❌ HB341
Authorize tax credit for assisted reproduction insurance coverage
Summary
The bill authorizes a nonrefundable income tax credit for employers who subsidize employee insurance coverage for assisted reproduction. The credit amount varies based on the number of full-time equivalent employees, with a maximum of $50,000 for employers with fewer than 50 employees and $500,000 for those with 50 or more. The bill applies to taxable years ending on or after its effective date.
Rationale
The bill introduces a government subsidy through tax credits, which conflicts with the Libertarian principles of minimal government intervention and free market economics. It promotes government involvement in private employment contracts and insurance decisions, which is contrary to the Libertarian Party's stance on economic liberty and limited government.
Risks and Concerns
- Increases government control over private employment decisions
- Encourages dependency on government subsidies
- Potential for cronyism in the allocation of tax credits