Tax Credits for Universal Design: Making Homes and Businesses Accessible.
This law establishes a new certification system for residential and commercial properties that meet universal design standards, ensuring accessibility for people of all ages and abilities. Individuals and groups who construct or renovate buildings to these standards can claim a refundable tax credit, aiming to significantly increase the nation's accessible housing stock. Certified properties will receive a special label, making it easier for consumers to identify accessible units on the market.
Key points
New refundable tax credit: 20% of costs for new construction and 50% for renovations that achieve universal design certification.
The Department of Housing (HUD) will create a certification system and a label to help buyers and tenants easily identify fully accessible properties.
Design standards require units to be useful, safe, and intuitive for people with diverse abilities, including minimizing hazards.
The tax credit is available to individuals without requiring any medical documentation.
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