Bill > A05803

This bill introduces a new personal income tax exemption for New York resident taxpayers who have dependent family members aged 65 or older living with them, and requires the Office for the Aging to report on the impact of this tax incentive. Specifically, the bill allows resident taxpayers to claim an additional tax exemption for each dependent who is 65 or older and residing with them, provided they are also eligible for a federal tax exemption for that dependent. In cases where married couples file separate New York state tax returns but joint federal returns, only one spouse can claim the additional exemption. The bill is motivated by a legislative intent to support families caring for elderly relatives at home, recognizing the financial and personal commitment involved in such care. The Office for the Aging will be required to produce a biennial report examining how this tax incentive interacts with existing aging support programs, including its effectiveness in helping families care for elderly dependents and potential recommendations for public information. The tax exemption will apply to taxable years beginning one year after the bill's effective date, aiming to provide financial relief and encourage familial care for older adults.

Health and Social Services

https://www.nysenate.gov/legislation/bills/2025/A5803