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
Iowa General Assembly
Search: Senate Bills and Amendments (76th General Assembly)
© 1996 Cornell College and League of Women Voters of Iowa
Comments? webmaster@legis.iowa.gov.
Last update: Mon Mar 4 09:39:45 CST 1996
URL: /DOCS/GA/76GA/Legislation/SF/02100/SF02176/960213.html
jhf