VirginiaHB10782025 Regular SessionHouse

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

Sponsored By: Sam Rasoul (Democratic)

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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. 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.

Finance

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Sam Rasoul

    Democratic • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 7 • No: 0

House vote • 2/7/2024

Continued to 2025 in Finance (Voice Vote)

Yes: 0 • No: 0

House vote • 2/5/2024

Subcommittee recommends continuing to 2025

Yes: 7 • No: 0

Actions Timeline

  1. Left in Finance

    11/18/2024House
  2. Continued to 2025 in Finance (Voice Vote)

    2/7/2024House
  3. Subcommittee recommends continuing to 2025 (7-Y 0-N)

    2/5/2024House
  4. Assigned Finance sub: Subcommittee #3

    2/2/2024House
  5. Impact statement from TAX (HB1078)

    1/29/2024House
  6. Referred to Committee on Finance

    1/10/2024House
  7. Prefiled and ordered printed; offered 01/10/24 24100467D

    1/10/2024House

Bill Text

  • Introduced

    2/2/2024

Related Bills

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