New York A 4093: Provides a personal income tax deduction for long term care insurnace riders

Bill Text

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A04093 Summary:

BILL NOA04093 

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SAME ASNo Same As

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SPONSORStern

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COSPNSR

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MLTSPNSR

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Amd §612, Tax L

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

Go to top A04093 Actions:

BILL NOA04093 

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01/31/2025referred to ways and means

01/07/2026referred to ways and means

Go to topA04093 Committee&nbspVotes:

Go to topA04093 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA04093 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 4093

 2025-2026 Regular Sessions

 IN ASSEMBLY

 January 31, 2025
 ___________

 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 48 to read as follows:
 3 (48) 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.
 LBD01474-01-5

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