Bill > A00635

This bill introduces a new tax credit for qualified caregivers in New York state, effective from 2026 to 2028, designed to help offset expenses related to caring for family members. The credit is available to New York state resident taxpayers with a federal adjusted gross income of $75,000 or less for individuals and $150,000 or less for couples who provide care to a family member aged 18 or older who requires assistance with at least one activity of daily living (ADL). Eligible caregiving expenses include home health agency services, adult day care, personal care services, home modifications, transportation, legal and financial services, and assistive technologies. The tax credit will cover up to 50% of qualified expenses, with a maximum annual credit of $3,500, and the total statewide allocation of credits is limited to $35 million per year. Caregivers must apply through the state department, which will certify applications on a first-come, first-served basis. The bill requires annual reporting to evaluate the effectiveness of the program and mandates that the state develop regulations by October 31, 2025. The tax credit will automatically expire on December 31, 2028, unless renewed or modified by future legislation.

Budget and Finance

https://www.nysenate.gov/legislation/bills/2025/A635