Read 1st time January 12, 2000, and 1000 copies ordered printed.
ANNE C. WALKER, Chief Clerk
AN ACT
To repeal section 135.096, RSMo Supp. 1999, relating to long-term care insurance tax credit, and to enact in lieu thereof one new section relating to the same subject.
Section A. Section 135.096, RSMo Supp. 1999, is repealed and one new section enacted in lieu thereof, to be known as section 135.096, to read as follows:
135.096. 1. In order to promote personal financial responsibility for long-term health care in this state, for all taxable years beginning after December 31, 1999, a resident individual may deduct from such individual's Missouri taxable income an amount equal to [fifty percent of] all nonreimbursed amounts paid by such individual for qualified long-term care insurance premiums to the extent such amounts are not included the individual's itemized deductions. A married individual filing a Missouri income tax return separately from his or her spouse shall be allowed to make a deduction pursuant to this section in an amount equal to the proportion of such individual's payment of all qualified long-term care insurance premiums. The director of the department of revenue shall place a line on all Missouri individual income tax returns for the deduction created by this section.
2. For purposes of this section, "qualified long-term care insurance" means any policy which meets or exceeds the
provisions of sections 376.951 to 376.958, RSMo, and the rules and regulations promulgated pursuant to such sections for
long-term care insurance.
Missouri House of Representatives