An Act establishing a tax credit for families caring for elderly relatives and victims of Alzheimer's and Dementia

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

An Act establishing a tax credit for families caring for elderly relatives and victims of Alzheimer's and Dementia

An Act establishing a tax credit for families caring for elderly relatives and victims of Alzheimer's and Dementia By Mr.

What This Bill Does

• An Act establishing a tax credit for families caring for elderly relatives and victims of Alzheimer's and Dementia By Mr.
• O'Connor, a petition (accompanied by bill, Senate, No.
• 2060) of Patrick M.
• O'Connor for legislation to establish a tax credit for families caring for elderly relatives and victims of Alzheimer's and Dementia.

Limits and Unknowns

• This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Official Summary Text

An Act establishing a tax credit for families caring for elderly relatives and victims of Alzheimer's and Dementia
By Mr. O'Connor, a petition (accompanied by bill, Senate, No. 2060) of Patrick M. O'Connor for legislation to establish a tax credit for families caring for elderly relatives and victims of Alzheimer's and Dementia. Revenue.

Current Bill Text

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Bill S.2060

Section 6 of chapter 62 of the General Laws, as appearing in the 2008 Official Edition, is hereby amended by inserting after paragraph (a) the following new paragraph:-

(b) A credit of $2,500 shall be allowed against the taxes due if the taxpayer has provided more than one-half of the support for an elderly relative who has attained the age of 70 before the taxable year, or for a totally disabled relative with Alzheimer’s Disease or Dementia, provided that the relative resided with the taxpayer for more than 6 months of the taxable year. If the credit provided in this section reduces the tax to zero, the taxpayer shall be entitled to a refund equal to the amount by which the amount of the credit exceeded the amount of tax due.

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