Income Tax - Credit for Long-Term Care Premiums
Sponsor: Seth A. Howard (District 30B)Committee: Ways and MeansSubject: Taxes - IncomeStatus: Hearing 3/02 at 1:00 p.m. (as of Nov 15, 2022)
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, 2022, but before January 1, 2025, and a maximum of $500 for a taxable year beginning after December 31, 2024; applying the Act to taxable years beginning after December 31, 2022; etc.
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Testimony (4)
MGA witness listFAV 4Favorable
| Position | Witness | Organization | Testimony |
|---|---|---|---|
| FAV | Doyle, Robert | MD Federation of NARFE SLC | Oral + Written (PDF) |
| FAV | Bice, Edward | Individual | Oral |
| FAV | Crespo, Virginialobbyist | Individual | Written (PDF) |
| FAV | Delegate Howard, Delegate Howardlegislator | Individual | Oral |