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Introduced Version House Bill 4575 History

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Key: Green = existing Code. Red = new code to be enacted
H. B. 4575


(By Delegates J. Miller, Lane, Romine, Ashley and Evans)

[Introduced February 15, 2008; 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 §11-21-24, relating to providing a deduction from personal income tax for amounts paid for health insurance plans not backed by an employer or the government.

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 §11-21-24, to read as follows:

ARTICLE 21. PERSONAL INCOME TAX.
§11-21-24. Health insurance tax credit.
For the tax years beginning on or after the first day of January, two thousand eight, a person filing a state income tax return shall be entitled to deduct from their taxable income an amount of up to eight thousand dollars for a health insurance plan, not backed by an employer or state or federal government, that covers a person or a person's spouse, children, or other dependents.



NOTE: The purpose of this bill is to provide a state tax deduction for amounts paid for health insurance. The bill provides up to an eight thousand dollar tax deduction from taxable income for amounts paid for health insurance plans not backed by an employer or state or federal government.


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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