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2008 SESSION

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088062468
HOUSE BILL NO. 213 Offered January 9, 2008 Prefiled December 27, 2007 A BILL to amend the Code of Virginia by adding in Article 3 of Chapter 3 of Title 58.1 a section numbered 58.1-339.12, relating to TRICARE physicians tax credit. ---------- Patron-- Cole ---------- Referred to Committee on Finance ----------

Be it enacted by the General Assembly of Virginia:

1.  That the Code of Virginia is amended by adding in Article 3 of Chapter 3 of Title 58.1 a section numbered 58.1-339.12 as follows:

§ 58.1-339.12. TRICARE physicians tax credit.

A. 1. For taxable years beginning on or after January 1, 2008, any physician who enters into a contract for the first time on or after January 1, 2008, to provide health care services permitted under a TRICARE contract to patients enrolled in the TRICARE system shall be allowed a one-time credit in the amount of $2,500 against the tax levied pursuant to § 58.1-320.  

2. Any physician who has a contract to provide health care services permitted under a TRICARE contract to patients enrolled in the TRICARE system and who has received the credit allowed in subdivision 1, shall be allowed an annual credit of $1,000 if the physician actively participates in the TRICARE system and provides health care services to a minimum of 100 TRICARE patients each year.

3. A physician may not receive the credits allowed in subdivisions 1 and 2 in the same tax year. The total credit allowed in any one year shall not exceed the taxpayer's income tax liability.  

B. For purposes of this section:

"Physician" means an individual who is licensed by the Commonwealth in accordance with the provisions of Article 3 (§ 54.1-2929 et seq.) of Chapter 29 of Title 54.1 to practice medicine, osteopathy, chiropractic, or podiatry.

"TRICARE" means the U.S. Department of Defense military health care system.