(1) As used in this section: (a) "Claimant with dependents" means a claimant: (i) regardless of the claimant's filing status for purposes of filing a federal individual income tax return for the taxable year; and (ii) who claims one or more dependents under Section 151, Internal Revenue Code, as allowed on the claimant's federal individual income tax return for the taxable year. (b) "Eligible insured individual" means: (i) the claimant who is insured under a health benefit plan; (ii) the spouse of the claimant described in Subsection (1)(b)(i) if: (A) the claimant files a single return jointly under this chapter with the claimant's spouse for the taxable year; and (B) the spouse is insured under the health benefit plan described in Subsection (1)(b)(i); or (iii) a dependent of the claimant described in Subsection (1)(b)(i) if: (A) the claimant claims the dependent under Section 151, Internal Revenue Code, as allowed on the claimant's federal individual income tax return for the taxable year; and (B) the dependent is insured under the health benefit plan described in Subsection (1)(b)(i). (c) "Excluded expenses" means an amount a claimant pays for insurance offered under a health benefit plan for a taxable year if: (i) the claimant claims a tax credit for that amount under Section 35, Internal Revenue Code: (A) on the claimant's federal individual income tax return for the taxable year; and (B) with respect to an eligible insured individual; (ii) the claimant deducts that amount under Section 162 or 213, Internal Revenue Code: (A) on the claimant's federal individual income tax return for the taxable year; and (B) with respect to an eligible insured individual; or (iii) the claimant excludes that amount from gross income under Section 106 or 125, Internal Revenue Code, with respect to an eligible insured individual. (d) (i) "Health benefit plan" is as defined in Section 31A-1-301. (ii) "Health benefit plan" does not include equivalent self-insurance as defined by the Insurance Department by rule made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act. (e) "Joint claimant with no dependents" means a husband and wife who: (i) file a single return jointly under this chapter for the taxable year; and (ii) do not claim a dependent under Section 151, Internal Revenue Code, on the husband's and wife's federal individual income tax return for the taxable year. (f) "Single claimant with no dependents" means: (i) a single individual who: (A) files a single federal individual income tax return for the taxable year; and (B) does not claim a dependent under Section 151, Internal Revenue Code, on the single individual's federal individual income tax return for the taxable year; (ii) a head of household: (A) as defined in Section 2(b), Internal Revenue Code, who files a single federal individual income tax return for the taxable year; and (B) who does not claim a dependent under Section 151, Internal Revenue Code, on the head of household's federal individual income tax return for the taxable year; or (iii) a married individual who: (A) does not file a single federal individual income tax return jointly with that married individual's spouse for the taxable year; and (B) does not claim a dependent under Section 151, Internal Revenue Code, on that married individual's federal individual income tax return for the taxable year. (2) Subject to Subsection (3), and except as provided in Subsection (4), for taxable years beginning on or after January 1, 2009, a claimant may claim a nonrefundable tax credit equal to the product of: (a) the difference between: (i) the total amount the claimant pays during the taxable year for: (A) insurance offered under a health benefit plan; and (B) an eligible insured individual; and (ii) excluded expenses; and (b) the percentage listed in Subsection 59-10-104(2). (3) The maximum amount of a tax credit described in Subsection (2) a claimant may claim on a return for a taxable year is: (a) for a single claimant with no dependents, $300; (b) for a joint claimant with no dependents, $600; or (c) for a claimant with dependents, $900. (4) A claimant may not claim a tax credit under this section if the claimant is eligible to participate in insurance offered under a health benefit plan maintained and funded in whole or in part by: (a) the claimant's employer; or (b) another person's employer. (5) A claimant may not carry forward or carry back a tax credit under this section.
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