Long-term care insurance credit expanded.

This bill expands Minnesota's long-term care insurance tax credit by doubling the maximum annual credit amounts. It increases the per-beneficiary credit limit from $100 to $250 and raises the annual maximum to $500 for married couples filing jointly (from $200) and $250 for other filers (from $100). The credit remains at 25% of premiums paid for qualifying long-term care insurance policies, but the new dollar limits apply to each beneficiary. The changes take effect for tax years beginning after December 31, 2024, directly benefiting Minnesotans who purchase long-term care insurance.