1997 Regular Session

SENATE BILL 29

File Code: Income Crossfiled with: HOUSE BILL 1026
Sponsored By:
Senators Hollinger and Teitelbaum
Entitled:
Income Tax - Credit for Long-Term Care Insurance Premiums

Synopsis:

Allowing an individual a credit against the State income tax in an amount equal to 5% of the eligible long-term care insurance premiums paid by the individual for long-term care insurance covering the individual or the individual's spouse or dependent; providing that the credit does not affect the Maryland income tax treatment of any deduction or exclusion allowed for federal income tax purposes for the eligible long-term care premiums; and applying the Act to tax years beginning after 1996.

Legislative History

Senate Action
10/23
Pre-filed
1/8
First Reading Budget and Taxation
Hearing 1/15 at 2:00 p.m.
3/10
Unfavorable Report by Budget and Taxation
House Action
No Action
Sponsored by:
Senator Paula Colodny Hollinger, District 11
Senator Leonard H. Teitelbaum, District 19
Bill indexed under the following Subjects:
HEALTH INSURANCE -see also- HMO; MANAGED CARE ORGANIZATIONS.
INCOME TAX
INSURANCE -see also- HEALTH INSURANCE; MOTOR VEHICLE INS
LONG TERM CARE
TAX CREDITS
Bill affects the following Statute:
Tax - General
( 10-708 )

Documents:

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