Bill
Bill > A06991
NY A06991
NY A06991Provides that the tax credits for long-term health care insurance shall be up to $1,000 of the premiums paid for each policy of such insurance.
summary
Introduced
04/19/2021
04/19/2021
In Committee
01/05/2022
01/05/2022
Crossed Over
Passed
Dead
12/31/2022
12/31/2022
Introduced Session
2021-2022 General Assembly
Bill Summary
Provides that the tax credits for long-term health care insurance shall be up to $1,000 of the premiums paid for each policy of such insurance.
AI Summary
This bill amends the New York State tax law to provide tax credits for long-term health care insurance premiums up to $1,000 per policy, replacing the previous 20% credit. The bill applies to various sections of the tax law, including the Personal Income Tax, the Corporation Franchise Tax, and the Insurance Corporation Franchise Tax. The bill also clarifies the requirements for long-term care insurance policies to qualify for the tax credit, including that they must be approved by the state Superintendent of Insurance.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
referred to ways and means (on 01/05/2022)
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://www.nysenate.gov/legislation/bills/2021/A6991 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=A06991&term=2021&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#A06991 |
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