NU Online News Service, Aug. 9, 5:11 p.m. – The American Council of Life Insurers, Washington, says the new Louisiana long-term care insurance tax credit is really a mirage.
Gov. Murphy Foster Jr., a Republican, signed a bill H.B. 55, that gives individuals the ability to subtract up to 10% of the cost of their annual LTC premiums from their total state income taxes.
The ACLI lobbied hard for the bill and welcomed Foster’s signature.
The final version of H.B. 55 enjoyed nearly unanimous support in the Louisiana Legislature: it passed 102-0 in the House and 37-0 in the Senate. The only lawmakers who didn’t vote for it were three representatives and two senators who happened to be absent during the votes.