Senate Bill S8650

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   8650
 
                             I N  S E N A T E
 
                              January 7, 2026
                                ___________
 
 Introduced  by  Sen.  CLEARE -- read twice and ordered printed, and when
   printed to be committed to the Committee on Budget and Revenue
 
 AN ACT to amend the tax law, in relation to establishing a caregiver tax
   credit; and to amend the elder law,  in  relation  to  establishing  a
   family caregiver reimbursement program
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. Section 606 of the tax law  is  amended  by  adding  a  new
 subsection (uuu) to read as follows:
   (UUU)  CAREGIVER  CREDIT.  (1) FOR TAXABLE YEARS BEGINNING ON OR AFTER
 THE FIRST  OF  JANUARY  NEXT  SUCCEEDING  THE  EFFECTIVE  DATE  OF  THIS
 SUBSECTION,  A QUALIFYING TAXPAYER SHALL BE ALLOWED A CREDIT AGAINST THE
 TAXES IMPOSED BY THIS ARTICLE IN THE AMOUNT OF FIFTY  PERCENT  OF  THEIR
 OUT-OF-POCKET SPENDING ON CAREGIVER EXPENSES, NOT TO EXCEED SIX THOUSAND
 DOLLARS.
   (2)  A  TAXPAYER  SHALL  BE  ELIGIBLE  FOR  A  TAX  CREDIT  UNDER THIS
 SUBSECTION IF SUCH TAXPAYER MEETS THE FOLLOWING CRITERIA:
   (A) TAKE CARE OF AN INDIVIDUAL AGE  EIGHTEEN  OR  OLDER  WHO  REQUIRES
 ASSISTANCE  WITH AT LEAST ONE ACTIVITY OF DAILY LIVING, AS DEFINED IN 10
 NYCRR 69-10.1;
   (B) QUALIFY AS A DEPENDENT PURSUANT TO 26 USC 152(D); AND
   (C) MEET THE INCOME ELIGIBILITY REQUIREMENTS OF  SUBSECTION  (C-1)  OF
 THIS SECTION.
   (3)  IF THE AMOUNT OF THE CREDIT ALLOWED UNDER THIS SUBSECTION FOR ANY
 TAXABLE YEAR SHALL EXCEED THE TAXPAYER'S TAX FOR SUCH YEAR,  THE  EXCESS
 SHALL  BE TREATED AS AN OVERPAYMENT OF TAX TO BE CREDITED OR REFUNDED IN
 ACCORDANCE WITH THE PROVISIONS OF SECTION SIX HUNDRED EIGHTY-SIX OF THIS
 ARTICLE, PROVIDED, HOWEVER, THAT NO INTEREST SHALL BE PAID THEREON.
   (4) THE COMMISSIONER IN CONSULTATION WITH THE DIRECTOR  OF  THE  STATE
 OFFICE  FOR  THE AGING SHALL PROMULGATE ALL RULES AND REGULATIONS NECES-
 SARY FOR THE IMPLEMENTATION OF THIS SUBSECTION.
   § 2. The elder law is amended by adding a new section 221 to  read  as
 follows:
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD14206-01-5
              

 S. 8650                             2
 
   §  221.  FAMILY  CAREGIVER  REIMBURSEMENT  PROGRAM.  1. WITHIN AMOUNTS
 APPROPRIATED THEREFOR, THE OFFICE SHALL ESTABLISH AND ADMINISTER A FAMI-
 LY CAREGIVER REIMBURSEMENT PROGRAM TO OFFSET OUT-OF-POCKET  SPENDING  BY
 FAMILY  CAREGIVERS  FOR  EXPENSES  INCLUDING,  BUT  NOT LIMITED TO, HOME
 MODIFICATIONS AND ASSISTIVE TECHNOLOGY.
   2. THE DIRECTOR OF THE OFFICE IS DIRECTED TO WORK IN CONSULTATION WITH
 THE  COMMISSIONER  OF  TAXATION AND FINANCE, TO PROMULGATE ALL RULES AND
 REGULATIONS NECESSARY FOR THE IMPLEMENTATION OF THIS SECTION.
   § 3. This act shall take effect on the one hundred eightieth day after
 it shall have become a law. Effective immediately, the addition,  amend-
 ment and/or repeal of any rule or regulation necessary for the implemen-
 tation  of  this act on its effective date are authorized to be made and
 completed on or before such effective date.