To direct the Secretary of Housing and Urban Development to establish a universal design standards certification system and to establish a refundable tax credit for individuals and groups that construct or renovate buildings and residences, and for other purposes.
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Committee
Latest Action · May 23, 2024
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.
The Universal Design Standard Tax Incentive Act would create a federal certification system for buildings and homes that meet universal design standards, which are features making buildings usable by people of all abilities and ages. The Department of Housing and Urban Development would establish these standards within one year, working with a committee of federal agencies, disability advocates, aging organizations, businesses, and people with disabilities to ensure the standards are comprehensive and regularly updated. The bill would offer tax credits to builders and property owners who construct new buildings or renovate existing ones to meet these standards, providing a 20 percent credit for new construction and a 50 percent credit for renovations. The tax credits would be refundable for individuals and treated as business credits for corporations, allowing taxpayers to recover the costs of making their properties universally accessible. The legislation requires progress reports to Congress at five and ten years after enactment to measure whether the incentives successfully increase the nation's supply of accessible housing for people with disabilities and seniors.
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