Text: SF00091 Text: SF00093 Text: SF00000 - SF00099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 422.7, Code 1995, is amended by adding
1 2 the following new subsection:
1 3 NEW SUBSECTION. 32. Subtract, to the extent not otherwise
1 4 deducted in computing adjusted gross income, the amounts paid
1 5 by the taxpayer for the purchase of health benefits coverage
1 6 or insurance for the taxpayer or taxpayer's spouse or
1 7 dependent.
1 8 Sec. 2. Section 422.9, subsection 2, Code 1995, is amended
1 9 by adding the following new paragraph:
1 10 NEW PARAGRAPH. i. If the taxpayer has a deduction for
1 11 medical care expenses under section 213 of the Internal
1 12 Revenue Code, the taxpayer shall recompute for the purposes of
1 13 this subsection the amount of the deduction under section 213
1 14 by excluding from medical care, as defined in section 213, the
1 15 amount subtracted under section 422.7, subsection 32.
1 16 Sec. 3. This Act takes effect January 1, 1996, for tax
1 17 years beginning on or after that date.
1 18 EXPLANATION
1 19 This bill allows for an amount paid by taxpayers for health
1 20 benefits coverage or insurance for the taxpayer, spouse, or
1 21 dependent to be subtracted in computing net income for state
1 22 individual income tax. This bill also provides that the
1 23 amount of the health expense deduction allowed is not to be
1 24 used in computing the medical deduction for itemized
1 25 deductions for state tax purposes.
1 26 The bill is effective January 1, 1996, for tax years
1 27 beginning on or after that date.
1 28 LSB 1987SS 76
1 29 mg/sc/14
Text: SF00091 Text: SF00093 Text: SF00000 - SF00099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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