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DIGEST OF INTRODUCED BILL
Long term care insurance tax deduction. Provides that a taxpayer who pays premiums for a long term care insurance policy for a parent, grandparent, stepparent, or step grandparent of the taxpayer or the taxpayer's spouse may, in calculating adjusted gross income, deduct an amount equal to the portion of the premiums paid in the taxable year. Removes a provision restricting the tax deduction to premiums paid for insurance policies that are "qualified" for purposes of the Indiana long term care program.