|Posted:||December 9, 2016 11:34 AM|
|From:||Senator John T. Yudichak|
|To:||All Senate members|
|Subject:||Reintroduction of Legislation – Livable Home Tax Credit|
In the near future, I intend to reintroduce legislation (SB 1382) that would establish the Livable Home Tax Credit. This legislation will benefit residents, especially seniors and disabled residents, who seek to make home modifications that would improve accessibility and enable them to remain at their current residence.
Under this legislation, eligible homeowners may receive a tax credit up to $2,000 for accessibility features in a new residence or 50% of the amount expended (up to $2,000) to complete renovations to an existing residence. During the second year of the program, the maximum tax credit would increase to $5,000. This proposal would cap the amount of credits awarded under this article at $1 million. Similar tax credits are offered in Virginia and Maine.
I hope you’ll join me in sponsoring this important legislation. Should you have any questions, please contact my office at (717) 787-7105.
Previous co-sponsors include: Argall, Costa, Greenleaf, Vulakovich and Ward
Introduced as SB853