Text: SF02046 Text: SF02048 Text: SF02000 - SF02099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 422.7, subsection 32, Code Supplement
1 2 1997, is amended to read as follows:
1 3 32. Subtract, to the extent not otherwise deducted in
1 4 computing adjusted gross income, the amounts paid by the
1 5 taxpayer for the purchase of health benefits coverage or
1 6 insurance for the taxpayer or taxpayer's spouse or dependent.
1 7 "Health benefits coverage or insurance" includes insurance for
1 8 long-term nursing home care.
1 9 Sec. 2. Section 422.9, subsection 2, paragraph i, Code
1 10 Supplement 1997, is amended to read as follows:
1 11 i. If the taxpayer has a deduction for medical care
1 12 expenses under section 213 of the Internal Revenue Code, the
1 13 taxpayer shall recompute for the purposes of this subsection
1 14 the amount of the deduction under section 213 by excluding
1 15 from medical care, as defined in section 213, the amount
1 16 subtracted under section 422.7, subsection 32, to the extent
1 17 it constitutes medical care as defined in section 213.
1 18 Sec. 3. EFFECTIVE AND APPLICABILITY DATES. This Act,
1 19 being deemed of immediate importance, takes effect upon
1 20 enactment and applies retroactively to January 1, 1998, for
1 21 tax years beginning on or after that date.
1 22 EXPLANATION
1 23 The bill specifies that a deduction from income for
1 24 purposes of the state individual income tax is allowed for the
1 25 amount paid for insurance purchased for long-term nursing home
1 26 care.
1 27 The bill takes effect upon enactment and applies
1 28 retroactively to January 1, 1998, for tax years beginning on
1 29 or after that date.
1 30 LSB 3563SS 77
1 31 mg/jl/8
Text: SF02046 Text: SF02048 Text: SF02000 - SF02099 Text: SF Index Bills and Amendments: General Index Bill History: General Index
© 1998 Cornell College and League of Women Voters of Iowa
Comments about this site or page?
webmaster@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Wed Feb 4 03:43:36 CST 1998
URL: /DOCS/GA/77GA/Legislation/SF/02000/SF02047/980121.html
jhf