VA SB419 | 2024 | Regular Session

Note: Carry Foward to future SB419

Status

Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: Introduced on January 9 2024 - 25% progression, died in committee
Action: 2024-02-07 - Continued to 2025 in Finance and Appropriations (11-Y 4-N)
Pending: Senate Finance and Appropriations Committee
Text: Latest bill text (Prefiled) [HTML]

Summary

Family caregiver tax credit. Creates a nonrefundable income tax credit for taxable years 2024 through 2028 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 and (ii) have federal adjusted gross income that is no greater than $100,000 for an individual or $200,000 for married persons.

Tracking Information

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Title

Family caregiver; creates a nonrefundable income tax credit for taxable years 2024 through 2028.

Sponsors


Roll Calls

2024-02-07 - Senate - Senate: Continued to 2025 in Finance and Appropriations (11-Y 4-N) (Y: 11 N: 4 NV: 0 Abs: 0) [PASS]

History

DateChamberAction
2024-02-07SenateContinued to 2025 in Finance and Appropriations (11-Y 4-N)
2024-01-09SenateReferred to Committee on Finance and Appropriations
2024-01-09SenatePrefiled and ordered printed; offered 01/10/24 24104631D

Same As/Similar To

SB419 (Carry Over) 2024-02-07 - Continued to 2025 in Finance and Appropriations (11-Y 4-N)

Subjects


Code Citations

ChapterArticleSectionCitation TypeStatute Text
581339.15(n/a)See Bill Text

Virginia State Sources


Bill Comments

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