Introduced Version
Senate Bill 3 History
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Key: Green = existing Code. Red = new code to be enacted
Senate Bill No. 3
(By Senators Deem and Sypolt)
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[Introduced January 10, 2007; referred to the Committee on
Banking and Insurance; 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 a high-deductible health plan purchased in
conjunction with a health savings account
.
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 for the amount spent on a high
deductible health plan purchased in conjunction
with a health savings account.
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 for
the amount
spent on a high deductible health plan, as defined by
section two hundred twenty-three(c) (2) (A) of the Internal Revenue
Code, purchased in conjunction with a health savings account, as
defined by section two hundred twenty-three of the Internal Revenue
Code.
NOTE: The purpose of this bill is to allow a federal adjusted
gross income deduction for the amount spent on a high deductible
health plan purchased in conjunction with a health savings account.
§11-21-12h is new; therefore, strike-throughs and underscoring
have been omitted.
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