Legislation
- Title
- Income Tax - Credit for Long-Term Care Premiums
- Sponsored by
- Senator Klausmeier
- Status
- In the Senate - Hearing 3/11 at 1:00 p.m.
- Analysis
- Fiscal and Policy Note
Synopsis
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, 2020, but before January 1, 2023, and a maximum of $500 for a taxable year beginning after December 31, 2022; and applying the Act to all taxable years beginning after December 31, 2020.
Committees
- Original:
- Budget and Taxation
Committee Testimony
Details
(
10-718 )
Last Updated: 9/22/2020 3:20 PM