[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[S. 420 Introduced in Senate (IS)]







105th CONGRESS
  1st Session
                                 S. 420

To amend the Internal Revenue Code of 1986 to phase in by the year 2000 
a 100 percent deduction for the health insurance costs of self-employed 
                              individuals.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                             March 11, 1997

Mr. Dorgan (for himself and Mr. Bumpers) 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 phase in by the year 2000 
a 100 percent deduction for the health insurance costs of self-employed 
                              individuals.

    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 Cost Tax Equity Act 
of 1997''.

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

    (a) In General.--The table contained in section 162(l)(1)(B) of the 
Internal Revenue Code of 1986 is amended to read as follows:

``For taxable years                                      The applicable
beginning in calendar year:                              percentage is:
    1998..........................................                  60 
    1999..........................................                  80 
    2000 and thereafter...........................               100.''
    (b) Effective Date.--The amendment made by this section shall apply 
to taxable years beginning after December 31, 1997.
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