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