INC TAX-LONG-TRM CARE INSURNCE

Amends the Illinois Income Tax Act. Provides that, for 5 taxable years, each individual taxpayer is entitled to an income tax credit in the amount of 50% of the amount spent by the taxpayer in the taxable year for long-term care insurance premiums. Provides that the tax credit may not reduce the taxpayer's liability to less than zero but may be carried forward for 5 taxable years. Effective immediately.