3-5.19#1c (Deduction for Long-Term Health Care Insurance Premiums) Long-Term Care Deduction Language. HB1400 - Conference Report

State Budget

2015 Session

Budget Amendments - HB1400 (Conference Report)

Bill Order » Item 3-5.19 #1c

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Long-Term Care Deduction Language (language only)

Item 3-5.19 #1c

Item 3-5.19 #1c
Adjustments and Modifications to Tax Collections
Deduction for Long-Term Health Care Insurance Premiums

Language
Page 517, line 40, after "§ 3-5.19" strike the remainder of the line and insert:
"Omitted."
Page 517, strike lines 41 through 43.

Explanation
(This amendment removes language that would limit the deduction for long-term health care insurance premium payments to 50 percent of the amount of such payments. Legislation authorizing this change was not adopted.)

Item 3-5.19

Item 3-5.19

§ 3-5.19 DEDUCTION FOR LONG-TERM HEALTH CARE INSURANCE PREMIUMS

Notwithstanding any other provision of law, for taxable years beginning on and after January 1, 2015, the amount of the deduction available under § 58.1-322 D10, Code of Virginia, shall be limited to 50 percent of the amount an individual pays annually in premiums for long-term health care insurance.