- Title
- Income Tax - Credit for Long-Term Care Premiums
- Sponsored by
- Delegates Howard, Alston, Arentz, Bagnall, Buckel, Conaway, Griffith, Hartman, Hornberger, Jacobs, McComas, Miller, T. Morgan, Otto, Reilly, Rose, Stonko, Taylor, and Tomlinson
- Status
- In the House - Hearing 2/29 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, 2024, but before January 1, 2027, and a maximum of $500 for a taxable year beginning after December 31, 2026; and applying the Act to taxable years beginning after December 31, 2024.
Committees
- Original:
- Ways and Means Click to view Recorded Media
Committee Testimony
Details
Introduced in a prior session as: HB1185 Session: 2023 Regular Session
Bill File Type: Regular
Effective Date(s): July 1, 2024
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Last Updated: 4/15/2024 3:01 PM