A. The provisions of this act shall also apply to taxpayers who are not receiving preferred federal tax treatment for a health savings account pursuant to Section 223 of the Internal Revenue Code.
B. For taxable years beginning after 2005, a resident of Oklahoma or an employer shall be allowed to deposit contributions to a health savings account. The amount of deposit for each year shall not exceed the maximum contribution amount pursuant to Section 223 of the Internal Revenue Code.
C. Except as provided in Section 6060.18 of this title, the following are exempt from taxation under the Oklahoma Income Tax Act:
1. Principal contributed to and interest earned on a health savings account; and
2. Money reimbursed to an eligible individual or an employee for qualified medical expenses.
Added by Laws 2005, c. 306, § 3, eff. Nov. 1, 2005. Amended by Laws 2007, c. 269, § 2, emerg. eff. June 4, 2007.
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