H.R.2096 - Long-Term Care and Retirement Security Act of 2003108th Congress (2003-2004)
|Sponsor:||Rep. Johnson, Nancy L. [R-CT-5] (Introduced 05/14/2003)|
|Committees:||House - Ways and Means|
|Latest Action:||05/14/2003 Referred to the House Committee on Ways and Means.|
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Summary: H.R.2096 — 108th Congress (2003-2004)All Bill Information (Except Text)
Long-Term Care and Retirement Security Act of 2003 - Amends the Internal Revenue Code to allow: (1) a deduction (increasing percentages with full deductibility as of 2008) for eligible long-term care insurance premiums for a taxpayer, spouse, and dependents and (2) long-term care insurance to be offered under cafeteria plans and flexible spending arrangements.
Introduced in House (05/14/2003)
Allows an income-adjusted (limited) credit for eligible individuals with long-term care needs.
Sets forth specified requirements for qualifying long-term care insurance contracts.
Treats an exchange of qualified long-term care insurance contracts as a disposition of property for which no gain or loss is recognized.