[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[H.R. 691 Introduced in House (IH)]







104th CONGRESS
  1st Session
                                H. R. 691

 To amend the Internal Revenue Code of 1986 to restore the 25 percent 
 deduction for the health insurance costs of self-employed individuals 
    for 1994 and to provide an 80 percent deduction for such costs 
                           beginning in 1995.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 26, 1995

  Mr. Cardin 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 25 percent 
 deduction for the health insurance costs of self-employed individuals 
    for 1994 and to provide an 80 percent deduction for such costs 
                           beginning in 1995.

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

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

    (a) Deduction Made Permanent; 25 Percent Deduction for Taxable 
Years Beginning in 1994.--
            (1) In general.--Subsection (l) of section 162 of the 
        Internal Revenue Code of 1986 (relating to special rules for 
        health insurance costs of self-employed individuals) is amended 
        by striking paragraph (6).
            (2) Effective date.--The amendment made by paragraph (1) 
        shall apply to taxable years beginning after December 31, 1993.
    (b) Deduction Increased to 80 Percent.--
            (1) In general.--Paragraph (1) of section 162(l) of such 
        Code is amended by striking ``25 percent'' and inserting ``80 
        percent''.
            (2) Effective date.--The amendment made by paragraph (1) 
        shall apply to taxable years beginning after December 31, 1994.
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