VirginiaFamily caregiver; creates a nonrefundable income tax credit for taxable years 2024 through 2028.
What it does
Family caregiver tax credit. Creates a nonrefundable income tax credit for taxable years 2024 through 2028 for expenses incurred by an individual in caring for an eligible family member, defined in the bill, who requires assistance with one or more activities of daily living, also defined in the bill. The credit equals 50 percent of eligible expenditures incurred by the caregiver up to $1,000.
More detail
In order to qualify for the credit, the family caregiver must (i) not receive any compensation or reimbursement for the eligible expenditures and (ii) have federal adjusted gross income that is no greater than $100,000 for an individual or $200,000 for married persons.
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Where it stands
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2024
- Nov 19Left in Finance and AppropriationsLatest
- Feb 7Continued to 2025 in Finance and Appropriations (11-Y 4-N)
- Vote recorded S Continued to 2025 in Finance and Appropriations. Result: pass.Upper
- Jan 27Impact statement from TAX (SB419)
- Jan 9Referred to Committee on Finance and AppropriationsMinor
- Jan 9Prefiled and ordered printed; offered 01/10/24 24104631DIntroduced