LCO No. 2305 1 of 1
General Assembly Proposed Bill No. 5439
January Session, 2025
LCO No. 2305
Referred to Committee on INSURANCE AND REAL ESTATE
Introduced by:
REP. HUGHES, 135th Dist.
AN ACT ESTABLISHING A TAX CREDIT FOR PREMIUM PAYMENTS
FOR CERTAIN LONG-TERM CARE INSURANCE POLICIES.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:
That the general statutes be amended to establish a tax credit up to 1
twenty per cent of premiums paid to purchase an individual or group 2
long-term care insurance policy during a taxable year, and allow long-3
term care policyholders to carry over to future taxable years any amount 4
that is in excess of such policyholder's tax liability for a taxable year. 5
Statement of Purpose:
To establish a tax credit up to twenty per cent of premiums paid to
purchase an individual or group long-term care insurance policy during
a taxable year, and allow long-term care policyholders to carry over to
future taxable years any amount that is in excess of such policyholder's
tax liability for a taxable year.