HF 2219

as introduced - 86th Legislature (2009 - 2010) Posted on 02/09/2010 02:00am

A bill for an act
relating to taxation; individual income; providing a credit for certain health
insurance premiums; proposing coding for new law in Minnesota Statutes,
chapter 290.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

new text begin [290.0681] HEALTH INSURANCE CREDIT.
new text end

new text begin (a) For purposes of this section, "health insurance premiums" means premiums paid
by an employee for health plan coverage of adult unmarried children under the age of 25,
as referred to in the definition of dependent in section 62L.02, subdivision 11, and as
required for plans offering dependent coverage under section 62A.302, to the extent not
excluded or deducted in determining federal taxable income.
new text end

new text begin (b) An individual is allowed a credit against the tax imposed by this chapter for
health insurance premiums paid during the tax year. The credit equals 20 percent of health
insurance premiums. For a nonresident or part-year resident, the credit determined under
this section must be allocated based on the percentage calculated under section 290.06,
subdivision 2c, paragraph (e).
new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective for taxable years beginning after
December 31, 2008.
new text end