Altering a limitation on claiming the income tax credit for eligible long-term care insurance premiums for more than 1 year with respect to the same insured individual; altering the amount of the credit from a one-time $500 credit to a maximum of $250 for a taxable year beginning after December 31, 2024, but before January 1, 2027, and a maximum of $500 for a taxable year beginning after December 31, 2026; and applying the Act to taxable years beginning after December 31, 2024.

Statutes affected:
Text - First - Income Tax - Credit for Long-Term Care Premiums: 10-718 Tax General, 2-025 Tax General