17052.10.
(a) (1) For each taxable year beginning on or after January 1, 2019, there shall be allowed to a qualified individual a health insurance premium credit against the “net tax,” as defined by Section 17039, in an amount determined pursuant to paragraph (2).(2) The credit shall be equal to the cost of health insurance premiums for the lowest cost bronze plan for the qualified individual or the qualified individual’s dependent that exceeds ____ 8 percent of the
qualified individual’s modified adjusted gross income.
(b) For purposes of this section:
(1) “Bronze plan” has the same meaning as “bronze level,” as defined in Section 1367.008 of the Health and Safety Code.
(2) “Individual market” means an individual market described in either Article 11.8 (commencing with Section 1399.845) of Chapter 2.2 (commencing with Section 1340) of Division 2 of the Health and Safety Code or Chapter 9.9 (commencing with Section 10965) of Part 2 of Division 2 of the Insurance Code.
(3) “Lowest cost bronze plan” means the lowest cost bronze plan available to the qualified individual or the qualified individual’s dependent, given the age
and geographic region of the individual covered by the health care coverage.
(4) “Modified adjusted gross income” has the same meaning as in Section 36B(d)(2)(B) of the Internal Revenue Code, relating to modified adjusted gross income.
(5) (A) “Qualified individual” means a person who purchased health care coverage in the individual market for himself or herself or for a dependent, if that coverage is a standardized benefit design approved by Covered California pursuant to subdivision (c) of Section 100504 of the Government Code.
(B) A “qualified individual” does not include an individual who, or whose dependent for which the credit is claimed, is otherwise eligible for minimum essential coverage
through employment, Medicare, Medicaid, or other public programs. For purposes of this subparagraph, “minimum essential coverage through employment” means affordable employer coverage of minimum value, as provided in the federal Patient Protection and Affordable Care Act (Public Law 111-148), as amended by the federal Health Care and Education Reconciliation Act of 2010 (Public Law 111-152), and any rules and regulations promulgated thereunder.
(c) If the amount allowable as a credit under this section exceeds the tax liability computed under this part for the taxable year, the excess shall be credited against other amounts due, if any, and the balance, if any, shall, upon appropriation by the Legislature, be refunded to the qualified individual.
(d) Section 41 does
not apply to the credit allowed by this section.