This bill amends the Wounded Warrior Caregivers Relief Act to expand the eligibility for tax credits to caregivers of certain veterans. Specifically, it revises the definition of "qualified armed service member" to include any veteran, as defined in New Jersey law, who has a disability resulting from military service and has lived with the caregiver for at least six months during the taxable year. The bill maintains the existing provisions that allow qualified family caregivers to receive a tax credit based on the federal veteran disability compensation of the service member they care for, with a maximum credit of $675.

Additionally, the bill clarifies the definition of "qualified family caregiver" and establishes income thresholds for eligibility based on filing status. It ensures that if multiple caregivers qualify for the credit for the same veteran, the credit will be allocated proportionally based on their contributions to care expenses. The act is set to take effect immediately and will apply to taxable years beginning on or after January 1 following its enactment.

Statutes affected:
Introduced: 54A:4-15