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S. Rept. 114-16 1 (2015-04-14)

handle is hein.congrecreports/crptxsdd0001 and id is 1 raw text is: AUT-ENTICATED US. GOVERNMENT INFORMATION GP Calendar No. 39 114TH CONGRESS REPORT 1st Session SENATE 114-16 A BILL TO AMEND THE INTERNAL REVENUE CODE OF 1986 TO INCREASE THE LIMITATION ON ELIGIBILITY FOR THE ALTERNATIVE TAX FOR CER- TAIN SMALL INSURANCE COMPANIES APRIL 14, 2015.-Ordered to be printed Mr. HATCH, from the Committee on Finance, submitted the following REPORT [To accompany S. 905] The Committee on Finance, having considered an original bill, S. 905, to amend the Internal Revenue Code of 1986 to increase the limitation on eligibility for the alternative tax for certain small in- surance companies, having considered the same, reports favorably thereon without amendment and recommends that the bill do pass. CONTENTS Page I. LEGISLATIVE BACKGROUND .................................................................... . 1 II. EXPLANATION OF THE BILL ...................................................................... 2 A. Modification to Alternative Tax for Certain Small Insurance Com- panies (sec. 1 of the bill and sec. 831(b) of the Code) .................... 2 B. Increase Continuous Levy Authority on Payments to Medicare Providers and Suppliers (sec. 2 of the bill and sec. 6331 of th e C ode) ............................................................................................. 3 III. BUDGET EFFECTS OF THE BILL ............................................................. 5 IV. VOTES OF THE COMM ITTEE ..................................................................... 7 V. REGULATORY IMPACT AND OTHER MATTERS .................................... 7 VI. CHANGES IN EXISTING LAW MADE BY THE BILL, AS REPORTED 8 I. LEGISLATIVE BACKGROUND The Committee on Finance, having considered S. 905, a bill to amend the Internal Revenue Code of 1986 to increase the limita- tion on eligibility for the alternative tax for certain small insurance companies, reports favorably thereon without amendment and rec- ommends that the bill do pass. Background and need for legislative action Background.-Based on a proposal recommended by Senator Grassley, the Senate Committee on Finance marked up original 49-010

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