MS HB1699

Creates the Livable Homes Tax Credit Act allowing taxpayers an income tax credit of up to $8,000 for purchasing a new, never-occupied residence designed for accessibility and universal visitability.

Allows taxpayers a credit of up to $8,000 for retrofitting an existing residence to improve accessibility and provide universal visitability.

Credits are limited to the lesser of $8,000 or the value added by the accessibility design, and cannot exceed the taxpayer's tax liability for that year.

Unused credits may be carried forward for five consecutive years following the year the credit was earned.

Caps total credits claimed statewide at $550,000 annually; amounts exceeding the cap are reduced pro rata but may be claimed in the next taxable year.