Policy Documents

Long-Term Care Tax Credit Act

September 12, 1999

In this model legislation, the bill states that 

A taxpayer shall be allowed a credit against the state income tax in an amount equal to 10 percent to 20 percent of the premium costs paid during the taxable year for a long-term care insurance policy that offers coverage to either the individual, the individual’s spouse, or a dependent for whom the individual was allowed to deduct a personal exemption for the taxable year.