construction of each new residential structure or unit; or
(2) 50% of the total amount expended, not to exceed
$5,000, for the renovation of each existing residence or
residential structure or unit.
(d) Prohibition.--No credit may be allowed under this
section for the purchase, construction or renovation of
residential rental property.
Section 1805-H. Procedure.
(a) Application.--A person eligible for a credit under this
article must apply for the credit by submitting an application
to the department. The department shall issue a certification
for an approved application to the person. The person shall
attach the certification to the applicable income tax return.
(b) Amount of credits.--The total amount of credits granted
under this article for a fiscal year shall not exceed
$1,000,000. In each year, the department shall allocate $500,000
in credits for the purchase or construction of new residences
and $500,000 in credits for the renovation of existing
residences or residential structures or units. If the amount of
credits approved in a fiscal year for the purchase or
construction of new residences is less than $500,000, the
secretary shall allocate the remaining balance of the credits
for the renovation of existing residences or residential
structures or units. If the amount of credits approved in a
fiscal year for the renovation of existing residences or
residential structures or units is less than $500,000, the
secretary shall allocate the remaining balance of the credits
for the purchase or construction of new residences.
(c) Applications exceeding allocation.--If applications for
the credit exceed the amount allocated by the secretary for the
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