Page:United States Statutes at Large Volume 124.djvu/270

 124 STAT. 244 PUBLIC LAW 111–148—MAR. 23, 2010 markets. By significantly increasing health insurance cov- erage and the size of purchasing pools, which will increase economies of scale, the requirement, together with the other provisions of this Act, will significantly reduce administra- tive costs and lower health insurance premiums. The requirement is essential to creating effective health insur- ance markets that do not require underwriting and elimi- nate its associated administrative costs. (3) SUPREME COURT RULING.—In United States v. South- Eastern Underwriters Association (322 U.S. 533 (1944)), the Supreme Court of the United States ruled that insurance is interstate commerce subject to Federal regulation. (b) IN GENERAL.—Subtitle D of the Internal Revenue Code of 1986 is amended by adding at the end the following new chapter: ‘‘CHAPTER 48—MAINTENANCE OF MINIMUM ESSENTIAL COVERAGE ‘‘Sec. 5000A. Requirement to maintain minimum essential coverage. ‘‘SEC. 5000A. REQUIREMENT TO MAINTAIN MINIMUM ESSENTIAL COV- ERAGE. ‘‘(a) REQUIREMENT TO MAINTAIN MINIMUM ESSENTIAL COV- ERAGE.—An applicable individual shall for each month beginning after 2013 ensure that the individual, and any dependent of the individual who is an applicable individual, is covered under min- imum essential coverage for such month. ‘‘(b) SHARED RESPONSIBILITY PAYMENT.— ‘‘(1) IN GENERAL.—If an applicable individual fails to meet the requirement of subsection (a) for 1 or more months during any calendar year beginning after 2013, then, except as pro- vided in subsection (d), there is hereby imposed a penalty with respect to the individual in the amount determined under subsection (c). ‘‘(2) INCLUSION WITH RETURN.—Any penalty imposed by this section with respect to any month shall be included with a taxpayer’s return under chapter 1 for the taxable year which includes such month. ‘‘(3) PAYMENT OF PENALTY.—If an individual with respect to whom a penalty is imposed by this section for any month— ‘‘(A) is a dependent (as defined in section 152) of another taxpayer for the other taxpayer’s taxable year including such month, such other taxpayer shall be liable for such penalty, or ‘‘(B) files a joint return for the taxable year including such month, such individual and the spouse of such indi- vidual shall be jointly liable for such penalty. ‘‘(c) AMOUNT OF PENALTY.— ‘‘(1) IN GENERAL.—The penalty determined under this sub- section for any month with respect to any individual is an amount equal to 1⁄12 of the applicable dollar amount for the calendar year. ‘‘(2) DOLLAR LIMITATION.—The amount of the penalty imposed by this section on any taxpayer for any taxable year with respect to all individuals for whom the taxpayer is liable under subsection (b)(3) shall not exceed an amount equal to 300 percent the applicable dollar amount (determined without Penalty. 26 USC 5000A.