[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 264 Introduced in House (IH)]

103d CONGRESS
  1st Session
                                H. R. 264

To amend the Internal Revenue Code of 1986 to restore the deduction for 
 health insurance costs of self-employed individuals for an indefinite 
         period, and to increase the amount of such deduction.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 5, 1993

Mr. McCandless 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 restore the deduction for 
 health insurance costs of self-employed individuals for an indefinite 
         period, and to increase the amount of such deduction.

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

SECTION 1. HEALTH INSURANCE COSTS OF SELF-EMPLOYED INDIVIDUALS.

    (a) In General.--Paragraph (1) of section 162(l) of the Internal 
Revenue Code of 1986 (relating to special rules for health insurance 
costs of self-employed individuals) is amended by striking ``25 
percent'' and inserting ``the applicable percentage''.
    (b) Applicable Percentage.--Paragraph (6) of section 162(l) of such 
Code is amended to read as follows:
            ``(6) Applicable percentage.--For purposes of paragraph 
        (1)--

                    ``In the case of taxable
                                                                       
                      years beginning in
                                                         The applicable
                      calendar year:
                                                         percentage is:
                            1993.....................        25 percent
                            1994 or 1995.............        50 percent
                            1996 or thereafter.......    100 percent.''
    (c) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 1992.

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