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Bill 53

                    Current Status

Bill Number:                      53
Type of Legislation:              General Bill GB
Introducing Body:                 Senate
Introduced Date:                  19990112
Primary Sponsor:                  Giese
All Sponsors:                     Giese, Elliott, Hayes, Leatherman, Reese
Drafted Document Number:          l:\council\bills\bbm\1004htc99.doc
Residing Body:                    Senate
Current Committee:                Finance Committee 06 SF
Subject:                          Long-term care insurance premiums, income 
                                  tax credit for; Aging, Residential Care 
                                  Facilities, Taxation


                        History

Body    Date      Action Description                     Com     Leg Involved
______  ________  ______________________________________ _______ ____________
Senate  19990112  Introduced, read first time,           06 SF
                  referred to Committee
Senate  19981118  Prefiled, referred to Committee        06 SF


                             Versions of This 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 1998.

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