SENATE SENIOR CITIZENS, VETERANS' AFFAIRS AND AGRICULTURE COMMITTEE

 

STATEMENT TO

 

SENATE, No. 988

 

with committee amendments

 

STATE OF NEW JERSEY

 

DATED: MAY 2, 1996

 

 

      The Senate Senior Citizens, Veterans' Affairs and Agriculture Committee reports favorably Senate Bill, No. 988, with committee amendments.

      The SENATE Senior Citizens, Veterans' Affairs and Agriculture Committee reports favorably Senate Bill No. 988. This bill, as amended, supplements Title 54A of the New Jersey Statutes to provide a $3,000 deduction from the gross income of a New Jersey taxpayer who provides more than one-half of the support of a relative, at least 70 years of age and who lives in the taxpayer's home for at least six months of the taxable year. To qualify for this deduction, the gross income of a taxpayer filing an individual return may not exceed $35,000 and the gross income of a taxpayer filing a joint return may not exceed $50,000.

      Current law does not provide for this type of deduction.

      The committee amended the effective date of the bill to make it take effect January 1 next following enactment and be applicable to each taxable year beginning on and after that effective date.

      The committee made a technical change in the title and synopsis to clarify that the deduction is available for qualifying families providing care for elderly relatives in their homes.