Catching Up Family Caregivers Act of 2024
This bill allows qualified family caregivers to make catch-up contributions to a retirement account for up to five years. A qualified family caregiver is an unemployed or severely underemployed adult who provides 500 hours or more of in-home care, monitoring, management, supervision, or treatment of an adult with special needs or a child during one tax year and has less than 500 hours of paid employment during the same tax year.
[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 9764 Introduced in House (IH)]
<DOC>
118th CONGRESS
2d Session
H. R. 9764
To amend the Internal Revenue Code of 1986 to allow additional catch-up
contributions for certain family caregivers.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
September 23, 2024
Ms. Pettersen (for herself and Ms. Salazar) introduced the following
bill; which was referred to the Committee on Ways and Means
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to allow additional catch-up
contributions for certain family caregivers.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Catching Up Family Caregivers Act of
2024''.
SEC. 2. ADDITIONAL CATCH-UP CONTRIBUTIONS FOR CERTAIN FAMILY
CAREGIVERS.
(a) In General.--Subparagraph (A) of section 414(v)(5) of the
Internal Revenue Code of 1986 is amended--
(1) by striking ``who would'' and inserting
``who--
``(i) would'',
(2) by adding ``or'' at the end, and
(3) by adding at the end the following new clause:
``(ii) is a qualified family caregiver for
the taxable year,''.
(b) Qualified Family Caregiver.--Paragraph (6) of section 414(v) of
the Internal Revenue Code of 1986 is amended by adding at the end the
following new subparagraphs:
``(D) Qualified family caregiver.--
``(i) In general.--Except as provided in
clause (ii), the term `qualified family
caregiver' means an individual who--
``(I) has completed 500 or more
hours as a family caregiver during the
taxable year or any 1 previous taxable
year, and
``(II) during the same taxable
year, has completed fewer than 500
hours of paid employment (including
self-employment).
``(ii) Limitation.--An individual shall be
treated as a qualified family caregiver for not
more than a total of, consecutively or
nonconsecutively, the lesser of--
``(I) 1 taxable year for each
taxable year during which such
individual met the requirements of
subclauses (I) and (II) of clause (i),
or
``(II) 5 taxable years.
``(iii) Family caregiver.--The term `family
caregiver' means an unpaid family member, a
foster parent, or another unpaid adult, who is
unemployed or severely underemployed (as
determined by the Secretary) and who provides
in-home care, monitoring, management,
supervision, or treatment of--
``(I) a child, or
``(II) an adult with a special need
(as defined in section 2901 of the
Public Health Service Act), including
an elderly adult who requires care or
supervision due to an age-related
condition.
``(iv) Hours.--An individual shall be
treated as serving as a family caregiver during
the hours in which the individual is engaged in
caregiving tasks including assistance with
bathing or grooming, dressing, laundry, food
shopping or preparation, housekeeping, managing
medications, transportation, and mobility
assistance.
``(v) Plan reliance on self-
certification.--An applicable employer plan is
entitled to rely on the written representation
of an individual that the individual was a
qualified family caregiver for a taxable year.
``(E) Applicable dollar amount for qualified family
caregivers.--An individual who is an eligible
participant for the taxable year by reason of being a
qualified family caregiver shall be treated for
purposes of paragraph (2) in the same manner as an
eligible participant who would attain age 60 but would
not attain age 64 before the close of the taxable
year.''.
(c) IRA Catch-Up Contributions.--Clause (i) of section 219(b)(5)(B)
of the Internal Revenue Code of 1986 is amended by striking ``who has
attained the age of 50 before the close of the taxable year, the
deductible amount'' and inserting ``who--
``(I) has attained the age of 50
before the close of the taxable year,
or
``(II) is a qualified family
caregiver (as defined in section
414(v)(6)(D)) for the taxable year,
the deductible amount''.
(d) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2024.
<all>
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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