Missouri House Bill HB2643

Missouri 2024 Regular Session

• Introduced: 2/6/24
• Refer: 5/17/24

Caption

Establishes a caregiver tax credit, a tax credit for certain vulnerable persons, and the "Missouri Child Tax Credit Act"

Impact

The bill is expected to have a notable impact on state laws by introducing specific tax relief measures for caregivers that may alleviate financial burdens associated with caring for family members. By creating a structured program for tax credits, the bill also aims to improve the quality of life for vulnerable individuals who rely on such support. Furthermore, this initiative may encourage more individuals to serve as caregivers in their communities, thereby addressing public health and social needs related to aging and disability.

Summary

House Bill 2643 seeks to establish new tax credits aimed at supporting caregivers who assist vulnerable individuals, including the Missouri Child Tax Credit Act. The bill introduces provisions for caregivers providing at least ten hours of personal care per week to qualified recipients who may be elderly or disabled. Additionally, it offers refundable tax credits starting January 1, 2025, which will allow these caregivers to claim up to $5,000 against their state tax liability, emphasizing the state's commitment to supporting family caregivers financially.

Contention

While the bill is generally seen as a positive step towards supporting caregivers, it may face opposition regarding funding and administrative challenges. Critics might argue that the tax credits could place additional strain on the state's budget, further complicating the allocation of resources for public services. Moreover, there may be concerns about the sustainability of the program, especially considering that the provisions are set to sunset six years after implementation unless reauthorized by the General Assembly. This potentially raises questions around long-term support for caregivers and the vulnerable populations they serve.