This bill establishes a gross income tax credit for qualified family caregivers who incur expenses for the care and support of qualifying family members. Caregivers can claim a credit of up to $3,000 per taxable year for these expenses, which can increase to $5,000 if the family member is a veteran or has a disability. To qualify for the credit, caregivers must provide documentation substantiating the care and support expenses, including receipts, proof of payment, and verification that the qualifying family member resides with them. If multiple caregivers are involved, the total credit claimed cannot exceed the specified limits.

Additionally, the bill allows caregivers to claim this tax credit alongside any dependent deductions or existing veteran care credits they may be eligible for. The credit is refundable, meaning that if it reduces the caregiver's tax liability to below zero, the remaining amount will be refunded as an overpayment. The bill also defines key terms such as "qualified family caregiver," "qualifying family member," and "qualified care and support expenses," ensuring clarity on eligibility and the types of expenses that qualify for the credit.