Passed BothConf. Cmte
- Income Tax - Credit for Long-Term Care Premiums
- Sponsored by
- Senators Klausmeier, Eckardt, Edwards, Guzzone, Hayes, Kramer, Lee, Patterson, Peters, Reilly, Rosapepe, Washington, Young, and Zucker
- In the Senate - Hearing 3/13 at 1:00 p.m.
- Fiscal and Policy Note
Altering a limitation on claiming the income tax credit for eligible long-term care insurance premiums for more than 1 year with respect to the same insured individual; altering the amount of the credit from a one-time $500 credit to a maximum of $250 for a taxable year beginning after December 31, 2019, but before January 1, 2022, and a maximum of $500 for a taxable year beginning after December 31, 2021; and applying the Act to all taxable years beginning after December 31, 2019.
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Last Updated: 2/3/2020 2:34 PM