SB 1071 — AN ACT CONCERNING AGING IN PLACE INCENTIVES.

General Assembly RaisedSubstitute Bill No.

1071 January Session, 2019 LCOAN No.ACT CONCERNING AGING IN PLACE INCENTIVES.

5936 Referred to Committee on PLANNING AND DEVELOPMENT Introduced by:

(PD) AN ACT CONCERNING AGING IN PLACE INCENTIVES.

(b) (1) Except as provided in subdivision (3) of this subsection, for taxable years commencing on or after January 1, 2020, but prior to January 1, 2025, there shall be a credit allowed against the tax imposed under chapter 229 of the general statutes for any qualified individual who retrofits, or employs a person or business to retrofit, such LCO \\PRDFS1\SCOUSERS\FORZANOF\WS\2019SB-01071-R01 of 3 SB.docx Substitute Bill No.

59361071 1qualified ofindividual's 3residence Raisedand Billwho No.owns such residence.

1071 (b) (1) Except as provided in subdivision (3) of this subsection, for taxable years commencing on or after January 1, 2020, but prior to January 1, 2025, there shall be a credit allowed against the tax imposed under chapter 229 of the general statutes for any qualified individual who retrofits, or employs a person or business to retrofit, such qualified individual's residence and who owns such residence.

(2) The Secretary of the Office of Policy and Management shall issue a certificate to any qualified individualsindividual who retrofits a residence in accordance with subdivision (1) of this subsection, upon the request of such qualified individual.

(d) Not later than January 1, 2021, and annually thereafter until January 1, 2024, the Secretary of the Office of Policy and Management shall submit to the Commissioner of Revenue Services a report of each taxpayer to whom the secretary has issued a certificate pursuant to subdivision (2) of subsection (b) of this section for the prior taxable LCO {\\PRDFS1\SCOUSERS\FORZANOF\WS\2019SB-01071- 2 of 3 R01-SB.docx } Substitute Bill No.

59361071 2year, which report shall include (1) the name of 3each Raisedsuch Billtaxpayer, No.(2) the Social Security number or federal employer identification number, and (3) the amount of the tax credit allocated.

1071 (d) Not later than January 1, 2021, and annually thereafter until January 1, 2024, the Secretary of the Office of Policy and Management shall submit to the Commissioner of Revenue Services a report of each taxpayer to whom the secretary has issued a certificate pursuant to subdivision (2) of subsection (c) of this act for the prior taxable year, which report shall include (1) the name of each such taxpayer, (2) the Social Security number or federal employee identification number, and (3) the amount of the tax credit allocated.

Section 1 October 1, 2019 New section Statement of Purpose:Legislative Commissioners:

ToIn provideSubsec. a state income tax credit to taxpayers who incur costs retrofitting a residence for purposes of allowing an individual to age in place.

[Proposed(d), deletions"subsection are(c) enclosedof inthis brackets.act" was changed to "subsection (b) of this section" for accuracy and "employee" was changed to "employer" for accuracy.

ProposedPD additionsJoint areFavorable indicatedSubst. by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.] LCO No.

5936-LCO LCO {\\PRDFS1\SCOUSERS\FORZANOF\WS\2019SB-01071- 3 of 3 R01-SB.docx }