To amend the Internal Revenue Code of 1986 to establish a credit for adult child caregivers.

Financial Relief for Caregivers: An eligible individual can receive a credit of $2,000 for each qualified relative they care for, which helps offset the costs of caregiving. Section 2(a)

Support for Older Adults' Health: The bill's findings suggest that living in multigenerational homes can lead to less depression and isolation, as well as improved cognition for those with hearing loss. Section 1(2)

Reduced Institutionalization: Providing care within the home may reduce the need for formal care; specifically, an older adult with dementia and disability who lives with an adult child has a 50 percent lower risk of moving to a nursing home within two years. Section 1(3)

Income Restrictions: The $2,000 credit is reduced by 1 percent for every dollar the taxpayer's adjusted gross income exceeds $75,000 (or $150,000 for joint returns), which could limit the benefit for middle-income earners. Section 2(a)(c)(1)

Caregiver Requirements: To receive the credit, the caregiver must meet strict criteria, including living with the relative for at least 6 months, providing at least 10 hours of assistance per week, and obtaining a signed attestation from a licensed health care provider. Section 2(a)(1)(C), (D), and (E)

Limitations on Number of Relatives: A taxpayer can only claim the credit for a maximum of two qualified relatives per year. Section 2(a)(c)(3)

Restrictions on Married Taxpayers: Married individuals are only eligible for this credit if they file a joint return with their spouse. Section 2(a)(c)(4)