Establishes a tax credit against income tax based on eligible expenses incurred for care and support of an eligible family member.

Rhode Island Family Caregiver Tax Credit Act

This bill would create a new tax credit for Rhode Island residents who spend their own money to care for a family member who needs support. If passed, eligible caregivers could subtract a portion of what they spent on caregiving from the amount of state income tax they owe. The goal is to provide some financial relief to people who take on the responsibility of caring for a loved one at home or in the community.

The credit would apply to "eligible expenses" — meaning money spent on things like medical care, personal assistance, or other support services for a qualifying family member. The bill defines who counts as an "eligible family member," which would likely include relatives such as aging parents, spouses, or other dependents who need care due to age, illness, or disability. The exact dollar amounts and percentage of expenses covered would be determined by the specific terms written into the bill.

This legislation would primarily affect family members who serve as unpaid or informal caregivers and who pay out-of-pocket costs to support their loved ones. Many caregivers across the country spend thousands of dollars each year on caregiving-related expenses without any financial assistance, so this credit could help offset some of those costs at tax time. Currently, the bill has been introduced and sent to the House Finance Committee for review, where lawmakers will evaluate its cost to the state and any additional details before deciding whether to move it forward.