Income Tax - Credit for Long-Term Care Premiums

HB 1276 creates a Maryland state income tax credit for eligible long-term care insurance premiums paid by residents for themselves or certain family members (spouse, parent, child, or stepchild) who are at least 45 years old. The credit equals 100% of premiums paid, but is capped at $250 per insured person per year for tax years beginning after December 31, 2025. It cannot be claimed for individuals who had long-term care coverage before January 1, 2026, or for whom the credit was previously claimed. The credit is non-refundable, cannot be carried forward, and requires annual reporting on usage and impacts to the state's Medical Assistance Program.