House File 275 - Introduced



                                       HOUSE FILE       
                                       BY  QUIRK


    Passed House, Date               Passed Senate, Date             
    Vote:  Ayes        Nays           Vote:  Ayes        Nays         
                 Approved                            

                                      A BILL FOR

  1 An Act relating to provision of an individual income tax
  2    deduction for health care providers who participate in the
  3    voluntary physician provider program, and including a
  4    retroactive applicability date provision.
  5 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
  6 TLSB 1722HH 82
  7 pf/gg/14

PAG LIN



  1  1    Section 1.  Section 422.7, Code 2007, is amended by adding
  1  2 the following new subsection:
  1  3    NEW SUBSECTION.  50.  If the taxpayer is a health care
  1  4 provider who participates in the volunteer health care
  1  5 provider program established pursuant to section 135.24,
  1  6 subtract one hundred percent of the difference between the
  1  7 federal Medicare reimbursement rate for the health care
  1  8 service provided and the amount of reimbursement actually
  1  9 received by the health care provider.
  1 10    Sec. 2.  APPLICABILITY.  This Act applies retroactively to
  1 11 January 1, 2007, for tax years beginning on or after that
  1 12 date.
  1 13                           EXPLANATION
  1 14    This bill allows that in computing net income, an
  1 15 individual taxpayer who is a health care provider
  1 16 participating in the volunteer health care provider program
  1 17 may subtract 100 percent of the difference between the federal
  1 18 Medicare reimbursement rate for the health care service
  1 19 provided and the amount of reimbursement actually received by
  1 20 the health care provider.
  1 21    The bill applies retroactively to January 1, 2007, for tax
  1 22 years beginning on or after that date.
  1 23 LSB 1722HH 82
  1 24 pf:sc/gg/14