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Bill

Bill

S 4947

Provides gross income tax credit to qualified caregivers for care and support expenses incurred for qualifying relative or individual with disabilities.

2024-2025 Regular Session Introduced by Kristin Corrado and 1 co-sponsor

New Jersey proposes income tax credits for family caregivers of disabled relatives to offset care expenses and reduce financial burden on unpaid caregivers.

Introduced in the Senate, Referred to Senate Budget and Appropriations Committee
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Bill Summary · S 4947

Legislative bill overview

S 4947 establishes a gross income tax credit for qualified caregivers who incur expenses while providing care and support to qualifying relatives or individuals with disabilities. The credit would reduce the state income tax liability of caregivers who meet eligibility requirements related to care-giving activities and expense thresholds.

Why is this important

Unpaid family caregiving represents a substantial economic contribution often unsupported by tax relief. This bill would provide direct financial assistance to New Jersey residents bearing significant out-of-pocket costs for disability care and support, potentially reducing financial strain on middle and lower-income households managing care responsibilities alongside employment.

Potential points of contention

  • Fiscal impact unclear: The bill's cost to the state treasury depends on credit size, eligibility thresholds, and estimated caregiver population—details not specified in the bill introduction
  • Definition ambiguity: "Qualifying relative or individual with disabilities" and "care and support expenses" lack defined parameters, creating uncertainty about who qualifies and what costs are covered
  • Alternative approaches: Policymakers may debate whether direct subsidies, expanded Medicaid coverage, or dependent care accounts would more efficiently address caregiver financial hardship than a tax credit

Compiled from official sources — confirm details with the bill’s official record.

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