House Bill 1368 sets up a $2,000 tax credit for caregivers who are providing for a loved one who is 62 years or older, instead of using a nursing home. If the family member receiving care is a veteran or has dementia, the credit goes up to $3,000. The Oklahoma Senate passed the measure on Tuesday.
Senator John Michael Montgomery is the Senate author of HB 1368.
“Caregivers essentially have a full-time job assisting their family member, all while keeping up with their prior family, job, school, or other commitments,” Montgomery said. “Nearly 26% of Oklahomans over the age of 45 are currently providing care for a family member or friend. This care often keeps family out of expensive nursing home facilities but requires around-the-clock care including managing medications, preparing meals, traveling to medical appointments and other necessary supervision or assistance.”
He contends that if the bill becomes law it will save taxpayer money in the long run while providing some relief to families.
“By helping keep loved ones in their home longer, we’re also saving tax dollars. Families may spend a large amount to care for their relatives in need, so HB 1368 is designed to help offset those costs and ease some of the stress and worry that caregivers are left to deal with,” Montgomery said.
HB 1368 heads back to the Senate for further consideration.
