Income Tax - Credit for Long-Term Care Premiums (Long-Term Care Relief Act of 2025)

HB 327 creates a state income tax credit for Maryland residents aged 85 or older with adjusted gross income under $100,000 (single) or $200,000 (joint filers). It allows eligible taxpayers to claim a credit equal to 100% of long-term care insurance premiums paid for themselves, their spouse, or certain family members, capped at either 15% of premiums or $1,500 per covered person. The credit cannot be claimed for policies purchased before 2000 or for individuals already covered under prior claims. The bill takes effect July 1, 2025, for tax years beginning after December 31, 2024.