Page:United States Statutes at Large Volume 116 Part 2.djvu/178

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116 STAT. 960 PUBLIC LAW 107-210—AUG. 6, 2002 "(A) restricts premiums charged under the pool to no more than 150 percent of the premium for apphcable standard risk rates; "(B) offers a choice of two or more coverage options through the pool; and "(C) has in effect a mechanism reasonably designed to ensure continued funding of losses incurred by the State after the end of fiscal year 2004 in connection with operation of the pool; the Secretary shall provide, from the funds appropriated under subsection (c)(2) and allotted to the State under paragraph (2), a grant of up to 50 percent of the losses incurred by the State in connection with the operation of the pool. "(2) ALLOTMENT.—The amounts appropriated under subsection (c)(2) for a fiscal year shall be made available to the States in accordance with a formula that is based upon the number of uninsured individuals in the States. "(c) FUNDING. — Out of any money in the Treasury of the United States not otherwise appropriated, there are authorized and appropriated— "(1) $20,000,000 for fiscal year 2003 to carry out subsection (a); and "(2) $40,000,000 for each of fiscal years 2003 and 2004 to carry out subsection (b). Funds appropriated under this subsection for a fiscal year shall remain available for obligation through the end of the following fiscal year. Nothing in this section shall be construed as providing a State with an entitlement to a grant under this section. " (d) QUALIFIED HIGH RISK POOL AND STATE DEFINED. — For purposes of this section, the term 'qualified high risk pool' has the meaning given such term in section 2744(c)(2) and the term 'State' means any of the 50 States and the District of Columbia.". (c) CONFORMING AMENDMENTS.— (1) Paragraph (2) of section 1324(b) of title 31, United States Code, is amended by inserting before the period ", or from section 35 of such Code". (2) The table of sections for subpart C of part IV of chapter 1 of the Internal Revenue Code of 1986 is amended by striking the last item and inserting the following new items: "Sec. 35. Health insurance costs of eligible individuals. "Sec. 36. Overpayments of tax.". 26 USC 35 note. (d) EFFECTIVE DATE. — (1) IN GENERAL. — Except as provided in paragraph (2), the amendments made by this section shall apply to tsixable years beginning after December 31, 2001. (2) STATE HIGH RISK POOLS. —The amendment made by subsection (b) shall take effect on the date of the enactment of this Act. SEC, 202. ADVANCE PAYMENT OF CREDIT FOR HEALTH INSURANCE COSTS OF ELIGIBLE INDIVIDUALS. (a) IN GENERAL. —Chapter 77 of the Internal Revenue Code of 1986 (relating to miscellaneous provisions) is amended by adding at the end the following new section: