Senate Bill 683 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 will only take effect if the aforementioned Assembly Bill is enacted; otherwise, it will be rendered void.
The amendment modifies the existing statute 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, ensuring that it aligns with the enactment of the related Assembly Bill.