SB0432

Find a 2017 Bill:

2017 Regular Session

 

Entitled:

Income Tax - Credit for Long-Term Care Premiums

Sponsored by:

Senator Klausmeier

Status:

In the Senate - Hearing 2/15 at 1:00 p.m.


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 taxable years beginning January 1, 2018, and January 1, 2019, and a maximum of $500 for the taxable year beginning January 1, 2020, and for each taxable year thereafter; and applying the Act to all taxable years beginning after December 31, 2017.
Analysis:Fiscal and Policy Note
All Sponsors:Senators Klausmeier, Benson, Eckardt, Edwards, Kelley, Manno, Middleton, Muse, Peters, Rosapepe, Salling, and Young
Additional Facts:Introduced in a prior session as: SB0896 Session: 2016 Regular Session
Bill File Type: Regular
Effective Date(s): July 1, 2017
Committee(s):
Budget and Taxation  View Committee Hearing
Broad Subject(s):Taxes - Income
Narrow Subject(s):Health Insurance -see also- HMOS; Managed Care Organizations
Income Tax
Insurance Administration
Long-Term Care -see also- Continuing Care; Nursing Homes
Tax Credits
Statutes:Article - Tax - General
(10-718)

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February 16, 2017 12:45 P.M.