|BILL AS INTRODUCED||2007-2008|
Introduced by Representatives Donahue of Northfield, Frank of Underhill, French of Randolph, Haas of Rochester, Koch of Barre Town, McAllister of Highgate and Pugh of S. Burlington
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. § 5930z is added to read:
§ 5930z. 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) 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 a structure owned by that person to increase accessibility in the residence or dwelling unit.
Sec. 2. EFFECTIVE DATE
This act shall apply to taxable years 2007 and after.
The Vermont General Assembly
115 State Street