GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2017
H 1
HOUSE BILL 295
Short Title: Health Care Sharing Expenses Deduction. |
(Public) |
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Sponsors: |
Representatives S. Martin and Dobson (Primary Sponsors). For a complete list of sponsors, refer to the North Carolina General Assembly web site. |
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Referred to: |
Insurance, if favorable, Finance |
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March 9, 2017
A BILL TO BE ENTITLED
AN ACT to provide income tax relief for health care sharing expenses.
The General Assembly of North Carolina enacts:
SECTION 1. G.S. 105‑153.5(a)(2) reads as rewritten:
"(2) Itemized deduction amount. – An amount equal to the sum of the items listed in this subdivision. The amounts allowed under this subdivision are not subject to the overall limitation on itemized deductions under section 68 of the Code:
…
c. Medical and Dental
Expense. – The amount allowed as a deduction for To the extent it
exceeds ten percent (10%) of a taxpayer's adjusted gross income for that
taxable year, the sum of (i) medical and dental expenses that are used
for the calculation under section 213 of the Code for that taxable year.and
(ii) qualified health care sharing expenses incurred by the taxpayer for being
a member of a health care sharing organization during the taxable year. For
purposes of this sub‑subdivision, a "health care sharing
organization" is defined in G.S. 58‑49‑12 and "qualified
health sharing expenses" are the total amount of money paid by a taxpayer as
a member of a health care sharing organization toward the health care expenses
of the members of the health care sharing organization for which the taxpayer
received no reimbursement, including administrative expenses incurred by the
health care sharing organization.
…."
SECTION 2. This act is effective for taxable years beginning on or after January 1, 2018.