UNOFFICIAL COPY AS OF 09/17/1802 REG. SESS.02 RS BR 1050
A CONCURRENT RESOLUTION to direct the Legislative Research Commission to have a study conducted to examine the potential costs and benefits to Kentuckians that would be associated with an expansion of the state tax credit for people who provide long-term care in their homes for elderly family members.
WHEREAS, for many people, caring for an elderly relative in their home is a labor of love, but also a major commitment of time and money; and
WHEREAS, many families have to stretch their budgets to incorporate the costs associated with caring for an elderly relative in their home; and
WHEREAS, it is estimated that the proportion of Kentucky's population that is elderly will continue to grow dramatically over the next decade; and
WHEREAS, the ability of private institutions and the state health care budget to address the needs of the elderly population of Kentucky is questionable; and
WHEREAS, the Commonwealth of Kentucky currently provides a tax credit that is twenty (20) percent of the federal credit for household and dependent care services necessary for gainful employment, but only if the elderly person is disabled and dependent on the taxpayers; and
WHEREAS, many elderly persons who live with family members are not disabled or dependent on the taxpayers but are in need of daily assistance and support; and
WHEREAS, an expanded state tax credit may help alleviate cost concerns so that families can focus even more on providing the best possible care for their loved ones and more people will be encouraged to care for elderly family members at home; and
WHEREAS, more that half of all states have either enacted or introduced legislation for state tax credits for elderly care;
NOW, THEREFORE,
Be it resolved by the House of Representatives of the General Assembly of the Commonwealth of Kentucky, the Senate concurring therein:
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BR105000.100-1050
UNOFFICIAL COPY AS OF 09/17/1802 REG. SESS.02 RS BR 1050
Section 1. The Legislative Research Commission is directed to complete a study to identify the costs and benefits to Kentucky of a variety of types and sizes of expanded state tax credits for people who provide long-term care in their home for elderly family members. The study shall include:
(1)An analysis of the use of the existing state tax credit for household and dependent care service;
(2)An estimate of the impact of increasing the size of the current state tax credit, expanding the definition of the population that is eligible for the current state tax credit, or both; and
(3)An overview of the types of tax credit proposals that have been considered by other states and the federal government and the possible impact of implementing those proposals in Kentucky.
Section 2. The Legislative Research Commission shall submit the results of the study required by Section 1 of this Resolution to the appropriate committees prior to the 2003 Regular Session of the General Assembly.
Section 3. Provisions of this Resolution to the contrary notwithstanding, the Legislative Research Commission shall have the authority to alternatively assign the issues identified herein to an interim joint committee or subcommittee thereof, and to designate a study completion date.
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BR105000.100-1050