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Introduced Version Senate Bill 144 History

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Key: Green = existing Code. Red = new code to be enacted
Senate Bill No. 144

(By Senator Deem)

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[Introduced January 9, 2008; referred to the Committee on Health and Human Resources; and then to the Committee on Finance.]

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A BILL to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section, designated §11-21-12i, relating to allowing a federal adjusted gross income deduction for the amount spent on health insurance; and defining terms.

Be it enacted by the Legislature of West Virginia:
That the Code of West Virginia, 1931, as amended, be amended by adding thereto a new section, designated §11-21-12i, to read as follows:
ARTICLE 21. PERSONAL INCOME TAX.
§11-21-12i. Additional modification reducing federal adjusted gross income; health insurance.

For taxable years beginning after the thirty-first day of December, two thousand eight, in addition to amounts authorized to be subtracted from federal adjusted gross income pursuant to subsection (c), section twelve of this article, there shall be an authorized allowable federal adjusted gross income deduction of up to fifteen thousand dollars for the amount spent on health insurance. For purposes of this section, health insurance shall include any amount paid for health insurance including, but not limited to, premiums, copayments and deductibles. The provisions of this section are applicable to any insurance product regulated by the Insurance Commission pursuant to the provisions of chapter thirty-three of this code and to the Public Employees Insurance Agency established in article sixteen of chapter five of this code.

NOTE: The purpose of this bill is to allow a federal adjusted gross income deduction of up to $15,000 for the amount spent on health insurance.

This section is new; therefore, strike-throughs and underscoring have been omitted.
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