Increases the amount of the credit against taxes for long-term care insurance from twenty to forty percent and from one thousand five hundred dollars to two thousand five hundred dollars.
STATE OF NEW YORK
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8911
IN SENATE
January 14, 2026
___________
Introduced by Sen. HELMING -- read twice and ordered printed, and when
printed to be committed to the Committee on Investigations and Govern-
ment Operations
AN ACT to amend the tax law, in relation to 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. Subdivision 1 of section 190 of the tax law, as amended by
2 section 102 of part A of chapter 59 of the laws of 2014, is amended to
3 read as follows:
4 1. General. A taxpayer shall be allowed a credit against the tax
5 imposed by this article equal to [twenty] forty percent of the premium
6 paid during the taxable year for long-term care insurance. In order to
7 qualify 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. Paragraph 1 of subsection (aa) of section 606 of the tax law, as
12 amended by section 1 of part E of chapter 59 of the laws of 2020, is
13 amended to read as follows:
14 (1) Residents. There shall be allowed a credit against the tax imposed
15 by this article in an amount equal to [twenty] forty percent of the
16 premiums paid during the taxable year for long-term care insurance. The
17 credit amount shall not exceed [one] two thousand five hundred dollars
18 and shall be allowed only if the amount of New York adjusted gross
19 income required to be reported on the return is less than two hundred
20 fifty thousand dollars. In order to qualify for such credit, the taxpay-
21 er's premium payment must be for the purchase of or for continuing
22 coverage under a long-term care insurance policy that qualifies for such
23 credit pursuant to section one thousand one hundred seventeen of the
24 insurance law. If the amount of the credit allowable under this
25 subsection for any taxable year shall exceed the taxpayer's tax for such
26 year, the excess may be carried over to the following year or years and
27 may be deducted from the taxpayer's tax for such year or years.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[] is old law to be omitted.
LBD14198-01-5
S. 8911 2
1 § 3. Paragraph (a) of subdivision 14 of section 210-B of the tax law,
2 as added by section 17 of part A of chapter 59 of the laws of 2014, is
3 amended to read as follows:
4 (a) General. A taxpayer shall be allowed a credit against the tax
5 imposed by this article equal to [twenty] forty percent of the premium
6 paid during the taxable year for long-term care insurance. In order to
7 qualify 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 § 4. This act shall take effect immediately.
