HB10709: Multigenerational HOMES Act Multigenerational Housing Opportunities to Modify Existing Structures Act
- 1Introduced (current step)
- 2Passed One Chamber
- 3Passed Both Chambers
- 4Became Law
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Bill information
Summary
To amend the Internal Revenue Code of 1986 to establish a tax credit for multigenerational home renovation expenditures.
Plain-language summary
This bill would create a new tax credit under the Internal Revenue Code to help people pay for renovations that make homes suitable for multigenerational living. A tax credit reduces the taxes a person owes the federal government. The bill allows homeowners to claim this credit when they spend money upgrading their homes to accommodate multiple generations living together. The bill was recently introduced in Congress and is in the early stages of the legislative process.
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HB10709: Multigenerational HOMES Act Multigenerational Housing Opportunities to Modify E…