Testimony by Ed Bice and Paul Schwartz Before Senate Budget and Taxation Committee on SB 650. Altering a limitation on claiming the income tax credit for eligible long-term care insurance premiums for more than 1 year with respect to the same insured individual; altering the amount of the credit from a one-time $500 credit to a maximum of $250 for a taxable year beginning after December 31, 2019, but before January 1, 2022, and a maximum of $500 for a taxable year beginning after December 31, 2021; and applying the Act to all taxable years beginning after December 31, 2019.

Updated: 2019-03-19