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Introduced Version House Bill 2148 History

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hb2148 intr
H. B. 2148


(By Delegates Reynolds, Stephens, Boggs, Rodighiero, Perdue, Craig and Walters)

[Introduced February 11, 2009; referred to the
Committee on Banking and Insurance then Finance.]



A BILL to amend the Code of West Virginia, 1931, as amended, by adding thereto a new section, designated §11-24-12a, relating to providing a corporate tax credit for qualified health insurance policies provided by corporate employers to employees.

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 §11-24-12a, to read as follows:
ARTICLE 24. CORPORATION NET INCOME TAX.
§11-24-12a. Credit for providing corporate employees a qualified health insurance policy.

(a) A corporation providing its employees a qualified health insurance policy is eligible to receive a tax credit of up to $2,000.00 per employee, per year, against the net corporate income tax for taxable years beginning after December 31, 2009. The maximum yearly tax credit an eligible corporation may receive under this subsection is $30,000.00. The Tax Commissioner shall propose rules for legislative approval in accordance with the provisions of article three
, chapter twenty-nine-a of this code, defining a qualified health insurance policy.

NOTE: The purpose of this bill is to provide a corporate net income tax credit of $2,000.00 per employee, per year, against the net corporate income tax for qualified health insurance policies provided by corporate employers to employees. The maximum yearly tax credit for eligible corporations would total $30,000.00

Strike-throughs indicate language that would be stricken from the present law, and underscoring indicates new language that would be added.
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