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General Assembly Substitute Bill No. 1071
January Session, 2019
AN ACT CONCERNING AG ING IN PLACE INCENTIVES.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:
Section 1. (NEW) (Effective October 1, 2019) (a) As used in this 1
section: 2
(1) "Qualified individual" means an individual with a household 3
income of not more than one hundred fifty thousand dollars for the 4
taxable year commencing on or after January 1, 2020; 5
(2) "Retrofit" means to make changes to a residence that (A) are 6
necessary to ensure the health, welfare and safety of a qualified 7
individual, (B) increase the visitability of such residence, (C) enable 8
greater accessibility and independence for such qualified individual in 9
such residence, (D) are required due to an illness, impairment or 10
disability of such qualified individual, and (E) allow such qualified 11
individual to age in place; and 12
(3) "Visitability" means a residence's ease of access for persons with 13
disabilities. 14
(b) (1) Except as provided in subdivision (3) of this subsection, for 15
taxable years commencing on or after January 1, 2020, but prior to 16
January 1, 2025, there shall be a credit allowed against the tax imposed 17
under chapter 229 of the general statutes for any qualified individual 18
who retrofits, or employs a person or business to retrofit, such 19 Substitute Bill No. 1071
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qualified individual's residence and who owns such residence. The 20
credit shall be in an amount equal to the costs of retrofitting such 21
residence or five thousand dollars, whichever is less. Such qualified 22
individual shall claim the credit in the taxable year in which such 23
retrofitting occurred by including the certificate issued pursuant to 24
subdivision (2) of this subsection with such qualified individual's 25
income tax return filed with the Commissioner of Revenue Services. 26
(2) The Secretary of the Office of Policy and Management shall issue 27
a certificate to any qualified individual who retrofits a residence in 28
accordance with subdivision (1) of this subsection, upon the request of 29
such qualified individual. Such certificate shall identify the taxpayer 30
and certify that such qualified individual satisfies the requirements of 31
said subdivision. The secretary shall issue such certificates in the order 32
in which they are requested. 33
(3) The Secretary of the Office of Policy and Management shall track 34
each certificate issued pursuant to subdivision (2) of this subsection in 35
each taxable year and, upon the total amount of such certificates issued 36
equaling one million dollars in such taxable year, shall not issue any 37
further such certificate in such taxable year. 38
(c) The amount of the credit allowed to any qualified individual 39
pursuant to this section shall not exceed the amount of tax due from 40
such qualified individual under chapter 229 of the general statutes 41
with respect to the taxable year in which such credit is being claimed. 42
Any such credit claimed by such qualified individual but not applied 43
against the tax due under said chapter may be carried forward for the 44
five immediately succeeding taxable years until the full credit has been 45
applied. 46
(d) Not later than January 1, 2021, and annually thereafter until 47
January 1, 2024, the Secretary of the Office of Policy and Management 48
shall submit to the Commissioner of Revenue Services a report of each 49
taxpayer to whom the secretary has issued a certificate pursuant to 50
subdivision (2) of subsection (b) of this section for the prior taxable 51 Substitute Bill No. 1071
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year, which report shall include (1) the name of each such taxpayer, (2) 52
the Social Security number or federal employer identification number, 53
and (3) the amount of the tax credit allocated. 54
This act shall take effect as follows and shall amend the following
sections:
Section 1 October 1, 2019 New section
Statement of Legislative Commissioners:
In Subsec. (d), "subsection (c) of this act" was changed to "subsection
(b) of this section" for accuracy and "employee" was changed to
"employer" for accuracy.
PD Joint Favorable Subst. -LCO