Assembly Bill A2101

2023-2024 Legislative Session

Provides a personal income tax deduction for long term care insurnace riders

download bill text pdf

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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

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2023-A2101 (ACTIVE) - Details

Current Committee:
Assembly Ways And Means
Law Section:
Tax Law
Laws Affected:
Amd §612, Tax L
Versions Introduced in Other Legislative Sessions:
2019-2020: A8456
2021-2022: A2408
2025-2026: A4093

2023-A2101 (ACTIVE) - Summary

Provides a personal income tax deduction for long term care insurance riders under life insurance policies.

2023-A2101 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   2101
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             January 23, 2023
                                ___________
 
 Introduced  by M. of A. STERN -- read once and referred to the Committee
   on Ways and Means
 
 AN ACT to amend the tax law, in relation to  providing  for  a  personal
   income tax deduction for long term care insurance riders
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:

   Section 1. Subsection (c) of section 612 of the tax law is amended  by
 adding a new paragraph 47 to read as follows:
   (47)  THE  PORTION  OF  THE PREMIUMS PAID DURING THE TAXABLE YEAR BY A
 TAXPAYER ATTRIBUTABLE TO THE COST OF A LONG TERM  CARE  INSURANCE  RIDER
 UNDER A LIFE INSURANCE POLICY.
   § 2. This act shall take effect immediately and shall apply to taxable
 years  commencing  on or after the first of January in the year in which
 it shall have become a law.
 
 
 
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD02306-01-3

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