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SENATE RECOGNIZES FAMILIES CARING FOR ELDERLY LOVED ONES

FROM THE OFFICE OF SENATOR KENNETH P. LAVALLE

6/12/2008

Senator Kenneth P. LaValle today announced that legislation he cosponsored to provide a tax exemption for people caring for an elderly family member has passed the Senate. The bill allows for a state income tax exemption to an individual taxpayer who cares for a parent or immediate family member, 70 years of age or older, residing in the taxpayer’s home.

“Many people choose to care for their elderly parents or siblings in their home rather than placing them in a long-term care facility when they become unable to live independently,” said Senator LaValle. “This requires a tremendous amount of time and energy and generates an additional expense for the household budget. The measure I sponsored would provide some financial relief and allow elderly loved ones to remain connected to their families.”

According to Senator LaValle, under this measure an individual caretaker would be allowed a New York State tax exemption of $1,000 for each dependent who is age 70 or older and whose gross income for the taxable year is not more than $5,000 or, in the case of a husband and wife, the joint income does not exceed $7,500.

“This measure will help eliminate the financial pressure of caring for an elderly family member and allow families to tend to the needs of their loved ones in the comfort of a familiar and loving home environment,” concluded Senator LaValle.