Income tax, state; credit for purchase of long-term care insurance. (SB287)

Introduced By

Sen. Harry Blevins (R-Chesapeake)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Individual income taxes; credit for purchase of long-term care insurance.  Provides a credit against individual income taxes for certain long-term care insurance premiums paid by the individual during the taxable year. The amount of the credit shall equal 15% of the amount paid during the taxable year by the individual in long-term care insurance premiums for long-term care insurance coverage for himself, not to exceed over the life of any policy 15% of the amount of the first 12 months of premiums.  The credit would be available beginning with the 2006 taxable year. Any unused credit may be carried over in the next five taxable years. Read the Bill »

Status

04/05/2006: signed by governor

History

DateAction
01/10/2006Prefiled and ordered printed; offered 01/11/06 063465136
01/10/2006Referred to Committee on Finance
01/22/2006Fiscal impact statement from TAX (SB287)
01/25/2006Reported from Finance with amendments (14-Y 0-N 1-A)
01/26/2006Constitutional reading dispensed (38-Y 0-N)
01/26/2006VOTE: (38-Y 0-N)
01/27/2006Read second time
01/27/2006Reading of amendments waived
01/27/2006Committee amendments agreed to
01/27/2006Engrossed by Senate as amended SB287E
01/27/2006Printed as engrossed 063465136-E
01/30/2006Read third time and passed Senate (38-Y 0-N)
01/30/2006VOTE: (38-Y 0-N)
01/30/2006Communicated to House
02/14/2006Placed on Calendar
02/14/2006Read first time
02/14/2006Referred to Committee on Finance
02/16/2006Fiscal impact statement from TAX (SB287E)
02/27/2006Reported from Finance with substitute (22-Y 0-N)
02/27/2006Committee substitute printed 067379540-H1
02/28/2006Read second time
03/01/2006Read third time
03/01/2006Committee substitute agreed to 067379540-H1
03/01/2006Engrossed by House - committee substitute SB287H1
03/01/2006Passed House with substitute (97-Y 0-N 1-A)
03/01/2006VOTE: PASSAGE (97-Y 0-N 1-A)
03/01/2006House substitute agreed to by Senate (39-Y 0-N)
03/01/2006VOTE: (39-Y 0-N)
03/08/2006Bill text as passed Senate and House (SB287ER)
03/11/2006Bill text as passed Senate and House reprinted (SB287ER)
03/11/2006Enrolled
03/11/2006Signed by Speaker
03/13/2006Signed by President
03/16/2006Fiscal impact statement from TAX (SB287ER)
04/05/2006G Approved by Governor-Chapter 570 (effective 7/1/06)
04/12/2006G Acts of Assembly Chapter text (CHAP0570)