New York Assembly Bill A04093 Latest Draft

   
  STATE OF NEW YORK ________________________________________________________________________ 4093 2025-2026 Regular Sessions  IN ASSEMBLY January 31, 2025 ___________ Introduced by M. of A. STERN -- read once and referred to the Committee on Ways and Means AN ACT to amend the tax law, in relation to providing for a personal income tax deduction for long term care insurance riders The People of the State of New York, represented in Senate and Assem- bly, do enact as follows: 1 Section 1. Subsection (c) of section 612 of the tax law is amended by 2 adding a new paragraph 48 to read as follows: 3 (48) The portion of the premiums paid during the taxable year by a 4 taxpayer attributable to the cost of a long term care insurance rider 5 under a life insurance policy. 6 § 2. This act shall take effect immediately and shall apply to taxable 7 years commencing on or after the first of January in the year in which 8 it shall have become a law. EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD01474-01-5