Income tax, state; tax credit for health insurance premiums paid by small business employers. (HB479)

Introduced By

Del. Jeff Frederick (R-Woodbridge)

Description

Income tax; tax credit for health insurance premiums paid by small business employers. Provides a tax credit for taxable years beginning on or after January 1, 2007, to employers who pay at least one-half of the annual health insurance premium per employee. The amount of the credit is the lesser of $500 or the amount paid per employee. The total amount of credits available to each employer annually is limited to $25,000. The credits are available to employers with 50 or fewer full-time employees. Amends § 58.1-339.11 (“Long-term care insurance tax credit.”), of the Code of Virginia. View Full Text »

Outcome

No Richmond Sunlight visitors voted on this bill while voting was open.