Bill > A1802

This bill, known as the Caregiver's Assistance Act, provides a gross income tax credit for certain expenses paid or incurred by qualified caregivers for the care and support of qualifying senior family members. The key provisions include: 1. A qualified caregiver with a gross income not exceeding $100,000 (or $50,000 if married/civil union filing separately or unmarried/not filing as head of household) can claim a 22.5% tax credit on up to $3,000 of qualified care expenses. 2. If two or more qualified caregivers care for the same qualifying senior family member, the credit is allocated equally unless they provide a written agreement to the director establishing a different allocation. 3. The qualified caregiver can claim both the credit and a dependent deduction for the qualifying senior family member. 4. Any unused credit can be refunded to the taxpayer as an overpayment of tax. 5. Qualified care expenses include costs for home health services, adult day care, personal care, home modifications, and other assistive devices and services necessary to maintain the qualifying senior family member at the caregiver's or the senior's permanent place of abode. 6. A qualifying senior family member is 60 years or older (or 50 years or older and receiving Social Security Disability Insurance) and has a gross income not exceeding the New Jersey Elder Index.

Budget and Finance, Health and Social Services

https://www.njleg.state.nj.us/bill-search/2022/A1802