AGE Act of 2024

Summary

Americans Giving Care to Elders Act of  2024 or the AGE Act of 2024 This bill provides a new nonrefundable tax credit for 20% of a taxpayer’s expenses to care for an older adult, subject to limitations. The amount of expenses incurred during any year that may be taken into account for the tax credit may not exceed $6,000. Further, the tax credit begins to phase out once a taxpayer’s adjusted gross income exceeds $120,000. The tax credit applies to expenses to care for certain relatives or members of the taxpayer's household who have attained the age of 65 and require assistance with activities of daily living. Expenses eligible for the tax credit include amounts paid for medical care, lodging away from home, adult day services, personal care, respite care, assistive technologies and devices (including remote health monitoring), environmental modifications (including home modifications), and counseling or training for a caregiver.

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Timeline

1. 24 September 2024

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 24 September 2024

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 24 September 2024 · Official file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 24 September 2024

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 24 September 2024

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 24 September 2024

  Open at official source

Sponsors

• Sen. Klobuchar, Amy [D-MN] · D · Sponsor
• Sen. Smith, Tina [D-MN] · D · Sponsor
• · ssfi00 · Standing

Related records

• related to ← Americans Giving Care to Elders (AGE) Act of 2021