H.R. 2935 · 109th Congress
Long-Term Care Support and Incentive Act of 2005
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Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
DavisSponsorNo cosponsors.
Long-Term Care Support and Incentive Act of 2005 - Amends the Internal Revenue Code to: (1) allow a tax deduction from gross income for 50 percent of the long-term care premiums paid under a qualified long-term care insurance contract for individuals under age 65 (increases the deduction percentage to 75 percent for premiums paid for individuals age 65 or…
What it does: CRS summary · Introduced in House · Jun 16, 2005
Long-Term Care Support and Incentive Act of 2005 - Amends the Internal Revenue Code to: (1) allow a tax deduction from gross income for 50 percent of the long-term care premiums paid under a qualified long-term care insurance contract for individuals under age 65 (increases the deduction percentage to 75 percent for premiums paid for individuals age 65 or older); (2) permit qualified long-term care insurance contracts to be offered in a cafeteria plan and flexible spending arrangements under certain conditions; (3) allow a nonrefundable tax credit of $4,000, subject to a phase-out for incomes exceeding $150,000 (joint returns) or $75,000 (individuals), for each individual age 65 or older who has been certified as having long-term care needs for at least 180 consecutive days in a taxable year and for whom the taxpayer is acting as a caregiver; and (4) mandate certain consumer protections for long-term care insurance contracts.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Long-Term Care Support and Incentive Act of 2005
Latest action (Jun 27, 2005): Referred to the Subcommittee on Health.
Policy area: Taxation · Origin: House · Introduced: Jun 16, 2005
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.