Bill providing tax credit to caregivers of family members passes through Oklahoma House
OKLAHOMA CITY (KOKH) — A bill that would grant a tax credit to people who serve as caregivers to older family members living at home passed unanimously through the Oklahoma House of Representatives on Tuesday.
House Majority Leader Tammy West, R-Oklahoma City, secured the unanimous passage of House Bill (HB) 1368, commonly known at the Caring for Caregivers bill.
The Caring for Caregivers bill would allow a tax credit to individuals who are caring for family members who are over the age of 62 and meets specific qualifications. The tax credit is up to $2,000 per year, or up to $3,000 per year if the family member is a veteran or has Alzheimer's disease or related dementias.
The credit is for out-of-pocket costs incurred by the unpaid family caregiver for a limited set of services. It is capped at $1.5 million per year.
"So many people selflessly choose to care for an ailing family member," West said. "This often comes at great personal expense. This bill is a way to help compensate them for their out-of-pocket expenses. This also supports their choice to take care of their own rather than having to rely on an outside source to care for their loved one."
The House passed the same legislation last year, but it did not advance through the State Senate. This year's version has once again gained bipartisan support and passed unanimously.
HB 1368 now moves to the Senate, where it is authored by Sen. John Michael Montgomery, R-Lawton.
For more local news delivered straight to your inbox sign up for our daily newsletter by clicking here.