Bill Text: NJ S1546 | 2010-2011 | Regular Session | Introduced
Bill Title: Allows gross income tax deduction for taxpayers who provide support for elderly or disabled relative living in their home.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2010-03-04 - Introduced in the Senate, Referred to Senate Health, Human Services and Senior Citizens Committee [S1546 Detail]
Download: New_Jersey-2010-S1546-Introduced.html
Sponsored by:
Senator BILL BARONI
District 14 (Mercer and Middlesex)
SYNOPSIS
Allows gross income tax deduction for taxpayers who provide support for elderly or disabled relative living in their home.
CURRENT VERSION OF TEXT
As introduced.
An Act allowing a gross income tax deduction for taxpayers who provide support for an elderly or disabled relative living in their home and supplementing Title 54A of the New Jersey Statutes.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. a. A taxpayer filing an individual return with a gross income of not more than $50,000 or filing a joint return with a gross income of not more than $75,000 shall be allowed to deduct $5,000 from the taxpayer's gross income in a taxable year, if that taxpayer provided more than half of the support for the taxable year for a relative who resided in the taxpayer's home for at least six months of the taxable year. That relative shall have been at least 65 years of age on the last day of the taxable year or shall have received Social Security Disability Insurance benefits pursuant to 42 U.S.C. s.423 or Supplementary Security Income pursuant to 42 U.S.C. s.1381 for the full taxable year while being at least 18 years of age on the last day of that taxable year.
b. As used in this section, "support" means food, lodging, clothing, education, medical and dental care, recreation, transportation, and similar necessities.
2. This act shall take effect immediately and shall apply to taxable years beginning on or after January 1 next following the date of enactment.
STATEMENT
This bill allows a $5,000 gross income tax deduction for taxpayers who support an elderly or disabled relative living in their home. Support is defined as food, lodging, clothing, education, medical and dental care, recreation, transportation, and similar necessities.
To qualify for the deduction, a taxpayer must provide more than half of the support for the taxable year for an adult relative residing in the taxpayer's home for at least six months of the taxable year. In addition, that relative must receive Social Security Disability Insurance benefits or Supplementary Security Income for the full taxable year or must be at least 65 years of age prior to the taxable year. The deduction is available to filers of individual tax returns with gross incomes of not more than $50,000 and to filers of joint tax returns with gross incomes of not more than $75,000.
