S 53
108th Congress
Senate
Taxation
Commerce
Economics and Public Finance
Employee health benefits
Finance and Financial Sector
Health
Health insurance
Income tax
Indexing (Economic policy)
Insurance premiums
Labor and Employment
Medical economics
Small business
Tax credits
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.
Introduced: January 7, 2003
Introduced by:
Durbin, Richard J.
Democratic
· Illinois
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 7, 2003
Read twice and referred to the Committee on Finance.
Jan 7, 2003
Introduced in Senate
Plain-English summary
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.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1
Cosponsors
1