New York S 4383: Provides a tax credit for qualified caregiving expenses

Bill Text

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S04383 Summary:

BILL NOS04383 

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SAME ASSAME AS A00635

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SPONSORMAY

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COSPNSR

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MLTSPNSR

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Amd §606, Tax L

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Provides a tax credit for qualified caregiving expenses.

Go to top S04383 Actions:

BILL NOS04383 

&nbsp

02/04/2025REFERRED TO BUDGET AND REVENUE

01/07/2026REFERRED TO BUDGET AND REVENUE

Go to topS04383 Committee&nbspVotes:

Go to topS04383 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topS04383 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 4383

 2025-2026 Regular Sessions

 IN SENATE

 February 4, 2025
 ___________

 Introduced by Sen. MAY -- read twice and ordered printed, and when
 printed to be committed to the Committee on Budget and Revenue

 AN ACT to amend the tax law, in relation to providing a tax credit for
 qualified caregiving expenses; and to provide for the repeal of such
 provisions upon the expiration thereof

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Section 606 of the tax law is amended by adding a new
 2 subsection (rrr) to read as follows:
 3 (rrr) Caregiving tax credit. (1) For taxable years beginning on or
 4 after January first, two thousand twenty-six, a qualified caregiver
 5 shall be allowed a credit against the tax imposed by this article for a
 6 portion of the total purchase price paid for a qualified caregiving
 7 expense by such a qualified caregiver for performing caregiving duties
 8 provided to a qualified family member that resided within this state.
 9 (2) For purposes of this section (A) "qualified caregiving expense"
 10 means payments made by the qualified caregiver for goods and services
 11 which are provided to or for the benefit of the qualifying family member
 12 or to assist the qualified caregiver in caring for the qualifying family
 13 member. Such expenses include, but are not limited to, home health agen-
 14 cy services, adult day care, companionship services, personal care
 15 attendant services, homemaker services, respite care, health care equip-
 16 ment, assistive devices and supplies, home modification, transportation,
 17 legal or financial services, and assistive technology.
 18 (B) "qualified family member" means an individual who is: (i) at least
 19 eighteen years of age during a taxable year; (ii) a resident of New York
 20 state; (iii) requires assistance with at least one activity of daily
 21 living (ADL), as certified by a licensed health care practitioner; and
 22 (iv) is an individual who qualifies as a dependent, spouse, domestic
 23 partner as defined by section four of the workers' compensation law,
 24 sibling, partner, parent or other relation by blood or marriage, includ-

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD00187-01-5

 S. 4383 2

 1 ing an in-law, grandparent, grandchild, step-parent, aunt, uncle, niece,
 2 or nephew of the qualified caregiver.
 3 (C) "qualified caregiver" means an individual who is a New York state
 4 resident taxpayer for the taxable year. In the case of a joint return,
 5 the term includes the individual and the individual's spouse. The quali-
 6 fied caregiver claiming the credit must have a federal adjusted gross
 7 income of seventy-five thousand dollars or less for an individual and
 8 one hundred fifty thousand dollars or less for a couple, and incur
 9 uncompensated expenses directly related to the care of a qualified fami-
 10 ly member. In addition, qualified caregivers must provide care to one or
 11 more eligible qualified family members during the taxable year, and be
 12 eligible to receive a credit against the family caregiver's state tax
 13 liability for the taxable year.
 14 (3) The credit established pursuant to this subsection shall be
 15 allowed for the taxable year in which the qualified caregiver incurred
 16 the qualified caregiving expense. The credit established under this
 17 subsection shall not exceed fifty percent of the total amount expended,
 18 and shall not exceed three thousand five hundred dollars.
 19 (4) If the allowable amount of the credit exceeds the taxes otherwise
 20 due under this article for the taxable year, the unused amount of th