[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[S. 233 Introduced in Senate (IS)]







105th CONGRESS
  1st Session
                                 S. 233

 To amend the Internal Revenue Code of 1986 to increase the deduction 
for health insurance costs of self-employed individuals, and for other 
                               purposes.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                            January 29, 1997

   Ms. Snowe introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to increase the deduction 
for health insurance costs of self-employed individuals, and for other 
                               purposes.

    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 ``Small Business Enhancement Act of 
1997''.

SEC. 2. DEDUCTION FOR HEALTH INSURANCE COSTS OF SELF-EMPLOYED 
              INDIVIDUALS INCREASED.

    (a) In General.--Section 162(l)(1) of the Internal Revenue Code of 
1986 (relating to special rules for health insurance costs of self-
employed individuals) is amended to read as follows:
            ``(1) Allowance of deduction.--In the case of an individual 
        who is an employee within the meaning of section 401(c)(1), 
        there shall be allowed as a deduction under this section an 
        amount equal to the amount paid during the taxable year for 
        insurance which constitutes medical care for the taxpayer, the 
        taxpayer's spouse, and dependents.''.
    (c) Effective Date.--The amendment made by this section applies to 
taxable years beginning after December 31, 1996.

SEC. 3. ASSISTANT UNITED STATES TRADE REPRESENTATIVE FOR SMALL 
              BUSINESS.

    The United States Trade Representative shall establish a new 
position of Assistant United States Trade Representative for Small 
Business to promote exports by small businesses and to remove foreign 
impediments to the success of such undertakings.

SEC. 4. CONGRESSIONAL BUDGET OFFICE COST ANALYSIS.

    (a) CBO Analysis.--Title IV of the Congressional Budget Act of 1974 
(2 U.S.C. 651 et seq.) is amended by inserting after section 403 the 
following new section:

     ``small business cost analysis by congressional budget office

    ``Sec. 404. (a) The Director of the Congressional Budget Office 
shall, to the extent practicable, prepare for each bill or resolution 
of a public character reported by any committee of the House of 
Representatives or the Senate (except the Committee on Appropriations 
of each House), and submit to such committee--
            ``(1) an estimate of the costs which would be incurred in 
        carrying out such bill or resolution in the fiscal year in 
        which it is to become effective and in each of the 4 fiscal 
        years following such fiscal year, together with the basis for 
        each such estimate;
            ``(2) an estimate of the cost which would be incurred by 
        small businesses in carrying out or complying with any 
        significant bill or resolution in the fiscal year in which it 
        is to become effective and in each of the 4 fiscal years 
        following such fiscal year, together with the basis for each 
        such estimate; and
            ``(3) a comparison of the estimates of costs described in 
        paragraphs (1) and (2) with any available estimates of costs 
        made by such committee or by a Federal agency.
The estimates, comparison, and description so submitted shall be 
included in the report accompanying such bill or resolution if timely 
submitted to such committee before such report is filed.
    ``(b) For purposes of this section--
            ``(1) the term `small business' has the same meaning as the 
        term `small-business concern' in section 3(a) of the Small 
        Business Act (15 U.S.C. 632(a)); and
            ``(2) the term `significant bill or resolution' is defined 
        as any bill or resolution which in the judgment of the Director 
        of the Congressional Budget Office is likely to result in an 
        average annual cost to a small business of $1,000 or more, or 
        is likely to have exceptional fiscal consequences for a 
        geographic region or a particular industry segment.''.
    (b) Conforming Amendment.--The table of contents set forth in 
section 2(b) of the Congressional Budget and Impoundment Control Act of 
1974 is amended by inserting after the item relating to section 403 the 
following:

``Sec. 404. Small business cost analysis by Congressional Budget 
                            Office.''.
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