| HB 0506 | Relating to Tax Deduction for Health Coverage Costs |
| Sponsor: | GRATZ | Handling House Bill: | |
| Committee: | WAYS | LR Number: | L1325.01C |
| Last Action: | 03/02/95 - HCS Reported Do Pass H Ways & Means Committee | ||
| Title: | HCS/HB 506 & 291 | ||
| Effective Date: | |||
HCS HB 506 & 291 Gratz, William (Bill) Garnett, Jess et al
P R E F I L E D
HB 506 -- State Income Tax
Co-Sponsors: Gratz, Garnett, Rizzo, Vogel
This bill authorizes an individual income tax deduction to self-- employed taxpayers for 50% of their health insurance premiums and for their spouse and dependents. The deduction will not be allowed if the taxpayer or spouse is eligible to participate in any subsidized health plan maintained by an employer, nor if a similar deduction is allowed on the federal income tax return.
This bill will become effective January 1, 1996, and applies to all taxable years beginning after December 31, 1995.