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 specifically for 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 definition of "qualified family caregiver" and establishes income thresholds for eligibility based on filing status. The tax credit amount remains the same, allowing caregivers to claim a credit equal to 100% of the federal veteran disability compensation or $675, whichever is less. The bill aims to provide financial relief to a broader group of caregivers, ensuring that those who support veterans with disabilities receive the necessary tax benefits. The act will take effect immediately and apply to taxable years beginning on or after January 1 following its enactment.

Statutes affected:
Introduced: 54A:4-15