Bill Text: NC S574 | 2011-2012 | Regular Session | Amended

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Bill Title: Senior or Disabled Care Tax Credit

Spectrum: Partisan Bill (Democrat 6-0)

Status: (Introduced - Dead) 2011-04-14 - Ref To Com On Finance [S574 Detail]

Download: North_Carolina-2011-S574-Amended.html

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GENERAL ASSEMBLY OF NORTH CAROLINA

SESSION 2011

S                                                                                                                                                     1

SENATE BILL 574

 

 

Short Title:        Senior or Disabled Care Tax Credit.		(Public)
Sponsors:	Senators Robinson;  Atwater, Jones, Kinnaird, Mansfield, and Vaughan.
Referred to:	Finance.

April 14, 2011

A BILL TO BE ENTITLED

AN ACT to provide a tax credit to individuals providing in‑home care to senior or disabled relatives.

The General Assembly of North Carolina enacts:

SECTION 1.  Part 2 of Article 4 of Chapter 105 of the General Statutes is amended by adding a new section to read:

"§ 105‑151.18A.  Credit for senior or disabled relatives.

(a)        Credit. – A taxpayer who, without compensation, provides care to a qualifying relative is allowed as a credit against the tax imposed by this Part in an amount equal to the expense incurred by the taxpayer in providing the care, including training, supplies, and transportation costs. For purposes of this section, a "qualifying relative" is a relative who is related to the taxpayer by fewer than five degrees of kinship, as defined in G.S. 104A‑1, and who is either age 65 or older or permanently and totally disabled, as defined in G.S. 105‑151.18.

(b)        Limitations. – A nonresident or part‑year resident who claims the credit allowed by this section shall reduce the amount of the credit by multiplying it by the fraction calculated under G.S. 105‑134.5(b) or (c), as appropriate. The amount of credit allowed under this section may not exceed the lesser of five hundred dollars ($500.00) or the amount of tax imposed by this Part for the taxable year reduced by the sum of all credits allowable, except payments of tax made by or on behalf of the taxpayer.

(c)        No Double Benefit. – A taxpayer that claims a credit under this section may not claim a credit allowed under G.S. 105‑151.81 with respect to qualifying relative."

SECTION 2.  This act is effective for taxable years beginning on or after January 1, 2011.