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Bill

A 6883

Eliminates the cap on the maximum amount and the gross income requirement for the long-term care insurance credit

2025 Regular Session Introduced by Gary Pretlow

Eliminate the LTCI credit cap and gross-income limit, expanding eligibility for taxpayers who pay LTCI premiums and potentially increasing credits and budget impact.

REFERRED TO WAYS AND MEANS
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WeVote Research Nonpartisan
Bill Summary · A 6883

Assembly Bill A 6883 — Summary

Overview

A 6883 is an Assembly bill introduced on March 18, 2025, that seeks to reform the long-term care insurance credit by removing two existing constraints: the cap on the maximum credit amount and the gross income requirement to qualify. The primary sponsor is J. Gary Pretlow. The bill has been referred to the Ways and Means committee, with the legislative action listed as occurring on March 18, 2025.

Purpose and Intent

  • The bill aims to broaden access to the long-term care insurance (LTCI) credit by eliminating current limits that restrict its use.
  • By removing the cap on the maximum credit amount and lifting the gross income eligibility threshold, more taxpayers who pay LTCI premiums could potentially receive credit (subject to the bill’s specified calculation and qualifications as written in the text).

Key Provisions (as indicated by the title)

  • Eliminate the cap on the maximum amount of the LTCI credit.
  • Remove the gross income requirement for eligibility to claim the LTCI credit.
  • The bill would apply to taxpayers who pay LTCI premiums, expanding access beyond the current income-limited framework (exact calculation method and any other qualifications would be defined in the bill’s text).

Note: Specifics such as the credit calculation rate, eligible premium types, caps that might remain in any other form, sunset provisions, or interaction with other credits are not provided in the summary information available.

Affected Parties and Impacts

  • Directly Affected: Taxpayers who pay long-term care insurance premiums and currently rely on the LTCI credit, particularly those whose eligibility was constrained by income thresholds or credit caps.
  • Potential Wider Impacts: Could lead to increased use of LTCI credits, with possible cost implications for the state budget and changes in premium planning decisions for households.

Procedural and Timeline Details

  • Introduced: March 18, 2025.
  • Current Status: Referred to Ways and Means (the standard committee for tax and revenue matters).
  • No further formal actions are listed in the provided document beyond the initial referral.

Legislative History and Related Bills

  • Related Assembly Bills (prior-session): A 6683 and A 3654.
  • Companion Senate Bill: S 4698 (listed twice in the provided information, indicating at least one Senate companion exists).
  • Sponsors: Primary sponsor J. Gary Pretlow.

Potential Considerations

  • Fiscal impact: Eliminating the cap and income threshold would likely increase credits claimed, with associated budgetary effects that would need to be analyzed by Ways and Means.
  • Administration: The Department of Taxation and Finance would implement any procedural changes, ensure proper reporting of LTCI premiums, and adjust forms and guidance accordingly.
  • Equity and access: The bill would expand eligibility, potentially benefiting mid-to-high-income taxpayers who purchase LTCI and previously exceeded the income cap or hit the credit cap.

If you’d like, I can tailor this summary to include hypothetical fiscal estimates or demand a close read of the bill text for precise calculations and thresholds.

Compiled from official sources — confirm details with the bill’s official record.

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