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 regarding the tax credit amount, which is equal to 100% of the federal veteran disability compensation or $675, whichever is less, and outlines how the credit is allocated among multiple caregivers.

Additionally, the bill clarifies the definition of "qualified family caregiver" and establishes income thresholds for eligibility based on filing status. It allows caregivers who do not owe taxes to apply for the credit through a designated application process. The act is set to take effect immediately and will apply to taxable years beginning on or after January 1 following its enactment. Overall, this legislation aims to provide greater financial support to caregivers of veterans with service-related disabilities.

Statutes affected:
Introduced: 54A:4-15