The proposed bill aims to establish the Caregiver Tax Credit Act in West Virginia, which introduces a tax credit for family caregivers who incur eligible expenses while providing care to eligible family members. The bill defines key terms such as "activities of daily living," "eligible expenditure," "eligible family member," and "family caregiver," outlining the criteria for each. Eligible expenditures include improvements to the caregiver's or family member's residence or vehicle, the purchase of necessary medical equipment, and other related expenses such as hiring home care aides or transportation costs.

The bill stipulates that for taxable years beginning after January 1, 2027, family caregivers can receive a nonrefundable tax credit amounting to 50% of their eligible expenditures, with a maximum credit limit of $2,000. The West Virginia Department of Revenue is tasked with creating rules to implement and administer this tax credit. The act is set to take effect on January 1, 2027, providing financial support to caregivers who play a crucial role in assisting their family members.

Statutes affected:
Introduced Version: 11-29-1, 11-29-2, 11-29-3, 11-29-4
Committee Substitute: 11-29-1, 11-29-2, 11-29-3, 11-29-4