|
subsection 1, paragraph N with respect to the property, | divided by the number of years in the recovery period | minus 2. |
|
| In the case of property expensed pursuant to Section 179 of | the Code, the term "recovery period" means the recovery | period that would have been applicable to the property had | Section 179 not been applied; and |
|
| | Sec. E-5. 36 MRSA §5122, sub-§2, ¶T, as amended by PL 2003, c. 705, §12 | and affected by §14, is further amended to read: |
|
| T. For income tax years beginning on or after January 1, | 2002 and before January 1, 2004, an amount equal to the | total premiums spent for long-term care insurance policies | certified under Title 24-A, section 5075-A as long as the | amount subtracted is reduced by the long-term care premiums | claimed as an itemized deduction pursuant to section 5125. |
|
| For income tax years beginning on or after January 1, 2004, | an amount equal to the total premiums spent for qualified | long-term care insurance contracts certified under Title 24- | A, section 5075-A, as long as the amount subtracted is | reduced by any amount claimed as a deduction for federal | income tax purposes in accordance with the Code, Section | 162(l) and by the long-term care premiums claimed as an | itemized deduction pursuant to section 5125.; and |
|
| | Sec. E-6. 36 MRSA §5122, sub-§2, ¶U is enacted to read: |
|
| U. For income tax years beginning on or after January 1, | 2006, an amount equal to the total premium paid for health | insurance for the taxable year. |
|
| | Sec. F-1. 2 MRSA c. 5, as amended, is repealed. |
|
| | Sec. F-2. 5 MRSA §12004-I, sub-§31-A, as enacted by PL 2003, c. 469, | Pt. B, §2, is repealed. |
|
| | Sec. F-3. 22 MRSA c. 103-A, as amended, is repealed. |
|
| | Sec. F-4. 22 MRSA §1708, sub-§3, ¶D, as corrected by RR 2001, c. 2, Pt. | A, §33, is amended to read: |
|
| D. Ensure that any calculation of an occupancy percentage or | other basis for adjusting the rate of reimbursement for nursing | facility services to reduce the amount paid in response to a | decrease in | the number of residents in the |
|
|