HB 1078

  • Virginia House Bill
  • 2024 Regular Session
  • Introduced in House Jan 10, 2024
  • House
  • Senate
  • Governor

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

Abstract

Family caregiver tax credit. Creates a nonrefundable income tax credit for taxable years 2024 through 2028 for expensesincurred by an individual in caring for an eligible family member,defined in the bill, who requires assistance with one or more activitiesof daily living, also defined in the bill. The credit equals 50 percentof eligible expenditures incurred by the caregiver up to $1,000. In order to qualify for the credit, the family caregiver must (i) notreceive any compensation or reimbursement for the eligible expendituresand (ii) have federal adjusted gross income that is no greater than$100,000 for an individual or $200,000 for married persons. The billrequires the Tax Commissioner to establish guidelines for claimingthe credit and provides that any unused credit may be carried forwardby the taxpayer for five taxable years following the taxable yearfor which the credit was issued.

Bill Sponsors (7)

Votes


Actions


Feb 07, 2024

House

Continued to 2025 in Finance

Feb 05, 2024

House

Subcommittee recommends continuing to 2025 (7-Y 0-N)

Feb 02, 2024

House

Assigned Finance sub: Subcommittee #3

Jan 29, 2024

House

Impact statement from TAX (HB1078)

Jan 10, 2024

House

Prefiled and ordered printed; offered 01/10/24 24100467D

House

Referred to Committee on Finance

Bill Text

Bill Text Versions Format
Prefiled and ordered printed; offered 01/10/24 24100467D PDF HTML

Related Documents

Document Format
Fiscal Impact Statement: HB1078F161.PDF PDF

Sources

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