HCS HB 1145, 1359 & 1121 -- INCOME TAX DEDUCTION FOR LONG-TERM
CARE INSURANCE (Portwood)

COMMITTEE OF ORIGIN:  Senior Citizen Advocacy

This substitute changes the laws regarding the long-term care
insurance tax deduction.  For taxable years beginning after
January 1, 2006, Missouri residents will be allowed to deduct
from their taxable income an amount equaling 100% of all
non-reimbursed amounts paid for qualified long-term care
insurance premiums to the extent the amounts are included in the
individual's adjusted gross income.

FISCAL NOTE:  Estimated Cost on General Revenue Fund of
$2,736,000 in FY 2007, FY 2008, and FY 2009.  No impact on Other
State Funds in FY 2007, FY 2008, and FY 2009.

Missouri House of Representatives
93rd General Assembly, 2nd Regular Session
Last Updated November 29, 2006 at 9:42 am