Senate Bill No. 94
(By Senators Craigo, Minear, Sharpe, Mitchell, Ball, Bowman
Hunter, Walker, Snyder, Edgell, Kessler, Unger, McKenzie,
McCabe, Ross, Dawson and Sprouse)
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[Introduced January 14, 2000; referred to the Committee
on Finance.]
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A BILL to amend article twenty-one, chapter eleven of the code
of West Virginia, one thousand nine hundred thirty-one, as
amended, by adding thereto a new section, designated section
eight-h, relating to allowing a credit against personal
income tax for long-term health care insurance premiums.
Be it enacted by the Legislature of West Virginia:
That article twenty-one, chapter eleven of the code of West
Virginia, one thousand nine hundred thirty-one, as amended, be
amended by adding thereto a new section, designated section
eight-h, to read as follows:
ARTICLE 21. PERSONAL INCOME TAX.
§11-21-8h. Credit for long-term health care insurance premiums.
A credit against the tax imposed by the provisions of this
article is allowed for the person paying insurance premiums for
policies covering the person or members of the person's immediate
family against the cost of long-term medical and other
health-related care in the event of a catastrophic illness.
The credit is equal to ten percent of the annual premium
cost paid, but may not exceed the taxpayer's total tax liability
under the other provisions of this article.
The credit is effective for tax years beginning after the
thirty-first day of December, one thousand nine hundred
ninety-nine.
NOTE: The purpose of this bill is to allow a 10% credit
against personal income tax for the annual amount paid for
long-term health insurance premiums.
This section is new; therefore, strike-throughs and
underscoring have been omitted.