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AL HB215
Bill
Status
3/10/2015
Primary Sponsor
Becky Nordgren
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AI Summary
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Adds Section 40-18-15.6 to Alabama Code to allow a deduction on state income tax returns for Health Savings Account contributions made by taxpayers up to the maximum amount allowed under 26 USC §223.
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Deduction applies to contributions made on or after January 1, 2017, by or on behalf of an individual to their health savings account, mirroring the federal income tax deduction.
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Employer contributions to health savings accounts are not includible in employee income and therefore are not deductible.
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Becomes effective for taxable years beginning after December 31, 2016, following passage and approval by the Governor.
Legislative Description
Revenue and taxation, deductions, contributions made by taxpayer to his or her health savings account up to max. amount allowed by federal law are deductible on the Alabama Individual Income Tax Return, Sec. 40-18-15.6 added
Taxation
Last Action
Read for the first time and referred to the House of Representatives committee on Ways and Means Education
3/10/2015