Bill115th CongressFiled Nov 30, 2018Taxation
H.R. 7203
Long-Term Care Account Act
Bill journey · stage 2 of 5
Under committee review
FiledFiled
CommitteeComm.
PassedFloor
Both ChambersBoth
Became LawLaw
What it doesSummary introduced in house (Nov 30, 2018)
Long-Term Care Account Act
This bill allows tax-exempt long-term care accounts that are funded using a taxpayer's gains from the sale or assignment of a life insurance contract. The bill excludes from gross income (1) the gains that are contributed to the accounts, and (2) distributions from the accounts that are used exclusively for the long-term care expenses of the account beneficiary or the account beneficiary's spouse.
What just happenedNov 30, 2018
Referred to the House Committee on Ways and Means.
Who’s behind it
Rep. Marchant, Kenny [R-TX-24](R-TX)Sponsor
1 cosponsor1 D
1cosponsors1committees3actions4subjects
- Introduced in HouseNov 30, 2018
- Nov 30, 2018IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Nov 30, 2018IntroReferralIntro-H
Introduced in House
- Nov 30, 2018IntroReferral1000
Introduced in House