AN ACT ESTABLISHING A PERSONAL INCOME TAX DEDUCTION FOR CERTAIN PAYMENTS RECEIVED FROM AN INSURANCE COMPANY.
Sponsored By: Gary A. Turco (Democratic)
Introduced
Summary
To establish a personal income tax deduction for the portion of any payment from an insurance company received by a taxpayer (1) in exchange for a buyout or cancellation of a long-term care insurance policy, and (2) that is properly includable in gross income for federal income tax purposes.
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Bill Overview
No Economic Impacts Identified for this Bill
Sponsors & Cosponsors
Sponsor
Gary A. Turco
Democratic • House
Cosponsors
Mike Demicco
Democratic • House
Roll Call Votes
No roll call votes available for this bill.
Actions Timeline
Referred to Joint Committee on Finance, Revenue and Bonding
2/4/2026legislature
Bill Text
Proposed Bill
2/4/2026
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