HCS HB 1677 -- HEALTH INSURANCE PREMIUM DEDUCTION (Ervin)

COMMITTEE OF ORIGIN:  Ways and Means

This substitute authorizes a phased-in income tax deduction for
health insurance premiums paid by the taxpayer for the taxpayer,
the taxpayer's spouse, or the taxpayer's dependents.  For tax
year 2006, a 20% deduction is allowed, 40% for 2007, 60% for
2008, 80% for 2009, and 100% for 2010.

The provisions of the substitute will expire six years from the
effective date.

FISCAL NOTE:  Estimated Cost on General Revenue Fund of Up to
$28,076,990 in FY 2007, Up to $56,078,226 in FY 2008, and Up to
$84,080,187 in FY 2009.  No impact on Other State Funds in
FY 2007, FY 2008, and FY 2009.

Missouri House of Representatives
93rd General Assembly, 2nd Regular Session
Last Updated November 29, 2006 at 9:44 am