GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 1997

S	1 

SENATE BILL 971

Short Title:  Self-Employed Health Insurance Deduction.    	(Public)

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Sponsors: Senator Reeves.

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Referred to:  Finance.

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April 21, 1997

A BILL TO BE ENTITLED
AN ACT TO ALLOW AN ADDITIONAL INCOME TAX DEDUCTION FOR HEALTH INSURANCE COSTS OF SELF-EMPLOYED INDIVIDUALS.
The General Assembly of North Carolina enacts:
Section 1.  G.S. 105-134.6(d) is amended by adding a new subdivision to read:
"(3)	The taxpayer may deduct the amount by which the taxpayer's deductions under section 162(e) of the Code for health insurance costs of self-employed individuals would have increased if the applicable percentage in section 162(e)(B) of the Code for the taxable year were one hundred percent (100%)."
Section 2.  This act is effective for taxable years beginning on or after January 1, 1997.