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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, the taxpayer's
1 8 spouse, or a person who is related to the taxpayer or
1 9 taxpayer's 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, the taxpayer's spouse, or a person who
1 26 is 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 1028SS 77
1 30 mg/sc/14.1
Text: SF00059 Text: SF00061 Text: SF00000 - SF00099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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