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H.344

Introduced by Representatives Donahue of Northfield, Frank of Underhill, French of Randolph, Green of Berlin, Haas of Rochester, Koch of Barre Town, Martin of Springfield, McAllister of Highgate, Niquette of Colchester and Pugh of S. Burlington

Referred to Committee on

Date:

Subject:  Taxation; income tax credit for handicapped accessibility construction

Statement of purpose:  This bill proposes to provide an income tax credit for handicapped accessibility construction costs.

AN ACT RELATING TO HANDICAPPED ACCESSIBILITY INCOME TAX CREDIT

It is hereby enacted by the General Assembly of the State of Vermont:

Sec. 1.  32 V.S.A. chapter 151, subchapter 11K is added to read:

Subchapter 11K.  Handicapped Accessibility Credit

§ 5930y.  HANDICAPPED ACCESSIBILITY CONSTRUCTION CREDIT

(a)  An eligible taxpayer of this state shall be eligible for a nonrefundable credit against the income tax imposed under this chapter of up to $500.00 of eligible accessibility costs paid by the taxpayer during the taxable year.  Any unused credit may be carried forward for three succeeding tax years.

(b)  In this section:

(1)  “Accessibility feature” means:

(A)  a no-step entrance into the residence;

(B)  interior passage doors with a minimum 32-inch-wide opening;

(C)  reinforcements in bathroom walls allowing installation of grab bars around the toilet, bathtub, and shower;

(D)  handicapped-accessible light switches and electric outlets;

(E)  adapted smoke detectors and alarms adapted for the deaf or hard of hearing.

(2)  “Eligible accessibility costs” means the cost to the eligible taxpayer of:

(A)  the accessibility features in new residential construction containing all of the accessibility features in each dwelling unit; or

(B)  up to $125.00 for each accessibility feature added to an existing residential building owned by the eligible taxpayer.

(3)  “Eligible taxpayer” means a person who builds or modifies residential construction to contain accessibility features in each dwelling unit.

Sec. 2.  SUBCHAPTER DESIGNATION

Sections 5930v, 5930w, and 5930x of Title 32 are designated “Subchapter 11J of chapter 151.  Job Creation Incentives.”


Sec. 3.  EFFECTIVE DATE

This act shall apply to taxable years 2005 and after.



Published by:

The Vermont General Assembly
115 State Street
Montpelier, Vermont


www.leg.state.vt.us