HB 1669 -- Tax Deduction for Long-Term Care Insurance

Sponsor:  Sutherland

This bill changes the laws regarding the long-term care insurance
tax deduction.  In its main provisions, the bill:

(1)  Authorizes a Missouri resident to deduct from their taxable
income, an amount equaling 50% of all non-reimbursed amounts paid
for qualified long-term care insurance premiums if the amounts
are not included in their itemized deductions.  This provision
governs taxable years beginning after December 31, 1999, and
ending December 31, 2003.  For taxable years beginning after
January 1, 2004, Missouri residents will be allowed to deduct an
amount equaling 100% of all non-reimbursed amounts;

(2)  Requires the Director of the Department of Revenue, in
cooperation with the Division of Senior Services within the
Department of Health and Senior Services, and the departments of
Social Services and Insurance to implement an education and
awareness program for the long-term care insurance tax deduction
established in Section 135.096, RSMo;

(3)  Specifies the strategies that can be used to implement the
education and awareness program; and

(4)  Requires the respective boards of the Area Agencies on Aging
to inform elderly Missouri residents about the availability of
the long-term care insurance tax deduction.

Missouri House of Representatives
92nd General Assembly, 2nd Regular Session
Last Updated September 23, 2004 at 11:16 am