PRINTER'S NO. 4018
No. 2892 Session of 1998
INTRODUCED BY COLAFELLA, VANCE, J. TAYLOR, GEORGE, ARMSTRONG,
BLAUM, WALKO, WOJNAROSKI, COY, READSHAW, BELFANTI,
C. WILLIAMS, KENNEY, SCRIMENTI, MANDERINO, E. Z. TAYLOR,
PETRONE, OLASZ, COLAIZZO, BELARDI, GRUITZA, BEBKO-JONES,
SAINATO, BOSCOLA, STABACK, McCALL, SHANER, LAUGHLIN, TIGUE,
BROWNE, FICHTER, DeLUCA, MELIO, EGOLF, BAKER, SEMMEL, LUCYK,
GEIST, BARD, YOUNGBLOOD, THOMAS, HARHAI AND VAN HORNE,
OCTOBER 7, 1998
REFERRED TO COMMITTEE ON FINANCE, OCTOBER 7, 1998
AN ACT
1 Amending the act of March 4, 1971 (P.L.6, No.2), entitled "An
2 act relating to tax reform and State taxation by codifying
3 and enumerating certain subjects of taxation and imposing
4 taxes thereon; providing procedures for the payment,
5 collection, administration and enforcement thereof; providing
6 for tax credits in certain cases; conferring powers and
7 imposing duties upon the Department of Revenue, certain
8 employers, fiduciaries, individuals, persons, corporations
9 and other entities; prescribing crimes, offenses and
10 penalties," providing for deduction from personal income of
11 long-term care insurance premiums.
12 The General Assembly of the Commonwealth of Pennsylvania
13 hereby enacts as follows:
14 Section 1. The act of March 4, 1971 (P.L.6, No.2), known as
15 the Tax Reform Code of 1971, is amended by adding a section to
16 read:
17 Section 304.1. Deduction for Long-term Care Insurance.--A
18 person shall be allowed to deduct the amount paid during a
19 taxable year, up to a maximum amount of three thousand five
1 hundred dollars ($3500), for any qualified long-term care
2 insurance contract, as defined in section 7702B(b) of the
3 Internal Revenue Code of 1986 (Public Law 99-514, 26 U.S.C.
4 §7702B(b)), from income enumerated and classified under section
5 303.
6 Section 2. This act shall apply to taxable years beginning
7 on or after January 1, 1999.
8 Section 3. This act shall take effect immediately.
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