The proposed bill introduces the Caregiver Tax Credit Act, which aims to provide financial relief to family caregivers in West Virginia. It establishes a new article in the state code that defines key terms such as "activities of daily living," "eligible expenditure," "eligible family member," and "family caregiver." The bill outlines that eligible expenditures include necessary improvements to a caregiver's home or vehicle, the purchase of medical equipment, and other related expenses incurred while providing care. It specifies that these expenditures must be directly related to assisting the caregiver and excludes general household maintenance costs.

Under the new provisions, starting from January 1, 2027, family caregivers will be eligible for 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 the necessary rules for the implementation and administration of this tax credit. The bill is designed to support family caregivers who provide essential care to eligible family members, thereby recognizing their contributions and alleviating some of the financial burdens associated with caregiving.

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