HB 1087 -- Income Tax Credit for Disability Home Modifications

Sponsor:  Portwood

Beginning January 1, 2008, this bill authorizes an income tax
credit for 100% of the eligible costs of modification, up to
$2,500, for a taxpayer earning $30,000 per year or less who
modifies their home to be accessible to a disabled person who
resides with them.  For taxpayers with annual incomes greater
than $30,000 but less than $60,000, a credit will be allowed for
50% of the eligible costs of modification, up to $2,500.  If any
portion of the modification was claimed as a deduction on the
taxpayer's federal income tax, the tax credit will be reduced by
one-third.  The tax credits will be refundable but not
transferrable.  The credit is capped at $100,000 per year unless
$10 million in tax credits are approved for programs authorized
under the Rebuilding Communities Tax Credit Program, then the cap
will be $200,000.

The provisions of the bill expire December 31, 2013.

Missouri House of Representatives
94th General Assembly, 1st Regular Session
Last Updated July 25, 2007 at 11:21 am