SB462 - Creates an income tax deduction for certain penalties assessed under the Affordable Care Act and paid on a federal return

SB 462

Creates an income tax deduction for certain penalties assessed under the Affordable Care Act and paid on a federal return

Sponsor:

Schaefer

LR Number:

1986S.02I

Committee:

Ways and Means

Last Action:

4/16/2015 - Voted Do Pass S Ways and Means Committee

Journal Page:

Title:

Calendar Position:

Effective Date:

August 28, 2015

Current Bill Summary

SB 462 - Under the federal Patient Protection and Affordable Care Act, individual taxpayers may be assessed a tax penalty for failure to maintain health insurance coverage. This act creates a Missouri income tax deduction for any such payments made on federal income taxes.

This act is identical to HB 1139 (2015).

MIKE HAMMANN

Amendments