Bill
Bill > S05067
NY S05067
NY S05067Provides 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
02/22/2023
02/22/2023
In Committee
01/03/2024
01/03/2024
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
2023-2024 General Assembly
Bill Summary
AN ACT to amend the tax law and the insurance law, in relation to the tax credits for premiums paid for long-term care insurance
AI Summary
This bill amends the tax law and insurance law to provide that the tax credits for long-term health care insurance premiums shall be up to $1,000 for each policy of such insurance, rather than the previous 20% of the premium paid. The bill also clarifies that the long-term care insurance policy must be approved by the superintendent pursuant to the insurance law in order to qualify for the tax credit. The bill takes effect on January 1 of the year following its enactment.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
REFERRED TO INVESTIGATIONS AND GOVERNMENT OPERATIONS (on 01/03/2024)
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/2023/S5067 |
| BillText | https://assembly.state.ny.us/leg/?default_fld=&bn=S05067&term=2023&Summary=Y&Actions=Y&Text=Y&Committee%26nbspVotes=Y&Floor%26nbspVotes=Y#S05067 |
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