HB101 Alabama 2010 Session
In Committee
Bill Summary
Sponsors
Session
Regular Session 2010
Title
Medical savings accounts, established, limits on deductible amounts contributed, interest excluded from gross income, use of funds, withdrawals, distribution upon death of account holder, Medical Savings Account Act
Description
<p class="bill_description"> Existing law recognizes only certain
federal exclusions from income and does not provide
tax relief for medical savings accounts</p><p class="bill_description">
This bill would provide for the
establishment of a medical savings account</p><p class="bill_description">
This bill would impose limits on deductible
amounts contributed to a medical savings account</p><p class="bill_description">
This bill would provide that interest earned
on the medical savings account would be excluded
from gross income</p><p class="bill_description"> This bill would provide for the use of the
funds in the medical savings account, the
distribution of funds in account upon death of
account holder, and the withdrawals from the
medical savings account by the account holder</p><p class="bill_entitled_an_act"> Relating to medical savings accounts; to provide for
the establishment of medical savings accounts; to impose
limits on deductible amounts contributed to a medical savings
account; to provide that interest earned on the medical
savings account would be excluded from gross income; and to
provide for the use of the funds in the medical savings
account, the distribution of funds in account upon death of
account holder, and the withdrawals from the medical savings
account by the account holder.
</p>
Subjects
Medical Savings Accounts
Bill Actions
| Action Date | Chamber | Action |
|---|---|---|
| January 12, 2010 | Read for the first time and referred to the House of Representatives committee on Education Appropriations |
Bill Text
Bill Documents
| Type | Link |
|---|---|
| Bill Text | HB101 Alabama 2010 Session - Introduced |