HB 25-1045: Modify Long-Term Care Insurance Income Tax Credit

Summary

Legislative Oversight Committee Concerning Tax Policy. For income tax years commencing on or after January 1, 2025, the bill both: Increases the amount of federal taxable income a taxpayer may have and still qualify for the state income tax credit for purchasing long-term care insurance and annually adjusts that federal taxable income amount for inflation; and Doubles the amount of the credit a taxpayer may claim and, for income tax years commencing on or after January 1, 2026, annually adjusts the credit amount for inflation. (Note: This summary applies to this bill as introduced.)

Latest recorded action

House Committee on Finance Postpone Indefinitely

Jan 27, 2025

This is the latest action supplied by the source, not the full legislative history.

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