Text: SF02175 Text: SF02177 Text: SF02100 - SF02199 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 422.7, Code Supplement 1995, is amended 1 2 by adding the following new subsection: 1 3 NEW SUBSECTION. 35. 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, including coverage or insurance for long-term 1 7 health and nursing care, for a person who is related to the 1 8 taxpayer or taxpayer's spouse within the second degree of 1 9 consanguinity. 1 10 Sec. 2. Section 422.9, subsection 2, paragraph i, Code 1 11 Supplement 1995, is amended to read as follows: 1 12 i. If the taxpayer has a deduction for medical care 1 13 expenses under section 213 of the Internal Revenue Code, the 1 14 taxpayer shall recompute for the purposes of this subsection 1 15 the amount of the deduction under section 213 by excluding 1 16 from medical care, as defined in section 213, the amount 1 17 subtracted under section 422.7, subsection 32 or 35, to the 1 18 extent it constitutes medical care as defined in section 213. 1 19 Sec. 3. This Act, being deemed of immediate importance, 1 20 takes effect upon enactment and applies retroactively to 1 21 January 1, 1996, for tax years beginning on or after that 1 22 date. 1 23 EXPLANATION 1 24 The bill allows a taxpayer to deduct in computing state 1 25 individual income tax the amount paid for health insurance 1 26 coverage, including coverage for long-term health and nursing 1 27 care for a person who is related by blood from a common 1 28 ancestor within the second degree. The bill takes effect upon 1 29 enactment and applies retroactively to January 1, 1996, for 1 30 tax years beginning on or after that date. 1 31 LSB 3050SS 76 1 32 mg/sc/14.2
Text: SF02175 Text: SF02177 Text: SF02100 - SF02199 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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