Text: HF00006 Text: HF00008 Text: HF00000 - HF00099 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 422.7, Code 1997, is amended by adding 1 2 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 the taxpayer, taxpayer's spouse, 1 8 or a person who is related to the taxpayer or taxpayer's 1 9 spouse within the second degree of consanguinity. 1 10 Sec. 2. Section 422.9, subsection 2, paragraph i, Code 1 11 1997, 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 applies retroactively to January 1, 1997, 1 20 for tax years beginning on or after that date. 1 21 EXPLANATION 1 22 The bill allows a taxpayer to deduct in computing state 1 23 individual income tax the amount paid for health insurance 1 24 coverage, including coverage for long-term health and nursing 1 25 care for the taxpayer, taxpayer's spouse, or a person who is 1 26 related by blood from a common ancestor within the second 1 27 degree. The bill applies retroactively to January 1, 1997, 1 28 for tax years beginning on or after that date. 1 29 LSB 1215YH 77 1 30 mg/sc/14
Text: HF00006 Text: HF00008 Text: HF00000 - HF00099 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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