To amend the Internal Revenue Code of 1986 to provide that employees of certain companies seeking bankruptcy protection are eligible for the health coverage tax credit, and for other purposes.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to revise the tax credit for health insurance costs to: (1) extend such credit to employees of companies in bankruptcy reorganization; (2) decrease from 55 to 50 the age at which Pension Benefit Guaranty Corporation pension recipients are eligible for such credit; (3) repeal the three-month existing coverage requirement; and (4) extend the credit to spouses of certain individuals eligible for such credit.…