Key Votes

HB 248 - Income Tax Credit for Long-Term Care Insurance - Key Vote

Montana Key Votes

Stages

Family

Issues

Note

NOTE: THIS IS A SECOND READING VOTE TO CUT OFF DEBATE ON THE BILL AND ADVANCE IT TO THE THIRD READING IN WHICH AN UP-OR-DOWN VOTE FOR PASSAGE WILL OCCUR.

Stage Details

Legislation - Bill Failed (House) (44-56) - (Key vote)

Title: Income Tax Credit for Long-Term Care Insurance

Vote Smart's Synopsis:

Vote to pass a bill that establishes an income tax credit equal to 50 percent of premium payments made for long-term care insurance policies.

Highlights:
  • Establishes an income tax credit equal to 50 percent of premium payments made for long-term care insurance policies or certificates (Sec. 1).
  • Specifies that the income tax credits may not (Sec. 1):
    • Exceed $150 for each taxpayer;
    • Be claimed by a taxpayer if the taxpayer has included the amount of the premium payment as a deduction;
    • Be claimed for premiums paid from a health savings account or medical care savings account with principal or interest that is excluded from adjusted gross income; and
    • Exceed the taxpayer's income tax liability.
  • This act applies retroactively to tax years beginning after December 31, 2010 (Sec. 5).
Legislation - Introduced (House) -

Title: Income Tax Credit for Long-Term Care Insurance

Sponsors