SF1337
Long-term care insurance income tax credit expansion
Legislative Session 94 (2025-2026)
Related bill: HF2176
AI Generated Summary
Senate File No. 1337 is a legislative bill proposed in Minnesota that seeks to modify the existing state tax code to enhance the tax credit available for individuals who pay premiums on long-term care insurance policies. The bill proposes to increase the tax credit from 25% to a larger amount, though the exact percentage increase is not specified in the text provided. Additionally, the bill plans to increase the maximum credit limit per qualified beneficiary from $100 to $250 and for married couples filing jointly from $200 to $500. These changes aim to provide greater financial relief to individuals and families investing in long-term care insurance.
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| February 13, 2025 | Senate | Action | Introduction and first reading | ||
| February 13, 2025 | Senate | Action | Referred to | Taxes |
Bill information comes from public records published by the Office of the Revisor of Statutes, the Minnesota House and the Minnesota Senate. AI summaries are written by MinneSlate and are not official. MinneSlate is independent and is not affiliated with the State of Minnesota or the Minnesota Legislature.