HB 2715 Summary

• Creates a new generational income tax credit for taxpayers who incur qualifying expenses for the care and support of qualifying family members in their home, effective for taxable years beginning after December 31, 2023.

• Limits eligibility to Arizona residents with gross income not exceeding $200,000 (single filers) or $400,000 (joint filers) who incur qualifying caregiving expenses during the taxable year.

• Provides a credit equal to 50 percent of qualifying expenses, capped at $1,000 per year, with unused credits allowed to carry forward for up to five taxable years.

• Defines qualifying expenses as costs directly related to care or support of eligible family members, including home modifications, equipment purchases, home care aides, adult day care, and assistive technology; excludes ordinary household maintenance and insurance-reimbursed amounts.

• Defines "qualifying family member" as an individual age 18 or older who requires assistance with daily living activities and is the taxpayer's spouse, descendant, stepchild, parent, grandparent, sibling, or other specified relatives.