| SB 0046 | Provides a tax credit for modifying a home for a disabled person |
| Sponsor: | Kennedy | |||
| LR Number: | 0175S.02I | Fiscal Note: | 0175-02 | |
| Committee: | Ways and Means | |||
| Last Action: | 04/01/03 - Hearing Scheduled, Not Heard S Ways & Means Committee | Journal page: | ||
| Title: | ||||
| Effective Date: | August 28, 2003 | |||
SB 46 - This act will enable a taxpayer making less than $30,000 per year who modifies their home to be accessible to a disabled person who resides with the taxpayer to claim a credit against their income tax for one hundred percent of the costs of modification, up to $2,500. For taxpayers making between $30,000 and $60,000, a credit will be allowed in the amount equal to fifty percent of the costs of modification, up to $2,500. All tax credits will be refundable, up to $2,500 per year. The credits are not transferrable.
The act applies to tax years beginning January 1, 2004.
This act is similar to SB 982 (2002).
JEFF CRAVER