Medicare; reduction tax credit. (SB5008)

Introduced By

Sen. Bill Stanley (R-Moneta)

Description

Medicare reduction tax credit. Creates a tax credit for hospitals in the Commonwealth who provide free or reduced-cost health care. The amount of the credit is equal to the amount of expenses incurred by the hospital related to the free or reduced-cost care, not to exceed the difference between the amount of Medicare reimbursements received by the hospital before and after changes implemented by the federal Patient Protection and Affordable Care Act. The aggregate number of credits issued in a given year shall not exceed the total reduction of Medicare reimbursements to all hospitals in the Commonwealth. The credit would be available for taxable years 2014, 2015, and 2016. Read the Bill »

Status

09/18/2014: Awaiting a Vote in the Finance and Appropriations Committee

History