The bill introduced by Representatives Mathews and Williams seeks to amend sections 5747.08 and 5747.98 of the Revised Code and enact a new section, 5747.053, which establishes a nonrefundable income tax credit for family caregiving expenses. This new section defines important terms such as "activity of daily living," "eligible family member," "family caregiver," and "eligible expenses." Family caregivers who incur qualifying expenses can receive a tax credit equal to 30% of those expenses, with a maximum cap of $2,000 per taxable year. The bill also outlines eligibility criteria for family members and caregivers, including age and income thresholds, and allows multiple caregivers for the same family member to claim the credit, provided they do not claim it for the same expenses.

Additionally, the bill includes an insertion that adds the family caregiver credit to the list of credits under section 5747.98, ensuring its recognition within the existing tax framework. It also introduces a uniform procedure for claiming various tax credits in a specified order, while clarifying that no taxpayer can claim any credit more than once in a taxable year. The bill repeals existing sections 5747.08 and 5747.98, indicating a significant restructuring of the tax credit framework, and ensures that the new provisions will apply to taxable years ending on or after the bill's effective date. Overall, the legislation aims to enhance tax benefits for family caregivers and streamline the process for claiming tax credits.

Statutes affected:
As Introduced: 5747.08, 5747.98