Long-Term Care Support and Incentive Act of 2004
Latest action · May 20, 2004 Referred to the House Committee on Ways and Means.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMay 20, 2004
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Long-Term Care Support and Incentive Act of 2004 - Amends the Internal Revenue Code to: (1) allow a tax deduction from gross income for 50 percent of the long-term care premiums paid under a qualified long-term care insurance contract for individuals under age 65 (increases the deduction percentage to 75 percent for premiums paid for individuals age 65 or older); (2) permit qualified long-term care insurance contracts to be offered in a cafeteria plan and flexible spending arrangements under certain conditions; (3) allow a nonrefundable tax credit of $4,000, subject to a phase-out for incomes exceeding $150,000 (joint returns) or $75,000 (individuals), for each individual age 65 or older who has been certified as having long-term care needs for at least 180 consecutive days in a taxable year and for whom the taxpayer is acting as a caregiver; and (4) mandate certain consumer protections for long-term care insurance contracts.
Cosponsors 1
Members who signed on, in the order they did. All signed on May 20, 2004.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-TX | Ron Paul | Original | May 20, 2004 |
Actions 2
Everything that happened, newest first.
- May 20, 2004Introduced in House
- May 20, 2004Referred to the House Committee on Ways and Means.
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
- Caregivers
- Case management
- Commerce
- Consumer protection
- Disabled
- Economics and Public Finance
- Employee health benefits
- Excise tax
- Families
- Finance and Financial Sector
- Flexible benefit plans
- Health
- Income tax
- Indexing (Economic policy)
- Insurance premiums
- Labor and Employment
- Long-term care
- Long-term care insurance
- Medical economics
- Social Welfare
- Standards
- Tax credits
- Tax deductions
- Tax penalties
- Tax returns
- Taxation
Text 1
Each version as it was printed, newest first.
- May 20, 2004Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.