Bill > SB697

This bill establishes the Caregiver Tax Credit Act, which provides a tax credit for family members who provide care for eligible relatives. The bill defines key terms such as "activities of daily living" (including basic self-care tasks like bathing, dressing, and toileting), "eligible expenditures" (expenses related to caring for a family member, such as home modifications, medical equipment, respite care, and transportation), and specifies who qualifies as an "eligible family member" and a "family caregiver". Starting in 2027, the bill allows qualifying family caregivers to receive a tax credit equal to 50% of their eligible expenses, with a maximum credit of $2,000. To be eligible, the care recipient must be 18 or older, related to the caregiver, living in a private home, and require assistance with at least one daily living activity, as certified by a healthcare provider. The tax credit is nonrefundable, meaning it can reduce the caregiver's tax liability to zero but cannot result in a cash refund, and any unused credit cannot be carried forward to future tax years. The West Virginia Department of Revenue will be responsible for creating rules to implement and administer this new tax credit.