To amend the Internal Revenue Code of 1986 to allow a deduction for charity care provided by physicians.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Charity Care Tax Deduction for Physicians Act of 2012''.
SEC. 2. PHYSICIAN CHARITY CARE DEDUCTION.
(a) In General.--Part VI of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section:
``SEC. 199A. PHYSICIAN CHARITY CARE.
``(a) In General.--In the case of a physician, there shall be allowed as a deduction an amount equal to the amount such physician would have otherwise charged for qualified charity care provided by such physician during the taxable year. ``(b) Qualified Charity Care.--For purposes of this section-- ``(1) Qualified charity care.--The term `qualified charity care' means physicians' services (as defined in section 1861(q) of the Social Security Act) provided on a volunteer or pro bono basis. ``(2) Physician.--The term `physician' has the meaning given to such term in section 1861 of the Social Security Act (42 U.S.C. 1395x(r)). ``(c) Limitations.-- ``(1) Service charge limitation.--The amount determined under subsection (a) with respect to any services-- ``(A) shall be reduced by any reimbursement for such services, and ``(B) shall not exceed the medicare economic index (referred to in the fourth sentence of section 1842(b)(3) of the Social Security Act (42 U.S.C. 1395u(b)(3)) applicable to the services...