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NY A08703
Bill
Status
Introduced
1/13/2016
Primary Sponsor
Mark Gjonaj
Click for details
AI Summary
- Allows a tax credit equal to twenty percent of premiums paid during the taxable year for long-term care insurance or qualified life insurance policy riders
- Extends the credit to policy riders issued under specific subsections (C), (D), (E), or (F) of Section 1113 of the Insurance Law
- Requires that premium payments be for purchase of or continued coverage under a long-term care insurance policy that qualifies pursuant to Section 1117 of the Insurance Law
- Applies the credit provisions to both personal income tax (Section 190) and corporate tax (Section 210-B)
Legislative Description
Establishes tax credits for premiums paid for life insurance which is used for long term health care.
Last Action
substituted by s6369
6/14/2016
Committee Referrals
Rules6/7/2016
Ways and Means1/13/2016
Full Bill Text
No bill text available