3.0.0 4820 2023-01-11T13:44:23Z 2023-01-11T13:44:23Z Senate S 2020-10-20 116 ssfi00 Finance Committee Senate Standing Referred to 2020-10-20T22:28:56Z 2020-10-20 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2020-10-20 Introduced in Senate IntroReferral 10000 9 Library of Congress T000461 Sen. Toomey, Patrick [R-PA] Patrick Toomey R PA J. N Taxation Taxation 00 2020-10-20 Introduced in Senate 2020-11-25T18:46:00Z Long-Term Care Affordability Act

This bill allows the use of tax-exempt retirement plan distributions to pay for long-term health care insurance. Specifically, it excludes such distributions from the gross income of an insured individual up to $2,500 for per individual in a taxable year.

It also imposes reporting requirements on plans and insured individuals and requires a description of long-term care insurance arrangements and facts sheets for employers and workers.]]> Long-Term Care Affordability Act Display Title Long-Term Care Affordability Act Short Title(s) as Introduced Long-Term Care Affordability Act Introduced in Senate IS Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to expand the use of retirement plan funds to obtain long-term care insurance, and for other purposes. Introduced in Senate IS Introduced in Senate 2020-10-20T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116s4820is/xml/BILLS-116s4820is.xml 2020-10-20 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.