135.562. Principal dwellings, tax credit for renovations for disability access.
Principal dwellings, tax credit for renovations for disability access.
135.562. 1. If any taxpayer with a federal adjusted gross income ofthirty thousand dollars or less incurs costs for the purpose of making allor any portion of such taxpayer's principal dwelling accessible to anindividual with a disability who permanently resides with the taxpayer,such taxpayer shall receive a tax credit against such taxpayer's Missouriincome tax liability in an amount equal to the lesser of one hundredpercent of such costs or two thousand five hundred dollars per taxpayer,per tax year.
2. Any taxpayer with a federal adjusted gross income greater thanthirty thousand dollars but less than sixty thousand dollars who incurscosts for the purpose of making all or any portion of such taxpayer'sprincipal dwelling accessible to an individual with a disability whopermanently resides with the taxpayer shall receive a tax credit againstsuch taxpayer's Missouri income tax liability in an amount equal to thelesser of fifty percent of such costs or two thousand five hundred dollarsper taxpayer per tax year. No taxpayer shall be eligible to receive taxcredits under this section in any tax year immediately following a tax yearin which such taxpayer received tax credits under the provisions of thissection.
3. Tax credits issued pursuant to this section may be refundable inan amount not to exceed two thousand five hundred dollars per tax year.
4. Eligible costs for which the credit may be claimed include:
(1) Constructing entrance or exit ramps;
(2) Widening exterior or interior doorways;
(3) Widening hallways;
(4) Installing handrails or grab bars;
(5) Moving electrical outlets and switches;
(6) Installing stairway lifts;
(7) Installing or modifying fire alarms, smoke detectors, and otheralerting systems;
(8) Modifying hardware of doors; or
(9) Modifying bathrooms.
5. The tax credits allowed, including the maximum amount that may beclaimed, pursuant to this section shall be reduced by an amount sufficientto offset any amount of such costs a taxpayer has already deducted fromsuch taxpayer's federal adjusted gross income or to the extent suchtaxpayer has applied any other state or federal income tax credit to suchcosts.
6. A taxpayer shall claim a credit allowed by this section in thesame taxable year as the credit is issued, and at the time such taxpayerfiles his or her Missouri income tax return; provided that such return istimely filed.
7. The department may, in consultation with the department of socialservices, promulgate such rules or regulations as are necessary toadminister the provisions of this section. Any rule or portion of a rule,as that term is defined in section 536.010, RSMo, that is created under theauthority delegated in this section shall become effective only if itcomplies with and is subject to all of the provisions of chapter 536, RSMo,and, if applicable, section 536.028, RSMo. This section and chapter 536,RSMo, are nonseverable and if any of the powers vested with the generalassembly pursuant to chapter 536, RSMo, to review, to delay the effectivedate or to disapprove and annul a rule are subsequently heldunconstitutional, then the grant of rulemaking authority and any ruleproposed or adopted after August 28, 2007, shall be invalid and void.
8. The provisions of this section shall apply to all tax yearsbeginning on or after January 1, 2008.
9. The provisions of this section shall expire December 31, 2013.
10. In no event shall the aggregate amount of all tax credits allowedpursuant to this section exceed one hundred thousand dollars in any givenfiscal year. The tax credits issued pursuant to this section shall be on afirst-come, first-served filing basis.
(L. 2007 H.B. 741)Expires 12-31-13