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

DP	Committee on Financial Institutions and Insurance
X	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.

SB 1086 passed the Financial Institutions and Insurance Committee unamended.

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45th Legislature

First Regular Session 2 April 9, 2001

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