ID H0267

Allows individuals to deduct a portion of unreimbursed prescription drugs, health care, and medical services costs under Internal Revenue Code section 213 for tax years 2016 and beyond.

For tax year 2016, deducts 33.33% of eligible medical expenses after accounting for the 7.5% or 10% federal threshold; for tax year 2017, deducts 67%; for tax year 2018 and later, deducts 100% of such expenses.

Eligible deductible amounts include doctor's visits, hospital stays, co-pays, deductibles, physical therapy, chiropractic services, and other licensed health professions under Idaho Code title 54, but excludes over-the-counter drugs or therapies.

Makes a technical correction to section 63-3022 of Idaho Code regarding adjustments to taxable income.

Effective January 1, 2016.