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Political Matrix
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« on: April 03, 2006, 06:57:19 PM » |
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Large and Mid-Size Corporate Heath Insurance Bill
Sponsor: Senator Brian from Family Guy
Sec 1. Any corporation, partnership, or sole proprietorship in Atlasia that has-
(a) over $20 million in average gross receipts over the past 3 years shall pay at least a 65% portion of their employee's health premiums towards a qualified health insurance plan.
(b) over $100 million in average gross receipts over the past 3 years shall pay at least an 80% portion of their employee's health insurance premiums towards a qualified health insurance plan.
Sec. 2 Tax Credits
(a) Corporate employers who have to comply with these new regulations shall receive a tax credit of 10% of premiums paid on their Form 1120.
(b) Partnership and sole proprietors shall receive a pro rata portion of the 10% credit on their Form 1040 after profits have been distributed.
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