Loading chat...
NY A04180
Bill
Status
2/2/2011
Primary Sponsor
William Barclay
Click for details
AI Summary
-
Expands eligibility for New York's personal income tax credit for long-term care insurance to include policies that qualify under the federal CLASS Act (Community Living Assistance Services and Supports Act)
-
Maintains the existing 20 percent tax credit on premiums paid during the taxable year for long-term care insurance
-
Allows taxpayers to carry over excess credits to subsequent years if the credit exceeds their tax liability for the year
-
Applies to taxable years beginning on or after January 1 of the year following enactment
-
Takes effect immediately upon passage
Legislative Description
Relates to the personal income tax credit for long-term care insurance; allows an individual to qualify pursuant to Title XXXII of the federal Public Health Service Act.
Last Action
held for consideration in ways and means
6/19/2012