South Carolina General Assembly
112th Session, 1997-1998

Bill 3306


Indicates Matter Stricken
Indicates New Matter


                    Current Status

Bill Number:                       3306
Type of Legislation:               General Bill GB
Introducing Body:                  House
Introduced Date:                   19970128
Primary Sponsor:                   Neilson
All Sponsors:                      Neilson, Rhoad, Stuart, Altman,
                                   Bauer, Baxley, J. Brown, Carnell,
                                   Cato, Cave, Cotty, Cromer, Fleming,
                                   Harvin, J. Hines, Inabinett, Keegan,
                                   Maddox, McLeod, Phillips, Scott,
                                   Simrill, J. Smith, Stille, Vaughn,
                                   Walker, Wilder, Wilkes, Govan,
                                   Loftis, Littlejohn and Clyburn
                                   
Drafted Document Number:           bbm\9062ac.97
Companion Bill Number:             161
Residing Body:                     House
Current Committee:                 Ways and Means Committee 30
                                   HWM
Subject:                           Long-term care insurance
                                   premiums, income tax credit for;
                                   Taxation, Aging, Insurance



History


Body    Date      Action Description                       Com     Leg Involved
______  ________  _______________________________________  _______ ____________
House   19970128  Introduced, read first time,             30 HWM
                  referred to Committee

View additional legislative information at the LPITS web site.


(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A BILL

TO AMEND SECTION 12-6-3390, CODE OF LAWS OF SOUTH CAROLINA, 1976, RELATING TO INCOME TAX CREDIT FOR A PERCENTAGE OF EXPENSES PAID TO A NURSING FACILITY OR FOR IN-HOME OR COMMUNITY CARE, SO AS TO ALSO AUTHORIZE THIS CREDIT FOR A PERCENTAGE OF PREMIUMS PAID FOR LONG-TERM CARE INSURANCE.

Be it enacted by the General Assembly of the State of South Carolina:

SECTION 1. Section 12-6-3390 of the 1976 Code, as added by Act 76 of 1995, is amended to read:

"Section 12-6-3390. An individual taxpayer may claim an income tax credit for twenty percent of:

(1) the expenses paid by the taxpayer for his own support or the support of another to an institution providing nursing facility level of care or to a provider for in-home or community care for persons determined to meet nursing facility level of care criteria as certified by a licensed physician.;

(2) long-term care insurance premiums paid by the taxpayer for the taxpayer's own insurance or for insurance for a spouse or dependent.

The credit provided for in item (1) or (2) is limited to three hundred dollars each and six hundred dollars total each taxable year. However, no credit is allowed for expenses paid from public source funds."

SECTION 2. The amendments to Section 12-6-3390 of the 1976 Code as contained in Section 1 of this act are effective for taxable years beginning after 1997.

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