“To amend the Internal Revenue Code of 1986 to provide a refundable credit for certain home accessibility improvements.”
No CRS summary available for this bill.
This section establishes a new refundable tax credit equal to 35% of qualified home accessibility improvement expenditures paid or incurred for the principal residence of a qualified individual (i.e., the taxpayer, spouse, or dependent who is age 60 or older; receives disability-related benefits under specified veterans, Social Security, or SSI programs; or has a physician certification of a severe impairment expected to last at least 12 months or blindness). The credit is capped at $10,000 of expenditures per taxable year and $30,000 lifetime, with phaseouts for taxpayers with modified adjusted gross income over $200,000 ($400,000 joint; $200,000 head of household) across phaseout ranges of $50,000 ($100,000 joint; $75,000 head of household). Qualified expenditures include ramps for no-step entry, handrails and bathroom modifications, widened doorways or hallways, modified counters or appliances, porch lifts, adaptive alarms, non-slip flooring, and other modifications specified by the Secretary of the Treasury (in consultation with other specified agencies).