Senior Accessible Housing Tax Credit Act of 2026
- Bill Number
- H.R. 9554
- Origin Chamber
- House
- Congress
- 119th Congress, Session 2
- Status
- Introduced
- Latest Action
- 2026-06-30: Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- Last Updated
- 2026-07-06T13:38:29Z
AI-Generated Summary
Purpose This legislation establishes a new federal tax credit to offset costs for home modifications that improve accessibility for older adults and authorizes additional funding for a related grant program administered by the Department of Housing and Urban Development (HUD).
Key Provisions
- Creates a nonrefundable tax credit under new Internal Revenue Code Section 25G equal to qualified accessible housing expenses paid or incurred in a taxable year.
- Defines eligible individuals as U.S. residents who have reached age 60 (with special rules for joint filers).
- Lists specific qualified expenses, including installation of wheelchair ramps, widened doorways, handrails, non-slip flooring, bathtub modifications, chair lifts, and certain plumbing or fixture replacements, plus labor costs.
- Limits the credit to a maximum of $10,000 per taxpayer per year, with phase-out based on modified adjusted gross income starting at $100,000–$200,000 depending on filing status.
- Prohibits double benefits by reducing basis in modified property and disallowing other credits or deductions for the same expenses.
- Provides for inflation adjustments to the dollar limits beginning in 2028.
- Authorizes $100 million annually for fiscal years 2027 through 2031 for the Older Adult Home Modification Grant Program.
Significant Changes to Existing Law
- Adds a new tax credit provision (Section 25G) to Subpart A of the Internal Revenue Code, expanding the list of allowable personal credits.
- Extends existing HUD grant authority by appropriating funds specifically for older-adult home modifications through 2031.
Potential Impacts
- On citizens: Offers financial assistance to homeowners aged 60 and older seeking to make their primary residence or qualified second home more accessible.
- On government agencies: Requires the Internal Revenue Service to administer and verify the new credit; directs HUD to distribute additional grant funding.
- On federal budget: Reduces tax revenue through the credit and increases discretionary spending via the grant program.
Main Stakeholders Affected
- Individuals aged 60 and older who own or use qualifying residences.
- Taxpayers claiming the credit and contractors performing the modifications.
- The Internal Revenue Service and the Department of Housing and Urban Development.
Notable Legal, Constitutional, or Political Implications
- The credit applies only to modifications that enhance safety and independence, with the Secretary of the Treasury given authority to expand the list in consultation with the Secretary of Health and Human Services.
- The measure operates through the tax code and appropriations process without altering constitutional allocations of authority between branches or levels of government.
This summary was generated by AI and may contain inaccuracies. Refer to the official source document for the authoritative text.
Sponsor
Rep. Latimer, George [D-NY-16]
Recent Actions
- 2026-06-30: Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 2026-06-30: Referred to the Committee on Ways and Means, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
- 2026-06-30: Introduced in House
- 2026-06-30: Introduced in House
Bill Versions
- Senior Accessible Housing Tax Credit Act of 2026 — issued 2026-06-30 — PDF (7 pages)