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2014 SESSION

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SB 62 Residences; grants for purchasing or expending money on existing property to improve accessibility.

Introduced by: Linda T. Puller | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED SENATE:

Residential Improved Accessibility and Universal Visitability Grant Program. Establishes a grant program for homeowners and contractors for the purchase or construction of new residences or renovations to existing residences designed to improve accessibility or to provide universal visitability. The grant program would be administered by the Director of the Department of Housing and Community Development. Subject to funds being appropriated by the General Assembly, the Director would be authorized to award up to $1 million in grants each fiscal year beginning with fiscal year 2016. The maximum grant allowed would be (i) $5,000 for the purchase or construction of a new residence or (ii) 50 percent of the amount expended, but not to exceed $5,000, for the retrofitting or renovation of an existing residence. The Director each fiscal year would allocate $500,000 in grants for the purchase or construction of new residences and $500,000 in grants for the retrofitting or renovation of existing residences.

SUMMARY AS INTRODUCED:

Livable Home Tax Credit. Increases the total amount of tax credits granted for the Livable Home Tax Credit program in any fiscal year from $1 million to $2 million and increases the total amount of tax credits made available through the program allocated for purchase or construction of new residences from $500,000 to $1 million and the total amount allocated for retrofitting or renovation of existing residences from $500,000 to $1 million. The bill is a recommendation of the Virginia Disability Commission.