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 the criteria for eligible expenditures, which 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 directly assist the caregiver in supporting an eligible family member who requires assistance with daily activities.

Beginning January 1, 2027, the bill allows family caregivers to claim a nonrefundable tax credit equal 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 alleviate some of the financial burdens faced by caregivers, thereby encouraging and supporting the provision of care within families.

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