HB 18-1267 Summary

• Creates an income tax credit for individuals with family income at or below $150,000 (adjusted annually for inflation) who retrofit their residence to increase visitability and accessibility for those with disabilities, illness, or impairment.

• Credit amount equals the cost of the retrofit or $5,000, whichever is less, for tax years 2019-2023, with a $1 million annual cap on total credits issued per fiscal year.

• Division of Housing issues credit certificates to qualified individuals; certificates must be included with income tax returns filed with the Department of Revenue.

• Excess credits that exceed current year income tax liability may be carried forward for up to five years; any remaining credit after five years cannot be refunded.

• Section repeals effective December 31, 2028; appropriates $132,328 to the Department of Local Affairs for 2018-19 fiscal year to implement the program.