Connecticut 2019 Regular Session

Connecticut Senate Bill SB01071 Compare Versions

Version 1 (Old)

Version 2 (New)

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3		-	LCO \\PRDFS1\SCOUSERS\FORZANOF\WS\2019SB-01071-R01-
4		-	SB.docx
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	3	+	LCO No. 5936 1 of 3
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7		-	General Assembly ~~Substitute~~ Bill No. 1071
	5	+	General Assembly Raised Bill No. 1071
8	6		January Session, 2019
	7	+	LCO No. 5936
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	9	+
	10	+	Referred to Committee on PLANNING AND DEVELOPMENT
	11	+
	12	+
	13	+	Introduced by:
	14	+	(PD)
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12	19		AN ACT CONCERNING AG ING IN PLACE INCENTIVES.
13	20		Be it enacted by the Senate and House of Representatives in General
14	21		Assembly convened:
15	22
16	23		Section 1. (NEW) (Effective October 1, 2019) (a) As used in this 1
17	24		section: 2
18	25		(1) "Qualified individual" means an individual with a household 3
19	26		income of not more than one hundred fifty thousand dollars for the 4
20	27		taxable year commencing on or after January 1, 2020; 5
21	28		(2) "Retrofit" means to make changes to a residence that (A) are 6
22	29		necessary to ensure the health, welfare and safety of a qualified 7
23	30		individual, (B) increase the visitability of such residence, (C) enable 8
24	31		greater accessibility and independence for such qualified individual in 9
25	32		such residence, (D) are required due to an illness, impairment or 10
26	33		disability of such qualified individual, and (E) allow such qualified 11
27	34		individual to age in place; and 12
28	35		(3) "Visitability" means a residence's ease of access for persons with 13
29		-	disabilities. 14
	36	+	disabilities. 14 Raised Bill No. 1071
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30	42		(b) (1) Except as provided in subdivision (3) of this subsection, for 15
31	43		taxable years commencing on or after January 1, 2020, but prior to 16
32	44		January 1, 2025, there shall be a credit allowed against the tax imposed 17
33	45		under chapter 229 of the general statutes for any qualified individual 18
34		-	who retrofits, or employs a person or business to retrofit, such 19 Substitute Bill No. 1071
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	46	+	who retrofits, or employs a person or business to retrofit, such 19
41	47		qualified individual's residence and who owns such residence. The 20
42	48		credit shall be in an amount equal to the costs of retrofitting such 21
43	49		residence or five thousand dollars, whichever is less. Such qualified 22
44	50		individual shall claim the credit in the taxable year in which such 23
45	51		retrofitting occurred by including the certificate issued pursuant to 24
46	52		subdivision (2) of this subsection with such qualified individual's 25
47	53		income tax return filed with the Commissioner of Revenue Services. 26
48	54		(2) The Secretary of the Office of Policy and Management shall issue 27
49		-	a certificate to any qualified ~~individual~~ who retrofits a residence in 28
	55	+	a certificate to any qualified individuals who retrofits a residence in 28
50	56		accordance with subdivision (1) of this subsection, upon the request of 29
51	57		such qualified individual. Such certificate shall identify the taxpayer 30
52	58		and certify that such qualified individual satisfies the requirements of 31
53	59		said subdivision. The secretary shall issue such certificates in the order 32
54	60		in which they are requested. 33
55	61		(3) The Secretary of the Office of Policy and Management shall track 34
56	62		each certificate issued pursuant to subdivision (2) of this subsection in 35
57	63		each taxable year and, upon the total amount of such certificates issued 36
58	64		equaling one million dollars in such taxable year, shall not issue any 37
59	65		further such certificate in such taxable year. 38
60	66		(c) The amount of the credit allowed to any qualified individual 39
61	67		pursuant to this section shall not exceed the amount of tax due from 40
62	68		such qualified individual under chapter 229 of the general statutes 41
63	69		with respect to the taxable year in which such credit is being claimed. 42
64	70		Any such credit claimed by such qualified individual but not applied 43
65	71		against the tax due under said chapter may be carried forward for the 44
66	72		five immediately succeeding taxable years until the full credit has been 45
67		-	applied. 46
	73	+	applied. 46 Raised Bill No. 1071
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68	79		(d) Not later than January 1, 2021, and annually thereafter until 47
69	80		January 1, 2024, the Secretary of the Office of Policy and Management 48
70	81		shall submit to the Commissioner of Revenue Services a report of each 49
71	82		taxpayer to whom the secretary has issued a certificate pursuant to 50
72		-	subdivision (2) of subsection (b) of this section for the prior taxable 51 Substitute Bill No. 1071
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79		-	year, which report shall include (1) the name of each such taxpayer, (2) 52
80		-	the Social Security number or federal employer identification number, 53
81		-	and (3) the amount of the tax credit allocated. 54
	83	+	subdivision (2) of subsection (c) of this act for the prior taxable year, 51
	84	+	which report shall include (1) the name of each such taxpayer, (2) the 52
	85	+	Social Security number or federal employee identification number, and 53
	86	+	(3) the amount of the tax credit allocated. 54
82	87		This act shall take effect as follows and shall amend the following
83	88		sections:
84	89
85	90		Section 1 October 1, 2019 New section
86	91
87		-	Statement of Legislative Commissioners:
88		-	In Subsec. (d), "subsection (c) of this act" was changed to "subsection
89		-	(b) of this section" for accuracy and "employee" was changed to
90		-	"employer" for accuracy.
91		-
92		-	PD Joint Favorable Subst. -LCO
	92	+	Statement of Purpose:
	93	+	To provide a state income tax credit to taxpayers who incur costs
	94	+	retrofitting a residence for purposes of allowing an individual to age in
	95	+	place.
	96	+	[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline,
	97	+	except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is
	98	+	not underlined.]
93	99