Personal income taxes: credit: family caregiver.

The Personal Income Tax Law allows various credits against the taxes imposed by that law. This bill, for each taxable year beginning and or after January 1, 2018, and before January 1, 2023, would allow a credit against those taxes in an amount equal to 50% of the amount paid or incurred by a family caregiver during the taxable year for eligible expenses, as defined, not to exceed $1,000. The bill would limit the aggregate amount of these credits to be allocated in each calendar year to $50,000,000. The bill would require the Franchise Tax Board to allocate and certify these tax credits to taxpayers on a first-come-first-served basis. The bill would make these provisions operative on the effective date of any budget measure specifically appropriating funds to the Franchise Tax Board for its costs to administer these provisions. This bill would take effect immediately as a tax levy.