Page:United States Statutes at Large Volume 124.djvu/280

 124 STAT. 254 PUBLIC LAW 111–148—MAR. 23, 2010 plan with respect to which an applicable premium tax credit or cost-sharing reduction is allowed or paid with respect to the employee, then there is hereby imposed on the employer an assessable payment equal to the product of the number of full-time employees of the applicable large employer described in subparagraph (B) for such month and 400 percent of the applicable payment amount. ‘‘(2) OVERALL LIMITATION.—The aggregate amount of tax determined under paragraph (1) with respect to all employees of an applicable large employer for any month shall not exceed the product of the applicable payment amount and the number of individuals employed by the employer as full-time employees during such month. ‘‘(d) DEFINITIONS AND SPECIAL RULES.—For purposes of this section— ‘‘(1) APPLICABLE PAYMENT AMOUNT.—The term ‘applicable payment amount’ means, with respect to any month, 1⁄12 of $750. ‘‘(2) APPLICABLE LARGE EMPLOYER.— ‘‘(A) IN GENERAL.—The term ‘applicable large employer’ means, with respect to a calendar year, an employer who employed an average of at least 50 full-time employees on business days during the preceding calendar year. ‘‘(B) EXEMPTION FOR CERTAIN EMPLOYERS.— ‘‘(i) IN GENERAL.—An employer shall not be consid- ered to employ more than 50 full-time employees if— ‘‘(I) the employer’s workforce exceeds 50 full- time employees for 120 days or fewer during the calendar year, and ‘‘(II) the employees in excess of 50 employed during such 120-day period were seasonal workers. ‘‘(ii) DEFINITION OF SEASONAL WORKERS.—The term ‘seasonal worker’ means a worker who performs labor or services on a seasonal basis as defined by the Sec- retary of Labor, including workers covered by section 500.20(s)(1) of title 29, Code of Federal Regulations and retail workers employed exclusively during holiday seasons. ‘‘(C) RULES FOR DETERMINING EMPLOYER SIZE.—For purposes of this paragraph— ‘‘(i) APPLICATION OF AGGREGATION RULE FOR EMPLOYERS.—All persons treated as a single employer under subsection (b), (c), (m), or (o) of section 414 of the Internal Revenue Code of 1986 shall be treated as 1 employer. ‘‘(ii) EMPLOYERS NOT IN EXISTENCE IN PRECEDING YEAR.—In the case of an employer which was not in existence throughout the preceding calendar year, the determination of whether such employer is an applicable large employer shall be based on the average number of employees that it is reasonably expected such employer will employ on business days in the current calendar year. ‘‘(iii) PREDECESSORS.—Any reference in this sub- section to an employer shall include a reference to any predecessor of such employer.