Income Tax - Credit for Long-Term Care Premiums
Sponsor: Senator KlausmeierCommittee: Budget and TaxationSubject: Taxes - IncomeStatus: Hearing 3/11 at 1:00 p.m. (as of Nov 6, 2020)
What this bill does
Official 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, 2020, but before January 1, 2023, and a maximum of $500 for a taxable year beginning after December 31, 2022; and applying the Act to all taxable years beginning after December 31, 2020.
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Testimony (9)
MGA witness listFAV 8FavorableINFO 1Information only
| Position | Witness | Organization | Testimony |
|---|---|---|---|
| FAV | Celentano, Matt | League of Life and Health Insurers of M` | Oral |
| FAV | Crespo, Virginialobbyist | MRSPA | Oral + Written (PDF) |
| FAV | Doyle, Robert | NARFE | Position only |
| FAV | Doyle, Robert | NARFE | Written (PDF) |
| FAV | bice, edward | Narfe | Position only |
| FAV | Bice, Ed | Individual | Written (PDF) |
| FAV | Senator Klausmeier, Senator Klausmeierlegislator | Individual | Position only |
| FAV | Siggins, Kathy | Individual | Written (PDF) |
| INFO | Wilson, Lara | Maryland Rural Health Association | Written (PDF) |