Income Tax - Credit for Long-Term Care Premiums
Sponsor: Seth A. Howard (District 30B)Committee: Ways and MeansSubject: Taxes - IncomeStatus: Hearing 2/29 at 1:00 p.m. (as of Nov 13, 2024)
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, 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.
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Testimony (6)
MGA witness listFAV 5FavorableFWA 1Favorable with amendments
| Position | Witness | Organization | Testimony |
|---|---|---|---|
| FAV | Kendzierski, Philemonlobbyist | League of Life and Health Insurers, American Council of Life Insurers | Written (PDF) |
| FAV | Schwartz, Paul | NARFE | Oral + Written (PDF) |
| FAV | Crespo, Virginialobbyist | Individual | Written (PDF) |
| FAV | Delegate Howard, Delegate Howardlegislator | Individual | Oral |
| FAV | Harris, Mrs. | Individual | Position only |
| FWA | Cross, Cashenna | NAACP | Oral |
Organizations on record
Registered lobbyists who testified
FAVKendzierski, PhilemonLeague of Life and Health Insurers, American Council of Life InsurersRegistered for: 38 Degrees North; Advanced Energy United; Alliance of Maryland Dental Plans; Allstate Insurance Company; America's Health Insurance Plans; American Council of Life Insurers…