NJ S4947

Establishes a refundable gross income tax credit of up to $2,500 per year for New Jersey residents who pay qualified care and support expenses for a qualifying relative or individual with disabilities

Qualifying relatives must be 65+ years old, or 50+ years old with Social Security Disability Insurance and income below the Elder Economic Security Standard Index; individuals with disabilities must have impairments as defined by the Americans with Disabilities Act

Eligible expenses include home health services, adult day care, respite care, medical equipment, home modifications, assistive devices, and medical transportation, but exclude costs reimbursed by insurance or government programs

Caregivers must document that the care recipient co-resides with them or that they provide at least 120 hours of care annually, with itemized receipts and proof of payment required

Credit can be claimed in addition to the dependent deduction, and if multiple caregivers provide care for the same person, the combined credit cannot exceed $2,500 total