H.R. 3517, The Long-Term Care Tax Reduction Act of 2007

• This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.

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H.R. 3517 would amend the Internal Revenue Code of 1986 to provide that distributions from an individual retirement plan, a section 401(k) plan, or a section 403(b) contract shall not be includible in gross income to the extent used to pay long-term care insurance premiums.

Detailed Summary

Long-Term Care Tax Reduction Act of 2007 - Amends the Internal Revenue Code to exclude from gross income distributions from an individual retirement account and other tax-exempt retirement plans used to pay long-term care insurance premiums.

Status of the Legislation

Latest Major Action: 9/10/2007: Referred to House committee. Status: Referred to the House Committee on Ways and Means.

Points in Favor

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Points Against

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