A00270 Summary:

BILL NOA00270
 
SAME ASNo same as
 
SPONSORMontesano (MS)
 
COSPNSRKolb, Burling, Oaks, Hawley, Saladino, Raia, McDonough, Calhoun, McKevitt, Castelli, Stevenson, Barclay
 
MLTSPNSRCastro, Corwin, Crouch, Curran, Duprey, Johns, Jordan, McLaughlin, Murray, Palmesano, Ra, Sayward, Tedisco, Tenney, Walter
 
Amd S210, Tax L
 
Increases tax credit allowed for the premium paid for long-term care insurance from 20 to 25% .
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A00270 Actions:

BILL NOA00270
 
01/05/2011referred to ways and means
01/04/2012referred to ways and means
06/19/2012held for consideration in ways and means
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A00270 Floor Votes:

There are no votes for this bill in this legislative session.
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A00270 Text:



 
                STATE OF NEW YORK
        ________________________________________________________________________
 
                                           270
 
                               2011-2012 Regular Sessions
 
                   IN ASSEMBLY
 
                                       (Prefiled)
 
                                     January 5, 2011
                                       ___________
 
        Introduced  by  M.  of A. MONTESANO, KOLB, BURLING, OAKS, HAYES, HAWLEY,
          SALADINO, RAIA, McDONOUGH, CALHOUN, McKEVITT -- Multi-Sponsored by  --
          M.  of  A. BARCLAY, CASTRO, CORWIN, CROUCH, DUPREY, JORDAN, MAYERSOHN,
          MOLINARO, SAYWARD, TEDISCO -- read once and referred to the  Committee

          on Ways and Means
 
        AN  ACT  to amend the tax law, in relation to the tax credit allowed for
          the premium paid for long-term care insurance
 
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
 
     1    Section 1. Paragraph (a) of subdivision 25-a of section 210 of the tax
     2  law,  as  amended  by  section 18 of part B of chapter 58 of the laws of
     3  2004, is amended to read as follows:
     4    (a) A taxpayer shall be allowed a credit against the  tax  imposed  by
     5  this  article  equal to [twenty] twenty-five percent of the premium paid
     6  during the taxable year for long-term care insurance. In order to quali-
     7  fy for such credit, the taxpayer's  premium  payment  must  be  for  the
     8  purchase  of or for continuing coverage under a long-term care insurance

     9  policy that qualifies for such credit pursuant to section  one  thousand
    10  one hundred seventeen of the insurance law.
    11    §  2. This act shall take effect on the first of January next succeed-
    12  ing the date on which it shall have become a law and shall apply to  all
    13  subsequent tax years.
 
 
 
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD02289-01-1
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