Page:United States Statutes at Large Volume 124.djvu/245

 124 STAT. 219 PUBLIC LAW 111–148—MAR. 23, 2010 of this subsection. Such rules shall be designed to ensure that the least burden is placed on individuals enrolling in qualified health plans through an Exchange and taxpayers eligible for the credit allowable under this section. ‘‘(f) RECONCILIATION OF CREDIT AND ADVANCE CREDIT.— ‘‘(1) IN GENERAL.—The amount of the credit allowed under this section for any taxable year shall be reduced (but not below zero) by the amount of any advance payment of such credit under section 1412 of the Patient Protection and Afford- able Care Act. ‘‘(2) EXCESS ADVANCE PAYMENTS.— ‘‘(A) IN GENERAL.—If the advance payments to a tax- payer under section 1412 of the Patient Protection and Affordable Care Act for a taxable year exceed the credit allowed by this section (determined without regard to para- graph (1)), the tax imposed by this chapter for the taxable year shall be increased by the amount of such excess. ‘‘(B) LIMITATION ON INCREASE WHERE INCOME LESS THAN 400 PERCENT OF POVERTY LINE.— ‘‘(i) IN GENERAL.—In the case of an applicable tax- payer whose household income is less than 400 percent of the poverty line for the size of the family involved for the taxable year, the amount of the increase under subparagraph (A) shall in no event exceed $400 ($250 in the case of a taxpayer whose tax is determined under section 1(c) for the taxable year). ‘‘(ii) INDEXING OF AMOUNT.—In the case of any calendar year beginning after 2014, each of the dollar amounts under clause (i) shall be increased by an amount equal to— ‘‘(I) such dollar amount, multiplied by ‘‘(II) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year, deter- mined by substituting ‘calendar year 2013’ for ‘cal- endar year 1992’ in subparagraph (B) thereof. If the amount of any increase under clause (i) is not a multiple of $50, such increase shall be rounded to the next lowest multiple of $50. ‘‘(g) REGULATIONS.—The Secretary shall prescribe such regula- tions as may be necessary to carry out the provisions of this section, including regulations which provide for— ‘‘(1) the coordination of the credit allowed under this section with the program for advance payment of the credit under section 1412 of the Patient Protection and Affordable Care Act, and ‘‘(2) the application of subsection (f) where the filing status of the taxpayer for a taxable year is different from such status used for determining the advance payment of the credit.’’. (b) DISALLOWANCE OF DEDUCTION.—Section 280C of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection: ‘‘(g) CREDIT FOR HEALTH INSURANCE PREMIUMS.—No deduction shall be allowed for the portion of the premiums paid by the taxpayer for coverage of 1 or more individuals under a qualified health plan which is equal to the amount of the credit determined for the taxable year under section 36B(a) with respect to such premiums.’’. 26 USC 280C.