Page:United States Statutes at Large Volume 124.djvu/874

 124 STAT. 848 PUBLIC LAW 111–148—MAR. 23, 2010 ‘‘SEC. 4980I. EXCISE TAX ON HIGH COST EMPLOYER-SPONSORED HEALTH COVERAGE. ‘‘(a) IMPOSITION OF TAX.—If — ‘‘(1) an employee is covered under any applicable employer- sponsored coverage of an employer at any time during a taxable period, and ‘‘(2) there is any excess benefit with respect to the coverage, there is hereby imposed a tax equal to 40 percent of the excess benefit. ‘‘(b) EXCESS BENEFIT.—For purposes of this section— ‘‘(1) IN GENERAL.—The term ‘excess benefit’ means, with respect to any applicable employer-sponsored coverage made available by an employer to an employee during any taxable period, the sum of the excess amounts determined under para- graph (2) for months during the taxable period. ‘‘(2) MONTHLY EXCESS AMOUNT.—The excess amount deter- mined under this paragraph for any month is the excess (if any) of— ‘‘(A) the aggregate cost of the applicable employer- sponsored coverage of the employee for the month, over ‘‘(B) an amount equal to 1⁄12 of the annual limitation under paragraph (3) for the calendar year in which the month occurs. ‘‘(3) ANNUAL LIMITATION.—For purposes of this subsection— ‘‘(A) IN GENERAL.—The annual limitation under this paragraph for any calendar year is the dollar limit deter- mined under subparagraph (C) for the calendar year. ‘‘(B) APPLICABLE ANNUAL LIMITATION.—The annual limitation which applies for any month shall be determined on the basis of the type of coverage (as determined under subsection (f)(1)) provided to the employee by the employer as of the beginning of the month. ‘‘(C) APPLICABLE DOLLAR LIMIT.—Except as provided in subparagraph (D)— ‘‘(i) 2013.—In the case of 2013, the dollar limit under this subparagraph is— ‘‘(I) in the case of an employee with self-only coverage, $8,500, and ‘‘(II) in the case of an employee with coverage other than self-only coverage, $23,000. ‘‘(ii) EXCEPTION FOR CERTAIN INDIVIDUALS.—In the case of an individual who is a qualified retiree or who participates in a plan sponsored by an employer the majority of whose employees are engaged in a high-risk profession or employed to repair or install electrical or telecommunications lines— ‘‘(I) the dollar amount in clause (i)(I) (deter- mined after the application of subparagraph (D)) shall be increased by $1,350, and ‘‘(II) the dollar amount in clause (i)(II) (deter- mined after the application of subparagraph (D)) shall be increased by $3,000. ‘‘(iii) SUBSEQUENT YEARS.—In the case of any cal- endar year after 2013, each of the dollar amounts under clauses (i) and (ii) shall be increased to the amount equal to such amount as in effect for the Definition. 26 USC 4980I.