Senate Bill No. 59
(By Senators Craigo, Bowman, Hunter, Walker, Snyder, Minear,
Edgell, Prezioso, Fanning, Kessler, Sharpe, Ross, Mitchell,
Ball, Unger and McKenzie)
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[Introduced January 13, 1999;
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-g, 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-g, to read as follows:
ARTICLE 21. PERSONAL INCOME TAX.
§11-21-8g. Credit for long-term health care insurance premiums.
A credit against the tax imposed by the provisions of this article is allowed for insurance premiums for those policies
covering persons 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.
NOTE: The purpose of this bill is to allow a ten-percent
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.