1997 Regular Session

SENATE BILL 30

File Code: Miscellaneous Crossfiled with: HOUSE BILL 1027
Sponsored By:
Senators Hollinger and Teitelbaum
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 benefits 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

Senate Action
9/5
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:
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)