SB 697
Creating Caregiver Tax Credit Act
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Sign in to take action- Introduced
- Passed Senate
- Passed House of Delegates
- To Governor
- Became Law
Bill overview
Senate Bill 697 proposes the Caregiver Tax Credit Act, which aims to provide financial assistance to individuals who serve as family caregivers. The bill establishes a tax credit for eligible expenditures incurred by family caregivers supporting eligible family members who require assistance with daily living activities. This credit is designed to help cover out-of-pocket expenses related to caregiving, such as home modifications, equipment, and respite care.
Key provisions
- Establishes a 50% tax credit for eligible caregiver expenses.
- Defines ‘eligible expenditure’ as improvements to the home, vehicle, equipment, or specific care-related expenses.
- Specifies who qualifies as an ‘eligible family member’ – an individual 18 or older requiring assistance with daily living activities.
- Defines ‘family caregiver’ as a resident individual providing care and incurring uncompensated expenses.
- The maximum credit amount is $2,000.
- The credit is nonrefundable and cannot be carried forward.
- The West Virginia Department of Revenue will create rules for implementing the credit.
- The Act takes effect January 1, 2027.
Who is affected
- Family caregivers
- Eligible family members requiring assistance
- Taxpayers in West Virginia
- Individuals providing care to family members
- Healthcare providers
Notable changes
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