2004 Regular Session

HOUSE BILL 1123

File Code: Taxes - Income
Sponsored By:
Delegates Trueschler, Dwyer, Frank, Gilleland, Kach, McComas, and McDonough
Entitled:
Income Tax Credit for Malpractice Insurance Premium Increases

Synopsis:

Allowing a State income tax credit in an amount equal to 50% of the increase for the taxable year in medical malpractice insurance premiums paid by a licensed physician to the extent the increase over the prior taxable year is greater than 10% but does not exceed 50%; applying the Act to tax years after 2003 but before 2007; and terminating the Act after 3 years.

History by Legislative Date

House Action
2/13
First Reading Ways and Means
3/10
Hearing 3/25 at 1:00 p.m.
Senate Action
No Action
Sponsored by:
Delegate John G. Trueschler, District 42
Delegate Donald H. Dwyer, Jr., District 31
Delegate William J. Frank, District 42
Delegate Terry R. Gilleland, Jr., District 32
Delegate Wade Kach, District 5B
Delegate Susan K. McComas, District 35B
Delegate Pat McDonough, District 7
Bill indexed under the following Subjects:
HEALTH OCCUPATIONS -see also- specific health occupations
INCOME TAX
INSURANCE -see also- HEALTH INS; MAIF; MOTOR VEHICLE INS
MEDICAL MALPRACTICE
PHYSICIANS -see also- DENTISTS; MED EXMNRS; PSYCH; etc
SUNSET
TAX CREDITS -see also- CIRCUIT BREAKER
Bill affects the following Statute:
Tax - General
( 10-725 )

Documents:

Bill Text: First Reading (PDF), Third Reading, Enrolled
Fiscal Note: Available (PDF)
Amendments: None offered