Relates to tax credits for premiums paid for long-term care insurance

This bill (S 7105) increases tax credits for New York taxpayers who purchase long-term care insurance. It sets a maximum credit of $1,000 per policy annually (up to $1,500 for residents with income under $250,000), calculated as 20% of premiums paid. The credit applies only to approved long-term care insurance policies meeting state standards. It affects New York residents buying qualifying long-term care insurance, directly reducing their state tax liability based on premiums paid.