2007 -- S 0448 SUBSTITUTE B
A N A C T
RELATING TO INSURANCE -- ESTABLISHING A HEALTH INSURANCE TAX INCENTIVE
Introduced By: Senators Perry, Miller, C Levesque, Sosnowski, and Gibbs
Date Introduced: February 13, 2007
It is enacted by the General Assembly as follows:
SECTION 1. Title 27 of the General Laws entitled "INSURANCE" is hereby amended
by adding thereto the following chapter:
HEALTH INSURANCE TAX INCENTIVE
27-70-1. Short title. -- This chapter shall be known and may be cited as "The Health
Insurance Tax Incentive".
27-70-2. Definitions. -- As used in this chapter:
(1) "Employee" has the meaning set forth in subsection 28-42-3(14).
(2) "Employer" has the meaning set forth in subsection 28-42-3(15).
27-70-3. Cafeteria plans. -- On or before July 1, 2009, each employer with annual
average employment of more than twenty-five (25) employees for six (6) consecutive months of
the year in the state of Rhode Island shall adopt and maintain for its employees a cafeteria plan
that satisfies the Internal Revenue Code 26 U.S.C. 125 and the rules and regulations promulgated
by the office of the health insurance commissioner and through which the employees and their
dependents may purchase health insurance. Nothing in this section shall be construed to require
an employer covered by this section to pay for, or otherwise contribute to, the cost of any health
insurance purchased through the cafeteria plan.
27-70-4. Regulatory Oversight. -- The director of the department of labor and training
shall have the authority to promulgate rules and regulations for the implementation and
administration of this chapter.
SECTION 2. This act shall take effect upon passage.