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." It specifies that eligible expenditures can include home modifications, vehicle alterations, and the purchase of necessary medical equipment, among other expenses directly related to caregiving. The bill also outlines that eligible family members must be 18 years or older, live in a private residence, and require assistance with daily activities as certified by a healthcare provider.

The bill authorizes a tax credit of 50% of eligible expenditures, with a maximum allowable credit of $2,000, effective for taxable years beginning after January 1, 2027. It establishes that the credit is nonrefundable and cannot be carried forward if unused. Additionally, the West Virginia Department of Revenue is tasked with creating rules for the implementation and administration of this tax credit. Overall, the bill seeks to provide financial relief to family caregivers, recognizing their essential role in supporting individuals who require assistance.

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