NJ
New Jersey Assembly Bill A5776

New Jersey 2024-2025 Regular Session

New Jersey Assembly Bill A5776

Introduced
6/12/25  

Caption

Provides gross income tax credit to qualified caregivers for care and support expenses incurred for qualifying senior parent.

Impact

This bill aims to alleviate the financial burden faced by caregivers in New Jersey by providing a direct tax credit for the costs associated with caregiving. By defining 'qualified care and support expenses' broadly to include various necessary services like home health care, adult day care, and assistive devices, the legislation ensures that caregivers have support for a wide range of situations. The tax credit is also refundable, which means that caregivers will receive a refund if the credit exceeds their tax liability, thus making it accessible to those caring for seniors, even if they have lower incomes.

Summary

Assembly Bill A5776 proposes to establish a gross income tax credit designed for qualified caregivers who incur expenses related to the care of a qualifying senior parent. Specifically, this tax credit allows a caregiver to claim an amount up to $10,000 each taxable year based on qualified care and support expenses incurred during that year. Notably, qualified caregivers can claim this credit in addition to any dependent deduction received for claiming their senior parent as a dependent on their tax returns, which potentially increases the financial relief available through this legislation.

Contention

Discussion around A5776 may bring up points of contention regarding its fiscal implications. Critics may argue about the potential lost revenue for the state due to the tax credit, while supporters will likely emphasize the growing need for support systems for caregivers due to the aging population. There might also be debates on the eligibility criteria for 'qualifying senior parents' and whether the definitions adequately encompass all potential situations caregivers face. Overall, the framework of the bill seeks to address the gap in affordable caregiving while balancing state revenue concerns.

Companion Bills

No companion bills found.

Previously Filed As

NJ S2303

Provides gross income tax credit for certain expenses paid or incurred for care and support of qualifying senior family member; designated as Caregiver's Assistance Act.

NJ A1581

Provides gross income tax credit for certain expenses paid or incurred for care and support of qualifying senior family member; designated as Caregiver's Assistance Act.

NJ A1802

Provides gross income tax credit for certain expenses paid or incurred for care and support of qualifying senior family member; designated as Caregiver's Assistance Act.

NJ S2021

Provides gross income tax credit for certain expenses paid or incurred for care and support of qualifying senior family member; designated as Caregiver's Assistance Act.

NJ A5887

Provides gross income tax credit for certain homeschooling expenses incurred by parent or guardian with increased credit for taxpayers homeschooling child or dependent with special needs.

NJ A1530

Provides gross income tax credit for certain homeschooling expenses incurred by parent or guardian with increased credit for taxpayers homeschooling child or dependent with special needs.

NJ A516

Provides temporary gross income tax credit to first time home buyers and seniors.

NJ A934

Provides temporary gross income tax credit to first time home buyers and seniors.

NJ S738

Provides temporary gross income tax credit to first time home buyers and seniors.

NJ A3858

Revises gross income tax credit for child and dependent care expenses.

Similar Bills

NJ S2303

Provides gross income tax credit for certain expenses paid or incurred for care and support of qualifying senior family member; designated as Caregiver's Assistance Act.

NJ A1581

Provides gross income tax credit for certain expenses paid or incurred for care and support of qualifying senior family member; designated as Caregiver's Assistance Act.

NJ A1802

Provides gross income tax credit for certain expenses paid or incurred for care and support of qualifying senior family member; designated as Caregiver's Assistance Act.

NJ S2021

Provides gross income tax credit for certain expenses paid or incurred for care and support of qualifying senior family member; designated as Caregiver's Assistance Act.

TX HB354

Relating to authorization for a caregiver who is a relative to enroll a child in school.

NJ S3256

Expands eligibility for gross income tax credit to family caregivers of certain armed service members with physical disabilities.

NJ A4291

Expands eligibility for gross income tax credit to family caregivers of certain armed service members with physical disabilities.

NJ S1511

Broadens eligibility for gross income tax credit to family caregivers of certain armed service members with physical disabilities.