Bill Text: NY A08456 | 2019-2020 | General Assembly | Introduced

New York Assembly Bill 8456 (Prior Session Legislation)

Introduced

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

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2020-01-08 - referred to ways and means [A08456 Detail]

Download: New_York-2019-A08456-Introduced.html




                STATE OF NEW YORK
        ________________________________________________________________________

                                          8456

                               2019-2020 Regular Sessions

                   IN ASSEMBLY

                                      July 8, 2019
                                       ___________

        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:

     1    Section 1. Subsection (c) of section 612 of the tax law is amended  by
     2  adding a new paragraph 43 to read as follows:
     3    (43)  The  portion  of  the premiums paid during the taxable year by a
     4  taxpayer attributable to the cost of a long term  care  insurance  rider
     5  under a life insurance policy.
     6    § 2. This act shall take effect immediately and shall apply to taxable
     7  years  commencing  on or after the first of January in the year in which
     8  it shall have become a law.






         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD13432-01-9