Income Tax - Credit for Long-Term Care Premiums

Summary

The bill reduces the maximum state income‑tax credit for eligible long‑term care insurance premiums from $500 to $250 per taxable year beginning after December 31, 2026. It also tightens who can claim the credit by preventing multiple taxpayers from claiming it for the same insured individual and by restricting claims for individuals who were covered before 2027. The changes apply to Maryland residents age 45 or older who purchase qualifying long‑term care policies for themselves or certain family members.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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