LONG-TERM CARE DEDUCTION
House Bill 4292
Sponsor: Rep. Chris Ward
Committee: Tax Policy
Complete to 8-26-03
A SUMMARY OF HOUSE BILL 4292 AS INTRODUCED 2-27-03
The bill would amend the Income Tax Act to allow taxpayers to deduct from taxable income premiums paid in the tax year to obtain long-term care benefits. The deduction would apply for tax years beginning after December 31, 2002, and would apply to the extent the premiums had not already been deducted in determining adjusted gross income.
MCL 206.30
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This analysis was prepared by nonpartisan House staff for use by House members in their deliberations, and does not constitute an official statement of legislative intent.