Internal Revenue Code:Sec. 7527. Advance payment of credit for health insurance costs of eligible individuals

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Contents


Location in Internal Revenue Code


TITLE 26 - INTERNAL REVENUE CODE
      Subtitle F - Procedure and Administration
       CHAPTER 77 - MISCELLANEOUS PROVISIONS

Statute

  Sec. 7527. Advance payment of credit for health insurance costs of eligible
  individuals

    (a) General <<NOTE: Deadline.>> Rule.--Not later than August 1, 
     2003, the Secretary shall establish a program for making payments on 
     behalf of certified individuals to providers of qualified health 
     insurance (as defined in section 35(e)) for such individuals.

    (b) Limitation on Advance Payments During any Taxable Year.--The 
     Secretary may make payments under subsection (a) only to the extent that 
     the total amount of such payments made on behalf of any individual 
     during the taxable year does not exceed 65 percent of the amount paid by 
     the taxpayer for coverage of the taxpayer and qualifying family members 
     under qualified health insurance for eligible coverage months beginning 
     in the taxable year.
    (c) Certified Individual.--For purposes of this section, the term 
     `certified individual' means any individual for whom a qualified health 
     insurance costs credit eligibility certificate is in effect.
    (d) Qualified Health Insurance Costs Credit Eligibility 
     Certificate.--For purposes of this section, the term `qualified health 
     insurance costs credit eligibility certificate' means any written 
     statement that an individual is an eligible individual (as defined in 
     section 35(c)) if such statement provides such information as the 
     Secretary may require for purposes of this section and--
       (1) in the case of an eligible TAA recipient (as defined 
        in section 35(c)(2)) or an eligible alternative TAA recipient 
        (as defined in section 35(c)(3)), is certified by the Secretary 
        of Labor (or by any other person or entity designated by the 
        Secretary), or
       (2) in the case of an eligible PBGC pension recipient (as 
        defined in section 35(c)(4)), is certified by the Pension 
        Benefit Guaranty Corporation (or by any other person or entity 
        designated by the Secretary).

Amendments to Section

                    AMENDMENTS
    2004 - Pub. L. 107-210, Sec. 202(a), amended by adding this
    new Section 7527.

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