2005 Regular Session
To: Ways and Means
By: Representative Fleming, Barnett, Bondurant, Masterson
AN ACT TO PROVIDE AN INCOME TAX CREDIT FOR PHYSICIANS WHO INCUR EXPENSES FOR TREATING MEDICALLY INDIGENT OR UNINSURED PATIENTS; TO LIMIT THE AMOUNT OF THE INCOME TAX CREDIT THAT MAY BE CLAIMED BY A TAXPAYER; TO PROVIDE THAT A TAXPAYER MUST PROVIDE CERTAIN INFORMATION TO THE STATE TAX COMMISSION IN ORDER TO RECEIVE THE INCOME TAX CREDIT; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. (1) For the purposes of this section, the term "medically indigent or uninsured patient" means a patient who is not eligible for Medicaid, Medicare or any other type of governmental reimbursement for health care costs, does not have private or employer-sponsored health insurance coverage, and is unable to pay the costs of health care services received.
(2) Subject to the provisions of this section, for a licensed physician who incurs expenses for treating medically indigent or uninsured patients, a credit against the taxes imposed by this chapter shall be allowed for not more than twenty-five percent (25%) of the aggregate amount of those expenses for which the physician does not receive payment or reimbursement. However, the maximum aggregate income tax credit that may be claimed by a taxpayer for a taxable year shall not exceed the amount of income tax imposed upon the taxpayer for the taxable year reduced by the sum of all other credits allowable to the taxpayer under the state income tax laws, except credit for tax payments made by or on behalf of the taxpayer.
(3) To obtain the credit provided for in this section, a taxpayer must provide to the State Tax Commission proof of the expenses incurred for which the credit is claimed and any other information required by the State Tax Commission.
SECTION 2. Section 1 of this act shall be codified as a separate section in Chapter 7, Title 27, Mississippi Code of 1972.
SECTION 3. Nothing in this act shall affect or defeat any claim, assessment, appeal, suit, right or cause of action for taxes due or accrued under the income tax laws before the date on which this act becomes effective, whether those claims, assessments, appeals, suits or actions have been begun before the date on which this act becomes effective or are begun after; and the provisions of the income tax laws are expressly continued in full force, effect and operation for the purpose of the assessment, collection and enrollment of liens for any taxes due or accrued and the execution of any warrant under those laws before the date on which this act becomes effective, and for the imposition of any penalties, forfeitures or claims for failure to comply with those laws.
SECTION 4. This act shall take effect and be in force from and after January 1, 2005.