Virginia Senate Bill 266 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on January 11 2022 - 25% progression, died in committee
Action: 2022-11-21 - Left in Finance and Appropriations
Pending: Senate Finance and Appropriations Committee
Text: Latest bill text (Prefiled) [HTML]

Family caregiver tax credit. Creates a nonrefundable income tax credit for taxable years 2022 through 2026 for expenses incurred by an individual in caring for an eligible family member, defined in the bill, who requires assistance with one or more activities of daily living, also defined in the bill. The credit equals 50 percent of eligible expenditures incurred by the caregiver up to $1,000. In order to qualify for the credit, the family caregiver must (i) not receive any compensation or reimbursement for the eligible expenditures and (ii) have federal adjusted gross income that is no greater than $100,000 for an individual or $200,000 for married persons. The bill requires the Tax Commissioner to establish guidelines for claiming the credit and provides that any unused credit may be carried forward by the taxpayer for five taxable years following the taxable year for which the credit was issued. The bill is a recommendation of the Joint Commission on Health Care. Family caregiver tax credit. Creates a nonrefundable income tax credit for taxable years 2022 through 2026 for expenses incurred by an individual in caring for an eligible family member, defined in the bill, who requires assistance with one or more activities of daily living, also defined in the bill. The credit equals 50 percent of eligible expenditures incurred by the caregiver up to $1,000. In order to qualify for the credit, the family caregiver must (i) not receive any compensation or reimbursement for the eligible expenditures and (ii) have federal adjusted gross income that is no greater than $100,000 for an individual or $200,000 for married persons. The bill requires the Tax Commissioner to establish guidelines for claiming the credit and provides that any unused credit may be carried forward by the taxpayer for five taxable years following the taxable year for which the credit was issued. The bill is a recommendation of the Joint Commission on Health Care.

Income tax, state; creates a nonrefundable tax credit for family caregivers.

Sen. Ghazala Hashmi [D]

Sen. Jennifer McClellan [D]

2022-02-10 - Senate - Senate: Continued to 2023 in Finance and Appropriations (16-Y 0-N) (Y: 16 N: 0 NV: 0 Abs: 0) [PASS]

Date	Chamber	Action
2022-11-21	Senate	Left in Finance and Appropriations
2022-02-10	Senate	Continued to 2023 in Finance and Appropriations (16-Y 0-N)
2022-01-11	Senate	Referred to Committee on Finance and Appropriations
2022-01-11	Senate	Prefiled and ordered printed; offered 01/12/22 22103854D

SB266 (Carry Over) 2022-02-10 - Continued to 2023 in Finance and Appropriations (16-Y 0-N)

Chapter	Article	Section	Citation Type	Statute Text
58	1	339.13	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?231+sum+SB266
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?231+ful+SB266+hil
Supplement	https://lis.virginia.gov/cgi-bin/legp604.exe?231+oth+SB266F161+PDF
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?231+vot+S05C0215+SB0266