Income tax, state; creates a nonrefundable credit for family caregivers. (HB720)

Introduced By

Del. Eileen Filler-Corn (D-Fairfax Station) with support from co-patron Del. Ken Plum (D-Reston)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Family caregiver tax credit. Creates a nonrefundable income tax credit for taxable years 2022 through 2026 for expenses incurred by an individual in caring for an eligible family member, defined in the bill, who requires assistance with one or more activities of daily living, also defined in the bill. The credit equals 50 percent of eligible expenditures incurred by the caregiver up to $1,000. In order to qualify for the credit, the family caregiver must (i) not receive any compensation or reimbursement for the eligible expenditures, (ii) have federal adjusted gross income that is no greater than $75,000 for an individual or $150,000 for married persons, and (iii) live in the same primary residence as the eligible family member for no fewer than 183 days during the taxable year. The bill requires the Tax Commissioner to establish guidelines for claiming the credit and provides that any unused credit may be carried forward by the taxpayer for five taxable years following the taxable year for which the credit was issued. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/11/2022Committee
01/11/2022Prefiled and ordered printed; offered 01/12/22 22102340D
01/11/2022Referred to Committee on Finance
01/20/2022Assigned Finance sub: Subcommittee #1
01/23/2022Impact statement from TAX (HB720)
01/24/2022Subcommittee recommends striking from docket (8-Y 0-N)
02/15/2022Left in Finance

Duplicate Bills

The following bills are identical to this one: SB632.

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