New York A04093 amends the tax law to allow a personal income tax deduction for long term care insurance riders under life insurance policies.

New York A04093 amends the tax law by adding a new paragraph to section 612, allowing a personal income tax deduction for the portion of premiums paid during the taxable year attributable to the cost of a long term care insurance rider under a life insurance policy. This change takes effect immediately and applies to taxable years commencing on or after the first of January in the year in which the act becomes law.

New York A04093 amends the tax law to allow a personal income tax deduction for long term care insurance riders under life insurance policies.

New York A04093 amends the tax law by adding a new paragraph to section 612, allowing a personal income tax deduction for the portion of premiums paid during the taxable year attributable to the cost of a long term care insurance rider under a life insurance policy. This change takes effect immediately and applies to taxable years commencing on or after the first of January in the year in which the act becomes law.