HB 7071 Summary

• Allows income tax deduction for ordinary and necessary expenses paid for care of any person 70 years or older related by blood, adoption, or marriage, capped at $60,000 annually for full-time home health care including medical supplies and homemaker-home health aide services.

• Permits deduction of up to $3,000 in annual expenses for care of qualifying individuals as defined in Section 21(b)(1)(A) of the Internal Revenue Code.

• Allows deduction of up to $60,000 annually for full-time home health care expenses for qualifying individuals as defined in Sections 21(b)(1)(B) and 21(b)(1)(C) of the Internal Revenue Code, including medical supplies and in-home services.

• Deductions apply only to expenses not deductible in determining federal adjusted gross income and are effective for taxable years commencing on or after January 1, 2019.