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MN SF1337
Bill
Status
Introduced
2/13/2025
Primary Sponsor
Glenn Gruenhagen
Click for details
AI Summary
- Increases the maximum long-term care insurance tax credit per qualified beneficiary from $100 to $250
- Raises the maximum total annual credit for married couples filing jointly from $200 to $500
- Raises the maximum total annual credit for all other filers from $100 to $250
- Changes the credit calculation from 25% of premiums to the full amount of premiums paid (to the extent not deducted from taxable income)
- Effective for taxable years beginning after December 31, 2024
Legislative Description
Long-term care insurance income tax credit expansion
Last Action
Referred to Taxes
2/13/2025
Committee Referrals
Taxes2/13/2025
Full Bill Text
No bill text available