Bill > SB419

This bill creates a nonrefundable income tax credit for family caregivers in Virginia during taxable years 2024 through 2028. The credit is designed to help individuals who provide care for eligible family members requiring assistance with activities of daily living (ADLs), which include basic self-care tasks like bathing, dressing, and eating. To qualify, the family caregiver must have a federal adjusted gross income no higher than $100,000 for an individual or $200,000 for married persons, and cannot receive compensation or reimbursement for their caregiving expenses. The tax credit covers 50% of eligible expenditures up to $1,000, which can include home modifications, assistive equipment, home care services, respite care, transportation, and legal or financial services related to caring for the family member. An eligible family member must be at least 18 years old, a Virginia resident, require assistance with ADLs as certified by a healthcare professional, and be either a dependent, related by blood/marriage/adoption, or under the caregiver's legal guardianship. If the tax credit exceeds the caregiver's tax liability in a given year, the remaining credit can be carried forward for up to five subsequent tax years.

Budget and Finance

https://lis.virginia.gov/cgi-bin/legp604.exe?251+sum+SB419