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Life Health > Life Insurance > Term Insurance

State Senate Amends Oregon LTC Tax Credit Bill

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NU Online News Service, July 20, 3:15 p.m. – The Oregon legislature has turned a bill that would have expanded the state long-term care insurance premium tax credit into a bill that deals with stadium taxation.

The bill, H.B. 2280, originally would have extended the existing state LTC insurance tax credit. It would have permitted residents who purchased policies before Jan. 1, 2000, to subtract 15% of the cost from their state income taxes or excise taxes.

Amendments added by the Senate eliminated all references to long-term care insurance and replaced them with a section protecting city-owned sports facilities in cities with populations of at least 500,000 from taxation.

The legislature has sent the amended version of the bill to Dr. John Kitzhaber, the governor, for his consideration.

The original version of the bill was introduced by Rep. Bill Witt, R-Cedar Mills.


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