Introduced by Representatives Schiavone of Shelburne and Howrigan of Fairfield
Subject: Taxation; income tax; credit for health care providers’ unreimbursed medical services
Statement of purpose: This bill proposes to create an income tax credit for health care providers’ unreimbursed medical services.
AN ACT RELATING TO HEALTH CARE PROVIDERS’ UNREIMBURSED MEDICAL SERVICES INCOME TAX CREDIT
It is hereby enacted by the General Assembly of the State of Vermont:
Sec. 1. Subchapter 11K of Title 32 is added to read:
Subchapter 11K. Health Care Providers’ Tax Credit
§ 5930y. Health Care Providers’ Tax Credit
(a) A health care provider shall be eligible for a credit against his or her income tax imposed by this chapter in an amount equal to 10 percent of the cost of unreimbursed health care services which the provider performed during the taxable year. The credit shall not exceed the total Vermont income tax liability determined without regard to this credit.
(b) In this section:
(1) “Cost of unreimbursed health care services” means the excess of the Vermont Blue Shield scheduled payment allowance, if any, for the health care service provided and the amount actually received for the service by the provider from Vermont Medicaid or from the uninsured patient.
(2) “Unreimbursed health care services” means health care services covered in part or in whole by Vermont Medicaid or provided to an uninsured patient.
Sec. 2. EFFECTIVE DATE
This act shall apply to taxable years 2005 and after.
The Vermont General Assembly
115 State Street