Creates a disabled person retrofit tax credit

BILL NUMBER:S5058A

Title of bill

An act to amend the tax law, in relation to creating a disabled person retrofit tax credit

Purpose

To provide an incentive for owners of residential buildings to retrofit homes for access to the disabled.

Summary of provisions

Section One of the bill amends Section 606 of the tax law to allow a taxpayer a tax credit to be equal to thirty percent, with a maximum of $5,000 dollars, of the cost of expenditures for retrofitting a home for disabled access. Qualified improvements include:

* A no-step entrance or entrance allowing access to the residence;

* Interior passage doors providing at least thirty-two in wide opening;

* Reinforcements in bathroom walls allowing installation of grab bars around the toilet, tub and shower; and

* Light switches and outlets placed in locations accessible to disabled persons

Existing law

New legislation

Justification

Many homeowners discover that retrotfitting homes to allow better access for the disabled cost prohibitive and be deterred from making the improvements. This legislation would provide a tax credit that is equal to thirty percent of the cost expenditures, up to $5,000 for making qualified improvements.

Legislative history

To be determined.

Fiscal implications

To be determined.

Effective date

This act shall take effect immediately and shall be deemed to have been in full force and effect on January 1, 2011; provided further, this act shall apply to all tax years commencing on or after January 1, 2011