H.R. 7071 — Healthcare Reinvestment Act

This section repeals sections 100052, 100053, 100054, and 100055 of Public Law 119-21—which authorized activities classified under title 6 (domestic security) or title 8 (aliens and nationality) of the U.S. Code—and rescinds their appropriations. It reallocates the rescinded amounts, without fiscal year limitation, to the Secretary of the Treasury to extend the application of subsections (b)(3)(A)(iii) and (c)(1)(E) of IRC §36B (premium tax credit). (As background, the premium tax credit provides refundable tax credits to eligible individuals and families to purchase health insurance through Affordable Care Act marketplaces.)

This section requires (1) the Secretary of the Treasury to make publicly available an annual report on the use of funds made available under section 2(c), including the number of individuals who retained eligibility for premium tax credits under IRC §36B (i.e., refundable tax credits subsidizing health insurance premiums purchased through Affordable Care Act Marketplaces); and (2) the Treasury Inspector General for Tax Administration to conduct annual audits of such funds.