HB 25-1045 CO
Modify Long-Term Care Insurance Income Tax Credit
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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.)
Sponsors (2)
- Junie Joseph Democratic · primary
- Larry Liston Republican · primary
3 coauthors / cosponsors
- L. Frizell Republican · cosponsor
- K. Mullica Democratic · cosponsor
- M. Weissman Democratic · cosponsor
Action history (2)
- Jan 27, 2025 House Committee on Finance Postpone Indefinitely · lower
- Jan 8, 2025 Introduced In House - Assigned to Finance · lower
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