Senate Bill No. 404
(By Senator Helmick, Ross, Minear, Kessler, Fanning, Minard,
Sharpe, Jackson, Walker, Prezioso, Snyder, Anderson, Dittmar,
Ball, Dawson, Mitchell, Hunter, Oliverio, McKenzie, McCabe, Redd,
Unger, Boley, Deem, Sprouse and Tomblin, Mr. President )
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[Introduced February 4, 2000; referred to the Committee
on Banking and Insurance; and then to the Committee on Finance.]
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A BILL to amend article twenty-one, chapter eleven of the code of
West Virginia, one thousand nine hundred thirty-one, as
amended, by adding thereto a new section, designated section
twelve-c, relating to deduction of premium paid for
long-term care insurance from federal adjusted gross income.
Be it enacted by the Legislature of West Virginia:
That article twenty-one, chapter eleven of the code of West
Virginia, one thousand nine hundred thirty-one, as amended, be
amended by adding thereto a new section, designated section
twelve-c, to read as follows:
ARTICLE 21. PERSONAL INCOME TAX.
§11-21-12c. Deduction for long-term care insurance.
For taxable years beginning on and after the first day of
January, two thousand, in addition to amounts authorized to be
subtracted from federal adjusted gross income pursuant to
subsection (c), section twelve of this article, any payment
during the taxable year for premiums for a long-term care
insurance policy as defined in section four, article fifteen-a,
chapter thirty-three of this code that offers coverage to either
the taxpayer, the taxpayer's spouse, parent or a dependent as
defined in section 152 of the Internal Revenue Code of 1986, as
amended, is an authorized modification reducing federal adjusted
gross income, but only to the extent the amount is not allowable
as a deduction when arriving at the taxpayer's federal adjusted
gross income for the taxable year in which the payment is made.
NOTE: The purpose of this bill is to allow taxpayers to
deduct payments made for long-term care insurance from their
federal adjusted gross income.
This section is new; therefore, strike-throughs and
underscoring have been omitted.