DES MOINES, Iowa (AP) — The Iowa Senate voted 50-0 Monday to approve Senate File 449, a bill that would provide a tax break for small businesses that help employees pay for health insurance.
Under the Patient Protection and Affordable Care Act (PPACA), a small business that employs up to 24 people and chooses to cover 50 percent of their employees' health insurance costs can qualify for a federal income tax break.
If S.F. 449 is implemented as written, the same businesses would get an additional state income tax break, worth a quarter of the federal savings.
