INC TX-DEDUCT-LONG TERM CARE
Synopsis of Bill as introduced:
Amends the Illinois Income Tax Act. Creates an income tax
deduction for individuals in an amount of up to $500 for premiums paid
by a qualifying individual on a long-term care insurance policy.
Provides that a qualifying individual has an annual household income
of less than $60,000. Applicable to tax years beginning on or after
January 1, 1997. Sunsets the deduction after 5 years.
Last action on Bill: SESSION SINE DIE
Last action date: 99-01-12
Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0
END OF INQUIRY
Full Text Bill Status