Introduced Version
Senate Bill 527 History
OTHER VERSIONS -
Committee Substitute (1)
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Key: Green = existing Code. Red = new code to be enacted
Senate Bill No. 527
(By Senators Deem, Yoder and Guills)
____________
[Introduced February 9, 2007; 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 §11-21-12h, relating
to allowing a federal adjusted gross income
deduction for the
amount spent on health insurance
.
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 §11-21-12h
, to read as
follows:
ARTICLE 21. PERSONAL INCOME TAX.
§11-21-12h. Additional modification reducing federal adjusted
gross income; health insurance.
For taxable years beginning after the thirty-first day of
December, two thousand-seven, 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.
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.
§11-21-12h is new; therefore, strike-throughs and underscoring
have been omitted.