1997 Regular Session

HOUSE BILL 1027

File Code: Miscellaneous Crossfiled with: SENATE BILL 30
Sponsored By:
Delegates Redmer, Rzepkowski, Elliott, Crumlin, Finifter, Ports, McKee, Baldwin, Eckardt, Walkup, Kittleman, DeCarlo, Dewberry, Morhaim, Klausmeier, Beck, M. Burns, Jacobs, and Preis
Entitled:
Tax Credit for Employer-Provided Long-Term Care Insurance

Synopsis:

Allowing credits against the State income tax, insurance premiums tax, financial institution franchise tax, and public service company franchise tax for 5% of the costs incurred by employers to provide long-term care insurance as part of an employee benefit package, subject to a maximum of the lesser of $5,000 or $100 for each employee covered by long-term care insurance provided under the employee benefit package; providing for the carryover of unused credit; and applying the Act to tax years after 1997.

Legislative History

House Action
2/3
First Reading Ways and Means
2/5
Hearing 2/18 at 3:00 p.m.
3/18
Unfavorable Report by Ways and Means
Senate Action
No Action
Sponsored by:
Delegate Alfred W. Redmer, Jr., District 8
Delegate Robert C. Baldwin, District 33
Delegate Raymond Beck, District 39
Delegate Michael W. Burns, District 32
Delegate Michael A. Crumlin, District 25
Delegate Diane DeCarlo, District 6
Delegate Thomas E. Dewberry, District 47B
Delegate Adelaide C. Eckardt, District 37B
Delegate Donald B. Elliott, District 4B
Delegate Michael J. Finifter, District 11
Delegate Nancy Jacobs, District 34
Delegate Robert H. Kittleman, District 14B
Delegate Katherine Klausmeier, District 8
Delegate Robert A. McKee, District 2A
Delegate Dan K. Morhaim, District 11
Delegate James F. Ports, Jr., District 8
Delegate Mary Louise Preis, District 34
Delegate James E. Rzepkowski, District 32
Delegate Mary Roe Walkup, District 36
Bill indexed under the following Subjects:
FINANCIAL INSTITUTIONS -see also- BANKS & TRUST CO; CREDIT U
FRANCHISES
HEALTH INSURANCE -see also- HMO; MANAGED CARE ORGANIZATIONS.
INCOME TAX
INSURANCE -see also- HEALTH INSURANCE; MOTOR VEHICLE INS
LONG TERM CARE
REVENUE AND TAXES -see also specific taxes -
TAX CREDITS
UTILITIES -see also- HIGH VOLTAGE LINES; TELEPHONES
WORK, LABOR AND EMPLOYMENT -see also- LEAVE; OVERTIME
Bill affects the following Statutes:
Insurance
( 6-115 )
Tax - General
( 8-216 , 8-413 , 10-708 )

Documents:

Bill Text:
First Reading (PDF), Third Reading, Enrolled
Fiscal Note: Available (PDF)