To amend the Internal Revenue Code of 1986 to provide for an exception from penalty tax and exclusion from income for certain amounts withdrawn from certain retirement plans for qualified long-term care insurance and a credit for taxpayers with certain persons requiring custodial care in their households.
Long-Term Care Advancement Act of 1999 - Amends the Internal Revenue Code to: (1) except from the penalty tax and exclude from income amounts withdrawn from qualified retirement plans which are used to pay for premiums for qualified long-term care insurance contracts; and (2) provide a limited credit for an individual who maintains a household with a person requiring custodial care.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
Sponsor introductory remarks on measure. (CR E45-46)
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