Text: H.R.4961 — 109th Congress (2005-2006)All Information (Except Text)

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Introduced in House (03/15/2006)


109th CONGRESS
2d Session
H. R. 4961


To amend the Internal Revenue Code of 1986 to provide that the deduction for the health insurance costs of self-employed individuals be allowed in determining self-employment tax.


IN THE HOUSE OF REPRESENTATIVES

March 15, 2006

Ms. Hart (for herself and Mr. Manzullo) introduced the following bill; which was referred to the Committee on Ways and Means


A BILL

To amend the Internal Revenue Code of 1986 to provide that the deduction for the health insurance costs of self-employed individuals be allowed in determining self-employment tax.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Self-Employed Health Care Affordability Act of 2006”.

SEC. 2. SECA tax deduction for health insurance costs.

(a) In general.—Subsection (l) of section 162 (relating to special rules for health insurance costs of self-employed individuals) is amended by striking paragraph (4) and by redesignating paragraph (5) as paragraph (4).

(b) Effective date.—The amendment made by this section shall apply to taxable years beginning after the date of the enactment of this Act.