Page:United States Statutes at Large Volume 117.djvu/2384

 PUBLIC LAW 108–173—DEC. 8, 2003

117 STAT. 2365

‘‘(A) except as provided in subparagraph (B), $80,000, and ‘‘(B) in the case of a joint return, twice the amount applicable under subparagraph (A) for the calendar year. ‘‘(3) MONTHLY ADJUSTMENT AMOUNT.— ‘‘(A) IN GENERAL.—Subject to subparagraph (B), the monthly adjustment amount specified in this paragraph for an individual for a month in a year is equal to the product of the following: ‘‘(i) SLIDING SCALE PERCENTAGE.—The applicable percentage specified in the table in subparagraph (C) for the individual minus 25 percentage points. ‘‘(ii) UNSUBSIDIZED PART B PREMIUM AMOUNT.—200 percent of the monthly actuarial rate for enrollees age 65 and over (as determined under subsection (a)(1) for the year). ‘‘(B) 5-YEAR PHASE IN.—The monthly adjustment amount specified in this paragraph for an individual for a month in a year before 2011 is equal to the following percentage of the monthly adjustment amount specified in subparagraph (A): ‘‘(i) For 2007, 20 percent. ‘‘(ii) For 2008, 40 percent. ‘‘(iii) For 2009, 60 percent. ‘‘(iv) for 2010, 80 percent. ‘‘(C) APPLICABLE PERCENTAGE.— ‘‘(i) IN GENERAL.— ‘‘If the modified adjusted gross income is: More More More More

than than than than

The applicable percentage is: $80,000 but not more than $100,000 ........................... 35 percent $100,000 but not more than $150,000 ......................... 50 percent $150,000 but not more than $200,000 ......................... 65 percent $200,000 ......................................................................... 80 percent.

‘‘(ii) JOINT RETURNS.—In the case of a joint return, clause (i) shall be applied by substituting dollar amounts which are twice the dollar amounts otherwise applicable under clause (i) for the calendar year. ‘‘(iii) MARRIED INDIVIDUALS FILING SEPARATE RETURNS.—In the case of an individual who— ‘‘(I) is married as of the close of the taxable year (within the meaning of section 7703 of the Internal Revenue Code of 1986) but does not file a joint return for such year, and ‘‘(II) does not live apart from such individual’s spouse at all times during the taxable year, clause (i) shall be applied by reducing each of the dollar amounts otherwise applicable under such clause for the calendar year by the threshold amount for such year applicable to an unmarried individual. ‘‘(4) MODIFIED ADJUSTED GROSS INCOME.— ‘‘(A) IN GENERAL.—For purposes of this subsection, the term ‘modified adjusted gross income’ means adjusted gross income (as defined in section 62 of the Internal Revenue Code of 1986)— ‘‘(i) determined without regard to sections 135, 911, 931, and 933 of such Code; and

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