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H0312aa.............................................by REVENUE AND TAXATION
LONG-TERM CARE INSURANCE - Adds to existing law to provide a state income
tax deduction for fifty percent of the premium cost for long-term care
insurance.
02/21 House intro - 1st rdg - to printing
02/22 Rpt prt - to Rev/Tax
03/07 Rpt out - to Gen Ord
Rpt out amen - to engros
03/08 Rpt engros - 1st rdg - to 2nd rdg as amen
03/09 2nd rdg - to 3rd rdg as amen
03/13 3rd rdg as amen - PASSED - 67-0-3
AYES -- Barraclough, Barrett, Bedke, Bell, Bieter, Black, Boe, Bolz,
Bradford, Bruneel, Callister, Campbell, Chase, Clark, Collins, Deal,
Denney, Ellis, Ellsworth, Eskridge, Field(13), Field(20), Gould,
Hadley, Hammond, Harwood, Henbest, Higgins, Hornbeck, Jaquet, Jones,
Kellogg, Kendell, Kunz, Lake, Langford, Loertscher, Mader, Marley,
McKague, Meyer, Montgomery, Mortensen, Moss, Moyle, Pearce, Pischner,
Pomeroy, Raybould, Ridinger, Roberts, Robison, Sali, Schaefer,
Sellman, Shepherd, Smith, Smylie, Stevenson, Stone, Swan, Tilman,
Trail, Wheeler, Wood, Young, Mr. Speaker
NAYS -- None
Absent and excused -- Crow, Cuddy, Gagner
Floor Sponsors -- Jaquet & Black
Title apvd - to Senate
03/14 Senate intro - 1st rdg - to Loc Gov
03/19 Rpt out - to 14th Ord
03/28 Rpt out NOT amen - to 2nd rdg
Rls susp - PASSED - 24-11-0
AYES -- Boatright, Branch, Brandt, Burtenshaw, Cameron, Darrington,
Deide, Dunklin, Frasure, Geddes, Hawkins, Ipsen, Keough,
King-Barrutia, Lee, Richardson, Risch, Sandy, Sims, Sorensen,
Stennett, Thorne, Wheeler, Williams
NAYS -- Andreason, Bunderson, Danielson, Davis, Goedde, Ingram,
Lodge, Noh, Schroeder, Stegner, Whitworth
Absent and excused -- None
Floor Sponsor -- Frasure
Title apvd - to House
03/29 To enrol - rpt enrol - Sp signed - Pres signed
03/30 To Governor
04/11 Governor signed
Session Law Chapter 384
Effective: 01/01/01
|||| LEGISLATURE OF THE STATE OF IDAHO ||||
Fifty-sixth Legislature First Regular Session - 2001
IN THE HOUSE OF REPRESENTATIVES
HOUSE BILL NO. 312
BY REVENUE AND TAXATION COMMITTEE
1 AN ACT
2 RELATING TO INCOME TAX; AMENDING CHAPTER 30, TITLE 63, IDAHO CODE, BY THE
3 ADDITION OF A NEW SECTION 63-3022P, IDAHO CODE, TO PROVIDE FOR A STATE
4 INCOME TAX DEDUCTION FOR FIFTY PERCENT OF THE PREMIUMS FOR LONG-TERM CARE
5 INSURANCE; DECLARING AN EMERGENCY AND PROVIDING FOR RETROACTIVE APPLICA-
6 TION.
7 Be It Enacted by the Legislature of the State of Idaho:
8 SECTION 1. That Chapter 30, Title 63, Idaho Code, be, and the same is
9 hereby amended by the addition thereto of a NEW SECTION, to be known and des-
10 ignated as Section 63-3022P, Idaho Code, and to read as follows:
11 63-3022P. LONG-TERM CARE INSURANCE. For taxable years commencing on or
12 after January 1, 2001, fifty percent (50%) of the premiums paid during the
13 taxable year, by a taxpayer for long-term care insurance as that term is
14 defined in section 41-4603, Idaho Code, and which are qualified as defined in
15 section 7702B(b) of the Internal Revenue Code, which long-term care insurance
16 is to be for the benefit of the taxpayer, a dependent of the taxpayer or an
17 employee of the taxpayer, may be deducted from taxable income.
18 SECTION 2. An emergency existing therefor, which emergency is hereby
19 declared to exist, this act shall be in full force and effect on and after its
20 passage and approval, and retroactively to January 1, 2001.
|||| LEGISLATURE OF THE STATE OF IDAHO ||||
Fifty-sixth Legislature First Regular Session - 2001
Moved by Chase
Seconded by Kellogg
IN THE HOUSE OF REPRESENTATIVES
HOUSE AMENDMENT TO H.B. NO. 312
1 AMENDMENT TO SECTION 1
2 On page 1 of the printed bill, in lines 14 and 15, delete "and which are
3 qualified as defined in section 7702B(b) of the Internal Revenue Code,".
|||| LEGISLATURE OF THE STATE OF IDAHO ||||
Fifty-sixth Legislature First Regular Session - 2001
IN THE HOUSE OF REPRESENTATIVES
HOUSE BILL NO. 312, As Amended
BY REVENUE AND TAXATION COMMITTEE
1 AN ACT
2 RELATING TO INCOME TAX; AMENDING CHAPTER 30, TITLE 63, IDAHO CODE, BY THE
3 ADDITION OF A NEW SECTION 63-3022P, IDAHO CODE, TO PROVIDE FOR A STATE
4 INCOME TAX DEDUCTION FOR FIFTY PERCENT OF THE PREMIUMS FOR LONG-TERM CARE
5 INSURANCE; DECLARING AN EMERGENCY AND PROVIDING FOR RETROACTIVE APPLICA-
6 TION.
7 Be It Enacted by the Legislature of the State of Idaho:
8 SECTION 1. That Chapter 30, Title 63, Idaho Code, be, and the same is
9 hereby amended by the addition thereto of a NEW SECTION, to be known and des-
10 ignated as Section 63-3022P, Idaho Code, and to read as follows:
11 63-3022P. LONG-TERM CARE INSURANCE. For taxable years commencing on or
12 after January 1, 2001, fifty percent (50%) of the premiums paid during the
13 taxable year, by a taxpayer for long-term care insurance as that term is
14 defined in section 41-4603, Idaho Code, which long-term care insurance is to
15 be for the benefit of the taxpayer, a dependent of the taxpayer or an employee
16 of the taxpayer, may be deducted from taxable income.
17 SECTION 2. An emergency existing therefor, which emergency is hereby
18 declared to exist, this act shall be in full force and effect on and after its
19 passage and approval, and retroactively to January 1, 2001.
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STATEMENT OF PURPOSE
RS11158
The purpose of this legislation is to amend Chapter 30 Title 63,
Idaho Code, relating to income tax to create a state income tax
deduction for fifty percent (50%) of qualified long-term care
insurance premium. This legislation works retroactively to January 1,
2001, and creates an incentive for individuals to pay for their own
long term care rather than relying on Medicaid. It will also help to
stay the growth of Medicaid expenditures for long term care.
FISCAL IMPACT
The highest impact to the general fund would be $455,000 if every
consumer of qualified long term care insurance claimed the
deduction.
• $13 million is spent in Idaho on long term care
insurance premiums, therefore: $13 million X .07(actual
adjusted tax rate) X .5 (50% of premiums) = $455,000
• The state spends $37 million in Medicaid nursing home
expenditures. There are currently over 2800 nursing
home residents on Medicaid in Idaho at a cost of
approximately $13,200 state funds per resident per
year. $37 million / 2800 = approximately $13,200
• To completely eliminate the annual fiscal impact of
this legislation, only 35 of those residents would need
to activate their long term care policy rather than
rely on Medicaid. 35 X $13,200 = $462,000 in savings,
more than the highest possible fiscal impact
• This is a reduction of only approximately 1.23% of the
total Medicaid expenditures for nursing home care in
Idaho.$37 million X .0123 = $455,100
Contacts
Name: Robert Vande Merwe, Idaho Health Care Association
Phone: 343-9735
Name: Max Black
Phone: 332-1000
Name: Rep. Wendy Jaquet
Phone: 322-1130
STATEMENT OF PURPOSE/FISCAL NOTE H 312