VA SB632 | 2022 | Regular Session
Note: Carry Foward to future SB632
Status
Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 17 2022 - 25% progression, died in committee
Action: 2022-02-10 - Continued to 2023 in Finance and Appropriations (16-Y 0-N)
Pending: Senate Finance and Appropriations Committee
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on January 17 2022 - 25% progression, died in committee
Action: 2022-02-10 - Continued to 2023 in Finance and Appropriations (16-Y 0-N)
Pending: Senate Finance and Appropriations Committee
Text: Latest bill text (Introduced) [HTML]
Summary
Family caregiver tax credit. Creates a nonrefundable income tax credit for taxable years 2022 through 2026 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, (ii) have federal adjusted gross income that is no greater than $75,000 for an individual or $150,000 for married persons, and (iii) live in the same primary residence as the eligible family member for no fewer than 183 days during the taxable year. 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. Family caregiver tax credit. Creates a nonrefundable income tax credit for taxable years 2022 through 2026 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, (ii) have federal adjusted gross income that is no greater than $75,000 for an individual or $150,000 for married persons, and (iii) live in the same primary residence as the eligible family member for no fewer than 183 days during the taxable year. 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.
Title
Income tax, state; creates a nonrefundable credit for family caregivers.
Sponsors
| Sen. Mamie Locke [D] |
Roll Calls
2022-02-10 - Senate - Senate: Continued to 2023 in Finance and Appropriations (16-Y 0-N) (Y: 16 N: 0 NV: 0 Abs: 0) [PASS]
History
| Date | Chamber | Action |
|---|---|---|
| 2022-02-10 | Senate | Continued to 2023 in Finance and Appropriations (16-Y 0-N) |
| 2022-01-17 | Senate | Referred to Committee on Finance and Appropriations |
| 2022-01-17 | Senate | Presented and ordered printed 22104325D |
Same As/Similar To
SB632 (Carry Over) 2022-02-10 - Continued to 2023 in Finance and Appropriations (16-Y 0-N)
