AN ACT ESTABLISHING A TAX CREDIT FOR PREMIUM PAYMENTS FOR CERTAIN LONG-TERM CARE INSURANCE POLICIES.

HB 5439 creates a tax credit allowing individuals and groups to deduct up to 20% of their premiums paid for qualifying long-term care insurance policies from their state income tax. It directly affects people who purchase such insurance, helping reduce their tax burden. The bill permits unused portions of the credit to be carried forward to future tax years if the credit exceeds the current year's tax liability. This is a concrete policy change focused on financial relief for long-term care insurance buyers, without altering insurance requirements or coverage.