Text: HF00273 Text: HF00275 Text: HF00200 - HF00299 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 422.9, subsection 2, paragraph i, Code 1 2 1999, is amended to read as follows: 1 3 i.If the taxpayer has aIn computing the deduction for 1 4 medical care expenses under section 213 of the Internal 1 5 Revenue Code, the taxpayer shallrecomputecompute for the 1 6 purposes of this subsection the amount of the deduction under 1 7 section 213 based upon medical expenses exceeding three 1 8 percent of federal adjusted gross income and by excluding from 1 9 medical care, as defined in section 213, the amount subtracted 1 10 under section 422.7, subsection3229. 1 11 Sec. 2. RETROACTIVE EFFECTIVE DATE. This Act applies 1 12 retroactively to January 1, 1999, for tax years beginning on 1 13 or after that date. 1 14 EXPLANATION 1 15 Under present law when itemizing for state individual 1 16 income tax purposes, a taxpayer may deduct medical and dental 1 17 expenses which have not been reimbursed in excess of 7.5 1 18 percent of federal adjusted gross income. This bill reduces 1 19 the 7.5 percent floor to 3.0 percent. The bill also corrects 1 20 a mistaken reference. 1 21 The bill applies retroactively to January 1, 1999, for tax 1 22 years beginning on or after that date. 1 23 LSB 2211HH 78 1 24 mg/sc/14
Text: HF00273 Text: HF00275 Text: HF00200 - HF00299 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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