Income tax: health savings account.

The Personal Income Tax Law authorizes various deductions in computing income that is subject to tax under that law. This bill would state the intent of the Legislature to enact legislation to allow a deduction in connection with health savings accounts in conformity with federal law, and to provide related conformity to federal law with respect to treatment of the account as a tax-exempt trust, the allowance of rollovers from Archer Medical Savings Accounts to a health savings account, and penalties in connection therewith.