Posted: | September 26, 2016 09:24 AM |
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From: | Senator John T. Yudichak |
To: | All Senate members |
Subject: | Legislation for a Livable Home Tax Credit |
In the near future, I intend to introduce legislation that would establish the Livable Home Tax Credit. This legislation will benefit residents, especially seniors and disabled residents, who seek to make modifications to their homes to improve accessibility. Under this legislation, the eligible homeowners may receive a tax credit up to $2,000 for accessibility features in a new residence or 50 percent of the amount expended (up to $2,000) to complete renovations to an existing residence. During the second year of the program, the tax credit would increase to $5,000 and would apply to homeowners as well as to construction contractors who complete the building or renovation. This proposal would cap the amount of credit awarded under this article at $1,000,000. Similar tax credits are offered in Virginia and Maine. I hope you’ll join me in sponsoring this legislation. Should you have any questions, please contact my office at (717) 787-7105. |
Introduced as SB1382