A bill to amend the Internal Revenue Code of 1986 to allow small business employers a credit against income tax for employee health insurance expenses paid or incurred by the employer.
About This Bill
Committee
Latest Action · January 7, 2003
Read twice and referred to the Committee on Finance.
Amends the Internal Revenue Code to allow small business employers a credit against income tax for employee health insurance expenses the employer pays or incurs.Sets forth formula for deriving amount of credit.Specifies that no amount paid or incurred for health insurance coverage pursuant to a salary reduction arrangement shall be taken into account for purposes of determining the credit.Limits such credit to expenses paid for employees whose total annual wages exceed $5,000 but not $25,000, indexed for inflation.
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