Legislative Oversight Committee Concerning Tax Policy. For
income tax years commencing on or after January 1, 2025, the bill both:
•
Increases the amount of federal taxable income a taxpayer may have and still qualify for the state income tax credit for purchasing long-term care insurance and annually adjusts that federal taxable income amount for inflation; and •
Doubles the amount of the credit a taxpayer may claim and, for income tax years commencing on or after January 1, 2026, annually adjusts the credit amount for inflation.
