This bill amends the Wounded Warrior Caregivers Relief Act to expand the eligibility for the tax credit benefit to caregivers of certain veterans. The current law provides a gross income tax credit to family caregivers of armed service members with service-connected disabilities who served on or after September 11, 2001. The proposed changes redefine "qualified armed service member" to specifically include veterans, as defined in New Jersey law, who have a disability due to their military service and have lived with the caregiver for at least six months during the taxable year.

Additionally, the bill clarifies the income thresholds for "qualified family caregivers," allowing those with gross incomes up to $100,000 (if filing jointly, as head of household, or as a surviving spouse) or $50,000 (if filing separately or unmarried) to qualify for the credit. The bill also stipulates that if multiple caregivers qualify for the credit for the same veteran, the credit will be allocated based on their respective shares of 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