[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[H.R. 321 Introduced in House (IH)]







105th CONGRESS
  1st Session
                                H. R. 321

 To amend the Internal Revenue Code of 1986 to allow health insurance 
 premiums to be fully deductible to the extent not in excess of $3,000.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            January 7, 1997

 Mr. Solomon 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 allow health insurance 
 premiums to be fully deductible to the extent not in excess of $3,000.

    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 ``Health Insurance Premium 
Deductibility Act of 1997''.

SEC. 2. DEDUCTION FOR HEALTH INSURANCE PREMIUMS DETERMINED WITHOUT 
              REGARD TO 7.5% THRESHOLD.

    (a) In General.--Subsection (a) of section 213 of the Internal 
Revenue Code of 1986 (relating to medical, dental, etc., expenses) is 
amended to read as follows:
    ``(a) Allowance of Deduction.--There shall be allowed as a 
deduction the following amounts not compensated for by insurance or 
otherwise--
            ``(1) the amount by which the amount of expenses paid 
        during the taxable year (reduced by the amount deductible under 
        paragraph (2)) for medical care of the taxpayer, his spouse, 
        and dependents (as defined in section 152) exceeds 7.5 percent 
        of adjusted gross income, plus
            ``(2) an amount equal to the expenses paid during the 
        taxable year for insurance which constitutes medical care for 
        the taxpayer, his spouse, and dependents to the extent such 
        amount does not exceed $3,000.''
    (b) Effective Date.--The amendment made by subsection (a) shall 
apply to taxable years beginning after the date of the enactment of 
this Act.
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