SPONSOR: Rush
This bill establishes the "Caregiver Tax Credit Act".
Beginning January 1, 2027, an eligible caregiver can claim a tax credit against his or her state income tax liability. This credit will be an amount equal to $1,000 or equal to the total amount of all qualified expenses incurred for the care of the eligible care recipient, whichever is greater. However, the credit will not exceed $1,500 per tax credit per tax year.
An eligible care recipient must not be claimed for more than one tax credit in the same year.
If an eligible caregiver provides caregiving services to multiple eligible care recipients, such caregiver may claim a separate tax credit for each eligible care recipient.
To qualify as an eligible caregiver, the caregiver must provide documentation and proof to the Department of Revenue.
The Department of Revenue must:
(1) Produce and publish resources and materials to educate the public and caregivers on this tax credit;
(2) Prepare an annual report regarding the tax credit; and
(3) Promulgate all necessary rules and regulations to administer this program. This program sunsets six years after its effective date.
This bill is similar to HB 2643 (2024).
Statutes affected: