,i #aai? ,,congress #b;d ,session ,h4 ,r4 #ieed ,,9 ,,! ,,h\se ,,( ,,repres5tatives ,june #cj1 #bjbf,mr4 ,latim] introduc$ ! foll[+ bill2 :i* 0 ref]r$ to ! ,committee on ,ways & ,means1 & 9 addition to ! ,committee on ,f9ancial ,s]vices1 = a p]iod to be subsequ5tly det]m9$ by ! ,speak]1 9 ea* case = consid]ation ( su* provisions z fall )9 ! jurisdiction ( ! committee conc]n$ ,a ,,bill ,to am5d ! ,int]nal ,rev5ue ,code ( #aihf to all[ a cr$it aga9/ tax = qualifi$ accessible h\s+ exp5ses1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,s5ior ,accessible ,h\s+ ,tax ,cr$it ,act ( #bjbf4 #b4 ,s5ior accessible h\s+ tax cr$it 7a7 ,9 g5]al ,subp>t ,a ( "p ,,iv ( sub*apt] ,a ( *apt] #a ( ! ,int]nal ,rev5ue ,code ( #aihf is am5d$ by ins]t+ aft] section #be;,f ! foll[+ new section3 #be;,g4 ,s5ior accessible h\s+ cr$it 7a7 ,9 g5]al ,9 ! case ( an eligible individual1 !re %all be all[$ z a cr$it aga9/ ! tax impos$ by ?is *apt] = ! taxable ye> an am\nt equal to ! aggregate am\nt ( qualifi$ accessible h\s+ exp5ses paid or incurr$ by ! taxpay] dur+ su* taxable ye>4 7b7 ,eligible individual 7#a7 ,9 g5]al ,= purposes ( ?is section1 ! t]m eligible individual means any individual :o-- 7,a7 has atta9$ age #fj be=e ! close ( ! taxable ye>1 & 7,b7 is n a nonresid5t ali54 7#b7 ,special rule = jo9t returns ,9 ! case ( a m>ri$ c\ple fil+ a jo9t return = ! taxable ye>1 cr$it "u ?is section %all be all[$-- 7,a7 if at lea/ #a sp\se has atta9$ age #fj be=e ! close ( ! taxable ye>1 & 7,b7 only if nei!r sp\se is a nonresid5t ali54 7c7 ,qualifi$ accessible h\s+ exp5ses 7#a7 ,9 g5]al ,= purposes ( ?is section1 ! t]m qualifi$ accessible h\s+ exp5ses means1 ) respect to a taxpay]1 any exp5ses :i* are relat$ to mak+ any ( ! foll[+ modifications to a qualifi$ resid5ce ( su* taxpay]3 7,a7 ,in/all+ :eel*air ramps4 7,b7 ,wid5+ doorways4 7,c7 ,in/all+ h&rails or grab b>s4 7,d7 ,in/all+ non-slip floor+4 7,e7 ,in/all+ ba?tub cuts or %[] seats4 7,f7 ,in/all+ furniture ris]s4 7,g7 ,in/all+ *air lifts4 7,h7 ,replac+ toilets4 7,i7 ,replac+ ba?room vanities4 7,j7 ,replac+ kit*5 or ba?room faucets4 7,k7 ,any o!r modification :i* ! ,secret>y1 9 consultation ) ! ,secret>y ( ,heal? & ,human ,s]vices1 det]m9es w\ld improve an eligible individual's ability to live safely & indep5d5tly4 ,su* t]m includes any exp5ses = labor co/s prop]ly allocable to ! onsite prep>ation1 assembly1 or orig9al in/allation ( prop]ty describ$ 9 ?is p>agraph1 includ+ any prop]ty all[$ pursuant to subp>agraph 7,k74 7#b7 ,qualifi$ resid5ce 7,a7 ,9 g5]al ,= purposes ( p>agraph 7#a71 ! t]m qualifi$ resid5ce means any dwell+ unit locat$ 9 ! ,unit$ ,/ates & own$ or us$ by ! taxpay] z ! pr9cipal resid5ce 7)9 ! mean+ ( section #aba71 or qualifi$ second home1 ( su* taxpay]4 7,b7 ,qualifi$ second home ,= purposes ( ?is p>agraph1 ! t]m qualifi$ second home means a resid5ce )9 ! mean+ ( section #afc7;h77#e77;,a77i77,,ii74 7d7 ,limitations 7#a7 ,doll> limitation ,! cr$it all[$ "u subsection 7a7 to any taxpay] = any taxable ye> %all n exce$ #aj1jjj4 7#b7 ,limitation bas$ on modifi$ adju/$ gross income 7,a7 ,9 g5]al ,! am\nt ( ! cr$it all[$ "u subsection 7a7 = any taxable ye> %all be r$uc$ 7b n bel[ z]o7 by #a = ea* #b 7or fraction !re(7 by :i* ! taxpay]'s modifi$ adju/$ gross income exce$s ! ?re%old am\nt4 ,= purposes ( ! prec$+ s5t5ce1 ! t]m modifi$ adju/$ gross income means adju/$ gross income increas$ by any am\nt exclud$ f gross income "u section #iaa1 #ica1 or #icc4 7,b7 ,?re%old am\nt ,= purposes ( subp>agraph 7,a71 ! t]m ?re%old am\nt means-- 7i7 #bjj1jjj 9 ! case ( a jo9t return or a surviv+ sp\se 7z def9$ 9 section #b7;a771 7ii7 #aej1jjj 9 ! case ( a head ( h\sehold 7z def9$ 9 section #b7;b771 & 7iii7 #ajj1jjj 9 ! case ( a taxpay] n describ$ 9 clause 7i7 or 7ii74 7e7 ,d5ial ( d\ble b5efit ,9 ! case ( any qualifi$ accessible h\s+ exp5ses ) respect to :i* cr$it is all[$ "u subsection 7a7-- 7#a7 no o!r cr$it or d$uction %all be all[$ =1 or by reason (1 any su* exp5se to ! ext5t ( ! am\nt ( su* cr$it1 & 7#b7 ! basis ( any prop]ty %all be r$uc$ by ! am\nt ( su* cr$it to ! ext5t t su* exp5ses 7 tak5 into acc\nt 9 det]m9+ su* basis4 7f7 ,inflation adju/m5t ,9 ! case ( any taxable ye> beg9n+ aft] #bjbg1 ea* doll> am\nt 9 subsection 7d7 %all be increas$ by an am\nt equal to-- 7#a7 su* doll> am\nt1 multipli$ by 7#b7 ! co/-(-liv+ adju/m5t det]m9$ "u section #a7;f77#c7 = ! cal5d> ye> 9 :i* ! taxable ye> beg9s1 det]m9$ by sub/itut+ cal5d> ye> #bjbf = cal5d> ye> #bjaf 9 subp>agraph 7,a77ii7 !re(4 ,if any increase "u ! prec$+ s5t5ce is n a multiple ( #a1 su* am\nt %all be r\nd$ to ! ne>e/ multiple ( #a4 7g7 ,regulations ,! ,secret>y %all issue su* regulations or o!r guidance z may be necess>y to c>ry out ! purposes ( ?is section4 4 7b7 ,cl]ical am5dm5t ,! table ( sections = subp>t ,a ( "p ,,iv ( sub*apt] ,a ( *apt] #a ( su* ,code is am5d$ by ins]t+ aft] ! item relat+ to section #be;,f ! foll[+ new item3 ,sec4 #be;,g4 ,s5ior accessible h\s+ cr$it4 4 7c7 ,effective date ,! am5dm5ts made by ?is section %all apply to taxable ye>s beg9n+ aft] ,decemb] #ca1 #bjbf4 #c4 ,old] ,adult ,home ,modification ,grant ,program au?orization ( appropriations ,!re is au?oriz$ to be appropriat$ to ! ,secret>y ( ,h\s+ & ,urban ,developm5t #ajj1jjj1jjj = ea* ( ! fiscal ye>s #bjbg ?r\gh #bjca = ! grant program e/abli%$ "u ! ?ird proviso ( p>agraph 7#b7 "u ! head+ ,lead ,haz>d ,r$uction "u ! head+ ,(fice ( ,lead ,haz>d ,control & ,heal?y ,homes 9 title ,,ii ( division ,d ( ! ,consolidat$ ,appropriations ,act1 #bjbf 7,public ,law #aai-ge7 7commonly kn[n z ! ,old] ,adult ,home ,modification ,grant ,program74