iv) ROUNDING. — Any reduction determined under clause (i) shall be rounded to the nearest 1/10th of 1 percentage point.".

(b) EFFECTIVE DATE. — The amendment made by this section shall apply to taxable years beginning after the date of the enactment of this Act.