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Billno should always have and extension i.e. h1.ih

Self-Employed Health Care Affordability Act of 2003 (Introduced in House)

HR 1873 IH

108th CONGRESS

1st Session

H. R. 1873

To amend the Internal Revenue Code of 1986 to provide that the deduction for the health insurance costs of self-employed individuals be allowed in determining self-employment tax.

IN THE HOUSE OF REPRESENTATIVES

April 30, 2003

Mr. MANZULLO (for himself and Ms. VELAZQUEZ) introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to provide that the deduction for the health insurance costs of self-employed individuals be allowed in determining self-employment tax.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the `Self-Employed Health Care Affordability Act of 2003'.

SEC. 2. SECA TAX DEDUCTION FOR HEALTH INSURANCE COSTS.

(a) IN GENERAL- Subsection (l) of section 162 of the Internal Revenue Code of 1986 (relating to special rules for health insurance costs of self-employed individuals) is amended by striking paragraph (4) and by redesignating paragraph (5) as paragraph (4).

(b) EFFECTIVE DATE- The amendment made by this section shall apply to taxable years beginning after the date of the enactment of this Act.

(c) SOCIAL SECURITY TRUST FUNDS HELD HARMLESS- There are hereby appropriated (out of any money in the Treasury not otherwise appropriated) for each fiscal year to each fund under the Social Security Act an amount equal to the reduction in the transfers to such fund for such fiscal year by reason of the amendment made by this section.