Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Feb 08, 2016 |
print number 5671a |
Feb 08, 2016 |
amend (t) and recommit to insurance |
Jan 06, 2016 |
referred to insurance |
Mar 03, 2015 |
referred to insurance |
Assembly Bill A5671A
2015-2016 Legislative Session
Sponsored By
GJONAJ
Archive: Last Bill Status - In Assembly Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Bill Amendments
co-Sponsors
Michael G. Miller
Carmen E. Arroyo
Andrew Raia
Raymond Walter
multi-Sponsors
William A. Barclay
Barbara Clark
Vivian Cook
Dov Hikind
2015-A5671 - Details
2015-A5671 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5671 2015-2016 Regular Sessions I N A S S E M B L Y March 3, 2015 ___________ Introduced by M. of A. GJONAJ -- read once and referred to the Committee on Insurance AN ACT to amend the tax law, in relation to credits for premiums paid for long-term care insurance policies THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 1 of section 190 of the tax law, as amended by section 102 of part A of chapter 59 of the laws of 2014, is amended to read as follows: 1. General. A taxpayer shall be allowed a credit against the tax imposed by this article equal to [twenty percent] THE FOLLOWING PERCENT- AGES of the premium paid during the taxable year for long-term care insurance OR A LIFE INSURANCE POLICY OR POLICY RIDER PURSUANT TO SUBPAR- AGRAPH (C), (D), (E) OR (F) OF PARAGRAPH ONE OF SUBSECTION (A) OF SECTION ONE THOUSAND ONE HUNDRED THIRTEEN OF THE INSURANCE LAW: (A) FORTY PERCENT IF THE INSURED IS LESS THAN FORTY YEARS OF AGE AT THE END OF THE TAX YEAR; (B) THIRTY PERCENT IF THE INSURED IS LESS THAN FIFTY YEARS OF AGE, BUT FORTY OR MORE YEARS OF AGE, AT THE END OF THE TAX YEAR; (C) TWENTY-FIVE PERCENT IF THE INSURED IS LESS THAN FIFTY-FIVE YEARS OF AGE, BUT FIFTY OR MORE YEARS OF AGE, AT THE END OF THE TAX YEAR; OR (D) TWENTY PERCENT IF THE INSURED IS FIFTY-FIVE OR MORE YEARS OF AGE AT THE END OF THE TAX YEAR. In order to qualify for such credit, the taxpayer's premium payment must be for the purchase of or for continuing coverage under a long-term care insurance policy that qualifies for such credit pursuant to section one thousand one hundred seventeen of the insurance law. S 2. Paragraph (a) of subdivision 14 of section 210-B of the tax law, as added by section 17 of part A of chapter 59 of the laws of 2014, is amended to read as follows: EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD07950-01-5
co-Sponsors
Michael G. Miller
Carmen E. Arroyo
Andrew Raia
Raymond Walter
multi-Sponsors
William A. Barclay
Kenneth Blankenbush
Vivian Cook
Dov Hikind
2015-A5671A (ACTIVE) - Details
2015-A5671A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 5671--A 2015-2016 Regular Sessions I N A S S E M B L Y March 3, 2015 ___________ Introduced by M. of A. GJONAJ, MILLER, ARROYO, RAIA, WALTER, SIMON, BENEDETTO, PICHARDO, GRAF, CURRAN, SALADINO, DAVILA, SCHIMEL, ENGLE- BRIGHT, GALEF, GARBARINO -- Multi-Sponsored by -- M. of A. BARCLAY, CLARK, COOK, HIKIND, KEARNS, MAGEE, RIVERA, TITONE -- read once and referred to the Committee on Insurance -- recommitted to the Committee on Insurance in accordance with Assembly Rule 3, sec. 2 -- committee discharged, bill amended, ordered reprinted as amended and recommitted to said committee AN ACT to amend the tax law and the insurance law, in relation to cred- its for premiums paid for long-term care insurance policies THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 1 of section 190 of the tax law, as amended by section 102 of part A of chapter 59 of the laws of 2014, is amended to read as follows: 1. General. A taxpayer shall be allowed a credit against the tax imposed by this article equal to [twenty percent] THE FOLLOWING PERCENT- AGES of the premium paid during the taxable year for long-term care insurance OR FOR A POLICY RIDER TO A LIFE INSURANCE POLICY ISSUED PURSU- ANT TO SUBPARAGRAPH (C), (D), (E) OR (F) OF PARAGRAPH ONE OF SUBSECTION (A) OF SECTION ONE THOUSAND ONE HUNDRED THIRTEEN OF THE INSURANCE LAW: (A) FORTY PERCENT IF THE INSURED IS LESS THAN FORTY YEARS OF AGE AT THE END OF THE TAX YEAR; (B) THIRTY PERCENT IF THE INSURED IS LESS THAN FIFTY YEARS OF AGE, BUT FORTY OR MORE YEARS OF AGE, AT THE END OF THE TAX YEAR; (C) TWENTY-FIVE PERCENT IF THE INSURED IS LESS THAN FIFTY-FIVE YEARS OF AGE, BUT FIFTY OR MORE YEARS OF AGE, AT THE END OF THE TAX YEAR; OR (D) TWENTY PERCENT IF THE INSURED IS FIFTY-FIVE OR MORE YEARS OF AGE AT THE END OF THE TAX YEAR. In order to qualify for such credit, the taxpayer's premium payment must be for the purchase of or for continuing coverage under a long-term EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD07950-03-6
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