HB 194 (BR 290) - C. Belcher
AN ACT relating to elder care income tax credits.
Create a new section of KRS Chapter 141 to define "qualified senior citizen," "eligible taxpayer"; allow a nonrefundable "elder care" income tax credit for persons who care for a qualified senior citizen in their home or the caregiver's home; provide that the tax credit be based upon a percentage of the caregiver's tax liability and the caregiver's adjusted gross income; provide a tax credit schedule; provide that the caregiver include the name and social security number of the qualified senior citizen on the return claiming the credit or other form as required by the Revenue Cabinet; allow the Revenue Cabinet to require additional information as needed to establish eligibility; amend KRS 141.0205 to establish the order in which the credit may be taken; provide that the credit be effective for taxable years beginning on or after January 1, 2005.
Feb 1-introduced in House
Feb 2-to Appropriations and Revenue (H)