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2021 SESSION

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HB 531 Income tax, state; refundable credit for coverage under qualified health plan.

Introduced by: Ibraheem S. Samirah | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Individual income tax; refundable credit for coverage under qualified health plan. Provides a refundable individual income tax credit for taxable years 2020 through 2024 for a portion of the health care premium costs of a taxpayer insured through the individual marketplace of the Affordable Care Act, provided that such taxpayer has a household income between 400 and 500 percent above the federal poverty line. The amount of the credit would be the lesser of (i) the taxpayer's health care premiums or (ii) the amount by which the premium for a silver plan exceeds 10 percent of household income.


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