MD HB1276

Reduces the maximum State income tax credit for long-term care insurance premiums from $500 to $250 per insured individual for taxable years beginning after December 31, 2025

Adds a new age requirement that the insured individual must be at least 45 years old to qualify for the credit

Resets eligibility so the credit cannot be claimed for individuals who had long-term care insurance before January 1, 2026, or who had the credit claimed for them in any taxable year before January 1, 2026

Taxpayers may claim the credit for premiums paid for coverage of themselves, their spouse, parent, stepparent, child, or stepchild

Takes effect July 1, 2025, and applies to taxable years beginning after December 31, 2025