of credits Any person to which clause (i) applies shall make the payment required under such clause to the individual not later than 60 days after the date on which such individual elects continuation coverage under section 30312(a)(1) of the Worker Health Coverage Protection Act . (15) Penalty for failure to notify health plan of cessation of eligibility for premium assistance (A) In general Part I of subchapter B of chapter 68 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section: 6720C. Penalty for failure to notify health plan of cessation of eligibility for continuation coverage premium assistance (a) In general Except in the case of failure described in subsection (b) or (c), any person required to notify a group health plan under section 30312(a)(2)(B) of the Worker Health Coverage Protection Act who fails to make such a notification at such time and in such manner as the Secretary of Labor may require shall pay a penalty of $250. (b) Intentional failure In the case of any such failure that is fraudulent, such person shall pay a penalty equal to the greater of— (1) $250, or (2) 110 percent of the premium assistance provided under section 30312(a)(1)(A) of such Act after termination of eligibility under such section. (c) Reasonable cause exception No penalty shall be imposed under this section with respect to any failure if it is shown that such failure is due to reasonable cause and not to willful neglect. . (B) Clerical amendment The table of sections of part I of subchapter B of chapter 68 of such Code is amended by adding at the end the following new item: Sec. 6720C. Penalty for failure to notify health plan of cessation of eligibility for continuation coverage premium assistance. . (16) Coordination with HCTC (A) In general Section 35(g)(9) of the Internal Revenue Code of 1986 is amended to read as follows: (9) Continuation coverage premium assistance In the case of an assistance eligible individual who receives premium assistance for continuation coverage