LD 1496
pg. 37
Page 36 of 41 An Act To Reduce Maine's Health Insurance Rates and Expand Consumer Choice ... Page 38 of 41
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LR 541
Item 1

 
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.

 
PART F

 
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 F-1. 2 MRSA c. 5, as amended, is repealed.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 B, §2, is repealed.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 F-3. 22 MRSA c. 103-A, as amended, is repealed.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


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