Referred to the House Committee on Ways and Means.
Summary
The Multigenerational HOMES Act adds a non‑refundable personal credit equal to 15% of qualified renovation costs that make a dwelling safer or more accessible for older or disabled relatives. It applies to primary residences and attached secondary units, with a lifetime credit cap of $7,500 per dwelling and income phase‑outs for higher earners. Low‑income taxpayers may treat the credit as refundable, and unused credit can be carried forward for up to five years.
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