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 |
Citations
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Progress through the legislative process
In Committee