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 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 supporting veterans, thereby enhancing the support system for those who care for individuals with service-related disabilities. 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