Allows a tax deduction for medical expenses for Alzheimer's or dementia care.

The bill amends South Carolina's income tax code to allow a deduction for twenty percent of medical expenses incurred on behalf of another person for treatment or care for Alzheimer's disease or another form of dementia. This includes in-home treatment, care, and inpatient care centers, including hospice care if not covered by insurance or Medicare. The Department of Revenue will adopt rules necessary to implement this deduction, which takes effect upon approval by the Governor and applies to tax years beginning after 2024.

Allows a tax deduction for medical expenses for Alzheimer's or dementia care.

The bill amends South Carolina's income tax code to allow a deduction for twenty percent of medical expenses incurred on behalf of another person for treatment or care for Alzheimer's disease or another form of dementia. This includes in-home treatment, care, and inpatient care centers, including hospice care if not covered by insurance or Medicare. The Department of Revenue will adopt rules necessary to implement this deduction, which takes effect upon approval by the Governor and applies to tax years beginning after 2024.