| | | C. One hundred dollars for each employee covered by an | | employer-provided long-term care policy. |
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| | | Sec. 6. 36 MRSA §5217-C, as enacted by PL 1999, c. 521, Pt. C, §8 | | and affected by §9, is repealed. |
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| | | Sec. 7. Retroactivity. This Act applies retroactively to January 1, | | 2000. |
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| | | Public Law 1999, chapter 521 changed the tax treatment of | | employer-provided long-term care benefits to allow a credit for | | the amount paid for premiums against the tax imposed upon all | | gross direct premiums up to the amount of the tax due; chapter | | 521 applies to all policies issued beginning January 1, 2000. | | Premiums on policies issued before that date are fully deductible | | against the state income tax. |
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| | | This bill restores the full deductibility of employer-provided | | long-term care benefit premiums that are certified by the | | Superintendent of Insurance as complying with current | | requirements for long-term care insurance and applies the | | deductibility retroactively to January 1, 2000. |
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