SECOND REGULAR SESSION
93RD GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVES COOPER (120) (Sponsor), NOLTE, SUTHERLAND, ERVIN, BIVINS, WETER, FLOOK, SANDER, BROWN (30), WILSON (119), MUNZLINGER, MOORE AND SELF (Co-sponsors).
Pre-filed December 20, 2005 and copies ordered printed.
STEPHEN S. DAVIS, Chief Clerk
AN ACT
To repeal section 143.111, RSMo, and to enact in lieu thereof one new section relating to a health insurance premium deduction.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Section 143.111, RSMo, is repealed and one new section enacted in lieu thereof, to be known as section 143.111, to read as follows:
143.111. The Missouri taxable income of a resident shall be such resident's Missouri adjusted gross income less:
(1) Either the Missouri standard deduction or the Missouri itemized deduction;
(2) The Missouri deduction for personal exemptions;
(3) The Missouri deduction for dependency exemptions;
(4) The deduction for federal income taxes provided in section 143.171; [and]
(5) The deduction for a self-employed individual's health insurance costs provided in section 143.113; and
(6) The amount paid by the taxpayer during the taxable year for medical insurance premiums and out-of-pocket medical costs on behalf of the taxpayer, the taxpayer's spouse, and the taxpayer's dependents, to the extent that such amount is not included in the deduction authorized by subdivision (5) of this section and is not deducted on the taxpayer's federal income tax return for that taxable year. For purposes of this subdivision, "out-of-pocket medical costs" means those medical expenses allowable under section 213 of the Internal Revenue Code, as amended, and any federal rulings interpreting such section.
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