The proposed bill introduces a new section, known as the "Caregiver Tax Credit Act," to chapter 135 of Missouri law, which establishes a tax credit for eligible caregivers. This credit is available to resident individuals who provide ongoing assistance to family members who are either 60 years or older or under 60 with a physical or developmental disability requiring daily assistance. Eligible caregivers can claim a tax credit of up to $1,500 per tax year, based on their documented caregiving expenses, with a minimum credit of $1,000. The bill outlines the definitions of key terms, such as "eligible caregiver," "eligible care recipient," and "qualified expenses," and specifies that no more than one tax credit can be claimed for the same care recipient in a given tax year. Additionally, the bill mandates that the Department of Revenue will oversee the administration of the tax credit, including the verification of eligibility and the establishment of rules for documentation. Caregivers must provide proof of residency and ongoing care, and the department is tasked with producing educational materials about the tax credit. The program is set to sunset six years after its effective date unless reauthorized by the General Assembly. The bill also includes provisions for the department to report on the tax credits issued, ensuring that personal identifying information is protected.

Statutes affected:
Introduced (6271H.01): 135.1168