HI HB1920

Establishes an income tax credit for taxpayers who construct or renovate residential housing to comply with Type C housing visitability standards as defined by ICC/ANSI A117.1 standards.

Credit amount equals a percentage of qualified expenses (percentage amount left blank in bill text) with caps of $3,000 for single-family properties, $300 per unit up to $20,000 for multi-family properties, and $300 per unit up to $20,000 for single-family development projects.

Qualified expenses include costs necessary to meet visitability standards such as zero-step entrances, 32-inch door passages, wheelchair-accessible bathrooms and bedrooms, 36-inch hallways, accessible electrical outlets and switches, and smoke detectors with visible and audible alarms.

Excess credits may be carried forward to subsequent tax years until exhausted, and claims must be filed within twelve months following the close of the taxable year or the credit is forfeited.

Tax credit applies only to taxable years beginning after December 31, 2018, and expires for taxable years beginning after December 31, 2022; limited to one credit per tax map key number.