Long-Term Care Advancement Act of 1998
Latest action (29 Jul 1998): Introduced
What this bill does
Generate a neutral, plain-English explanation of what this bill does, who it affects and what happens next — grounded in the official text.
Official summary
Long-Term Care Advancement Act of 1998 - Amends the Internal Revenue Code to: (1) except from the penalty tax and exclude from income amounts withdrawn from qualified retirement plans which are used to pay for premiums for qualified long-term care insurance contracts; and (2) provide a limited credit for an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.
Common questions
- What does H.R. 4349 do?
- Long-Term Care Advancement Act of 1998 - Amends the Internal Revenue Code to: (1) except from the penalty tax and exclude from income amounts withdrawn from qualified retirement plans which are used to pay for premiums for qualified long-term care insurance contracts; and (2) provide a limited credit for an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.
- Has H.R. 4349 become law?
- Not yet. As of 29 Jul 1998, H.R. 4349 is introduced.
- Who sponsored H.R. 4349?
- H.R. 4349 was sponsored by Rep. Christopher “Chris” Smith [R-NJ4] (Republican-NJ), with 6 cosponsors.
- What's the latest action on H.R. 4349?
- Introduced (29 Jul 1998).
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