2025 Assembly Bill 700 proposes an amendment to the statutes regarding the long-term care insurance assessment credit. Specifically, it introduces a "sum sufficient" appropriation to facilitate refundable credit payments for this assessment credit, which is established by a related bill, 2025 Assembly Bill .... (LRB-5462/1). The bill stipulates that if the related bill is not enacted, then Assembly Bill 700 will also be rendered void.

The amendment modifies the existing legal language in section 20.835 (2) (de) by deleting the phrase "The amounts in the schedule" and replacing it with "A sum sufficient" to clarify the funding mechanism for the long-term care insurance assessment credit. Additionally, the bill includes a reconciliation provision that outlines the conditions under which it will take effect, specifically contingent upon the enactment of the related bill or any identical legislation. If neither condition is met, the act will be void.