This bill amends the Wounded Warrior Caregivers Relief Act to expand the eligibility for tax credits to caregivers of certain veterans. The current law provides a gross income tax credit specifically for family caregivers of armed service members with service-connected disabilities arising from service on or after September 11, 2001. The proposed changes redefine "qualified armed service member" to include veterans who have a disability due to their military service and who meet specific criteria set by the United States Department of Veterans Affairs, including residency with the caregiver for at least six months during the taxable year.

Key modifications in the bill include the deletion of the previous definition of "qualified armed service member" as merely an individual and the insertion of a more comprehensive definition that specifies the criteria for veterans eligible for the tax credit. Additionally, the bill maintains the existing structure of the tax credit, which allows qualified family caregivers to receive a credit equal to 100 percent of the federal veteran disability compensation or a maximum of $675, whichever is less. 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