summary
Introduced
03/29/2021
03/29/2021
In Committee
03/29/2021
03/29/2021
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
192nd General Court
Bill Summary
Relative to long term care insurance tax credits. Revenue.
AI Summary
This bill aims to establish a tax credit for individuals who purchase long-term care insurance policies. Specifically, the bill proposes to allow individuals eligible for a long-term care insurance policy to claim a tax credit equal to 20% of the premiums paid on their state income tax return. The bill also requires individuals claiming the credit to provide information as requested by the Department of Revenue, and authorizes the Department to promulgate regulations to implement the new tax credit provision. The bill is set to take effect for taxable years ending on or after December 31, 2021.
Committee Categories
Budget and Finance
Sponsors (5)
Last Action
Accompanied a study order, see H5245 (on 09/22/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/192/H3020 |
| Bill | https://malegislature.gov/Bills/192/H3020.pdf |
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