House of Representatives

SB 1086

long term care insurance; tax incentive

Sponsors: Senators Nichols, Lopez J, Valadez: Aguirre, Arzberger, Brown, Cummiskey, Hartley, Jackson, Mitchell, Rios, Solomon

X	Committee on Financial Institutions and Insurance
	Committee on Ways and Means Committee
	Committee on Appropriations Committee
	Caucus and COW
	As Passed the House

SB 1086 allows Arizona residents to subtract premium amounts paid for long-term care insurance from their Arizona adjusted gross income.

Provisions

· Allows an Arizona resident to subtract any amount of long-term care insurance premiums authorized by A.R.S. 43-1032 that the resident pays for anyone, from the resident’s Arizona adjusted gross income.

· Prohibits premium payments for long-term care insurance coverage from being subtracted from a resident’s Arizona adjusted income if the premiums are already deducted in computing the resident’s Arizona gross income.

· Defines long-term care insurance.

· Contains an effective date of December 31, 2001.

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· 45th Legislature

· First Regular Session 2 April 5, 2001

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