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OK HB1531
Bill
Status
2/7/2011
Primary Sponsor
Gus Blackwell
Click for details
AI Summary
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Allows employers a 100% exemption from taxable income for health insurance premiums paid for employees, provided the employer pays at least 50% of the total premium cost; excludes premiums qualifying for the Oklahoma Employer/Employee Partnership for Insurance Coverage Premium Assistance Program.
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Allows individuals a 100% exemption from taxable income for health insurance premiums and non-reimbursed eligible medical expenses (as defined in Internal Revenue Code Section 213(d)); excludes expenditures eligible for health savings accounts.
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Exemptions apply to taxable years beginning after December 31, 2011.
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Effective date: January 1, 2012.
Legislative Description
Revenue and taxation; providing an exemption for certain health insurance premiums and specified medical expenditures; effective date.
Revenue and Taxation
Last Action
Second Reading referred to Appropriations and Budget
2/8/2011