South Carolina state lawmaker proposes LTCI bill

A South Carolina state lawmaker has prefiled a bill that could create a tax break for Palmetto State residents who buy long-term care insurance (LTCI).

State Sen. George Campsen III, R-Charleston, S.C., has introduced S. 0056, a bill that would establish an LTCI purchase tax credit.

The credit would equal 15 percent of the total amount of premimums paid by a taxpayer for an LTCI contract, up to $350 per year for each individual covered.