Bill Text: IA HF527 | 2019-2020 | 88th General Assembly | Introduced
Bill Title: A bill for an act creating a home retrofitting tax credit available against the individual income tax, and including applicability provisions.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2020-01-22 - Subcommittee reassigned: Hagenow, Hein and Jacoby. H.J. 122. [HF527 Detail]
Download: Iowa-2019-HF527-Introduced.html
House
File
527
-
Introduced
HOUSE
FILE
527
BY
BEST
A
BILL
FOR
An
Act
creating
a
home
retrofitting
tax
credit
available
1
against
the
individual
income
tax,
and
including
2
applicability
provisions.
3
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
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527
Section
1.
NEW
SECTION
.
422.12N
Home
retrofitting
tax
1
credit.
2
1.
For
purposes
of
this
section,
unless
the
context
3
otherwise
requires:
4
a.
“Home
retrofitting”
means
any
of
the
following
projects
5
performed
on
a
qualified
residence
by
a
qualified
person
for
6
the
purpose
of
increasing
the
accessibility
of
the
qualified
7
residence:
8
(1)
Constructing
an
entrance
or
exit
ramp.
9
(2)
Widening
doorways
at
entrances
or
exits.
10
(3)
Installing
railings,
support
bars,
handrails,
or
grab
11
bars
or
other
such
modifications
to
a
bathroom.
12
(4)
Installing
handrails
or
grab
bars
in
areas
other
than
13
the
bathroom.
14
(5)
Adapting
a
home
to
include
a
bedroom
and
full
bathroom
15
on
the
main
floor
of
the
residence.
16
(6)
Lowering
or
modifying
kitchen
cabinets
and
equipment.
17
(7)
Moving
or
modifying
electrical
outlets
and
fixtures.
18
(8)
Installing
porch
lifts
and
other
forms
of
lifts.
19
(9)
Modifying
fire
alarms,
smoke
detectors,
and
other
20
warning
systems.
21
(10)
Modifying
stairways.
22
(11)
Modifying
hardware
on
doors.
23
(12)
Modifying
areas
in
front
of
entrance
and
exit
doorways.
24
(13)
Grading
the
ground
to
provide
access
to
the
residence.
25
(14)
Installing
nonslip
flooring.
26
(15)
Creating
level
flooring.
27
(16)
Installing
bright
lighting
at
entrances
or
exits
or
28
throughout
the
house.
29
(17)
Installing
assistive
technologies
and
devices.
30
(18)
Relocating
laundry
facilities.
31
b.
“Qualified
person”
means
a
certified
aging-in-place
32
specialist
or
a
universal
design
certified
professional.
33
c.
“Qualified
residence”
means
the
same
as
defined
in
34
section
163(h)(4)(A)
of
the
Internal
Revenue
Code
which
is
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527
owned
by
at
least
one
person
fifty
years
of
age
or
older.
1
2.
The
taxes
imposed
under
this
division
less
the
credits
2
allowed
under
section
422.12
shall
be
reduced
by
a
home
3
retrofitting
tax
credit,
not
to
exceed
five
thousand
dollars,
4
of
the
actual
costs
of
the
home
retrofitting
project
on
a
5
qualified
residence.
6
3.
a.
To
claim
a
tax
credit
under
subsection
2,
a
taxpayer
7
must
include
one
or
more
tax
credit
certificates
with
the
8
taxpayer’s
tax
return.
A
tax
credit
certificate
shall
not
be
9
included
with
a
return
filed
for
a
taxable
year
beginning
prior
10
to
the
tax
year
listed
on
the
certificate.
11
b.
The
tax
credit
certificate
shall
contain
the
taxpayer’s
12
name,
address,
tax
identification
number,
the
amount
of
the
13
credit,
and
any
other
information
required
by
the
department.
14
c.
The
tax
credit
certificate,
unless
rescinded
by
the
15
department,
shall
be
accepted
by
the
department
as
payment
for
16
taxes
imposed
pursuant
to
this
division.
17
d.
Any
tax
credit
in
excess
of
the
taxpayer’s
liability
18
for
the
tax
year
is
not
refundable
but
may
be
credited
to
the
19
tax
liability
for
the
following
five
years
or
until
depleted,
20
whichever
is
earlier.
21
e.
The
tax
credit
shall
not
be
carried
back
to
a
tax
year
22
prior
to
the
tax
year
in
which
the
taxpayer
first
receives
the
23
tax
credit.
24
f.
A
taxpayer
shall
not
be
eligible
for
credits
exceeding
25
thirty
thousand
dollars,
in
the
aggregate,
during
the
lifetime
26
of
the
taxpayer.
27
4.
a.
The
department
shall
develop
a
system
for
the
28
application,
review,
and
authorization
of
tax
credits
awarded
29
pursuant
to
this
section
and
shall
control
the
issuance
of
all
30
tax
credit
certificates.
31
b.
The
department
shall
review
and
preliminarily
approve
32
applications
that
appear
to
meet
the
requirements
of
this
33
section,
and
notify
the
applicant
of
the
department’s
decision
34
and
the
estimated
value
of
the
tax
credit
if
the
project
is
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527
preliminarily
approved.
The
notice
shall
state
that
receipt
1
of
the
tax
credit
is
contingent
on
the
home
retrofitting
2
project
complying
with
this
section,
and
shall
describe
the
3
requirements
of
this
section
including
eligible
projects
and
4
that
the
work
must
be
performed
by
a
qualified
person.
5
5.
Married
taxpayers
electing
to
file
separate
returns
or
6
filing
separately
on
a
combined
return
may
avail
themselves
7
of
the
home
retrofitting
tax
credit
by
allocating
the
home
8
retrofitting
tax
credit
to
each
spouse
in
the
proportion
that
9
each
spouse’s
respective
earned
income
bears
to
the
total
10
combined
earned
income.
11
6.
The
department
shall
adopt
rules
pursuant
to
chapter
17A
12
to
administer
this
chapter.
13
Sec.
2.
APPLICABILITY.
This
Act
applies
to
tax
years
14
beginning
on
or
after
January
1,
2020.
15
EXPLANATION
16
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
17
the
explanation’s
substance
by
the
members
of
the
general
assembly.
18
This
bill
creates
a
home
retrofitting
tax
credit
against
the
19
individual
income
tax.
20
The
bill
lists
numerous
“home
retrofitting”
projects
that
21
qualify
for
the
credit
which
relate
to
providing
accessibility
22
to
a
qualifying
residential
home.
The
bill
defines
“qualifying
23
residence”
to
mean
the
same
as
defined
in
section
163
of
the
24
Internal
Revenue
Code
which
is
owned
by
a
person
50
years
of
25
age
or
older.
The
bill
defines
“qualified
person”
to
mean
26
a
certified
aging-in-place
specialist
or
a
universal
design
27
certified
professional.
28
The
amount
of
the
credit
shall
not
exceed
$5,000
of
the
29
actual
costs
of
the
home
retrofitting
project
on
a
qualified
30
residence.
31
The
bill
limits
the
credit
to
$30,000,
in
the
aggregate,
32
during
the
lifetime
of
the
taxpayer.
33
A
credit
provided
in
the
bill
in
excess
of
tax
liability
is
34
not
refundable
but
the
excess
for
the
tax
year
may
be
credited
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527
to
the
tax
liability
for
the
following
five
years
or
until
1
depleted,
whichever
occurs
first.
2
The
department
of
revenue
is
required
to
develop
a
system
3
for
the
application,
review,
and
authorization
of
tax
credits
4
awarded
pursuant
to
the
bill
and
shall
control
the
issuance
of
5
all
tax
credit
certificates.
6
The
bill
applies
to
tax
years
beginning
on
or
after
January
7
1,
2020.
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