Bill Summary & Status for the 106th Congress

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S.825
Sponsor: Sen Durbin, Richard J.(introduced 4/15/1999)
Latest Major Action: 4/15/1999 Referred to Senate committee
Title: A bill to amend the Internal Revenue Code of 1986 to allow small business employers a credit against income tax for employee health insurance expenses paid or incurred by the employer.
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TITLE(S):  (italics indicate a title for a portion of a bill)
STATUS: (color indicates Senate actions) (Floor Actions/Congressional Record Page References)
4/15/1999:
Read twice and referred to the Committee on Finance.
COMMITTEE(S):
RELATED BILL DETAILS:

***NONE***

AMENDMENT(S):

***NONE***

COSPONSORS(1), ALPHABETICAL [followed by Cosponsors withdrawn]:     (Sort: by date)

Sen Schumer, Charles E. - 4/15/1999

SUMMARY AS OF:
4/15/1999--Introduced.

Amends the Internal Revenue Code to allow small business employers a credit against income tax for employee health insurance expenses the employer pays or incurs. Allows a credit equal to 60 percent of expenses (up to $600 per employee) for self-only coverage and 70 percent of expenses (up to $1,200 per employee) for family coverage. Limits such credit to expenses paid for an employee whose total annual wages range between $5,000 and $16,000, indexed for inflation.