HF2176 (Legislative Session 94 (2025-2026))
Long-term care insurance credit expanded.
Related bill: SF1337
AI Generated Summary
This bill, introduced in the Minnesota House of Representatives, seeks to amend Minnesota Statutes 2024, section 290.0672, subdivision 2, by expanding the state's long-term care insurance tax credit. Specifically, it increases the allowable credit from $100 to $250 per qualified beneficiary and raises the maximum total annual credit for married couples filing jointly from $200 to $500. For all other filers, the maximum credit increases from $100 to $250. The legislation ensures that tax relief applies only to premiums not already deducted in determining taxable income, and it includes provisions for prorating the credit for nonresidents and part-year residents.
Bill text versions
- Introduction PDF file
Actions
| Date | Chamber | Where | Type | Name | Committee Name |
|---|---|---|---|---|---|
| March 11, 2025 | House | Floor | Action | Introduction and first reading, referred to | Taxes |
| March 11, 2025 | House | Floor | Action | Introduction and first reading, referred to | Taxes |
Citations
[
{
"analysis": {
"added": [],
"removed": [],
"summary": "This bill expands the long-term care insurance credit under section 290.0672.",
"modified": [
"Increases the maximum credit allowed per year for married couples filing joint returns from $200 to $500.",
"Increases the maximum credit for all other filers from $100 to $250."
]
},
"citation": "290.0672",
"subdivision": "subdivision 2"
},
{
"analysis": {
"added": [],
"removed": [],
"summary": "The allocation of non-resident or part-year resident credit references section 290.06.",
"modified": []
},
"citation": "290.06",
"subdivision": "subdivision 2c"
}
]