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
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