Bill Text: OR HB4118 | 2012 | Regular Session | Introduced

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Bill Title: Relating to subtraction for health insurance premium payments.

Spectrum: Partisan Bill (Republican 12-0)

Status: (Failed) 2012-03-05 - In committee upon adjournment. [HB4118 Detail]

Download: Oregon-2012-HB4118-Introduced.html

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     76th OREGON LEGISLATIVE ASSEMBLY--2012 Regular Session

NOTE:  Matter within  { +  braces and plus signs + } in an
amended section is new. Matter within  { -  braces and minus
signs - } is existing law to be omitted. New sections are within
 { +  braces and plus signs + } .

LC 37

                         House Bill 4118

Sponsored by Representative GARRARD; Representatives BREWER,
  CAMERON, ESQUIVEL, HICKS, LINDSAY, PARRISH, SHEEHAN, THATCHER,
  WAND, WHISNANT, WINGARD (Presession filed.)

                             SUMMARY

The following summary is not prepared by the sponsors of the
measure and is not a part of the body thereof subject to
consideration by the Legislative Assembly. It is an editor's
brief statement of the essential features of the measure as
introduced.

  Creates subtraction from federal taxable income for health
insurance premium payments made during tax year by individual
taxpayer for health benefit coverage of taxpayer, taxpayer's
spouse or dependents.
  Applies to tax years beginning on or after January 1, 2013.

                        A BILL FOR AN ACT
Relating to subtraction for health insurance premium payments.
Be It Enacted by the People of the State of Oregon:
  SECTION 1.  { + Section 2 of this 2012 Act is added to and made
a part of ORS chapter 316. + }
  SECTION 2.  { + (1) As used in this section:
  (a) 'Health benefit plan' has the meaning given that term in
ORS 743.730.
  (b) 'Health insurance premium' means an amount that is paid in
exchange for provision of benefits, or the promise to provide
benefits, under a health benefit plan.
  (2) There shall be added to federal taxable income the amount
of any deduction claimed on the federal return of the taxpayer
under section 213(a) of the Internal Revenue Code for health
insurance premiums paid or accrued by the taxpayer during the tax
year.
  (3) There shall be subtracted from federal taxable income the
amount of any health insurance premiums paid or accrued by the
taxpayer during the tax year for a health benefit plan in which
the taxpayer, the spouse of the taxpayer or a dependent of the
taxpayer is a beneficiary.
  (4) A taxpayer claiming a subtraction under this section may
not claim a subtraction for the same amount under ORS 316.695
(1)(d)(B). + }
  SECTION 3.  { + Section 2 of this 2012 Act applies only to
health insurance premium payments made or accrued in tax years
beginning on or after January 1, 2013. + }
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