Rep. McNamara introduces Rhode Island Livable Home Tax Credit Act
STATE HOUSE — Rep. Joseph M. McNamara (D-Dist. 19, Warwick, Cranston) has introduced legislation for a tax credit for homes that are made accessible to the elderly and disabled.
Dubbed the Rhode Island Livable Home Tax Credit Act, the bill (2018-H 7142) would provide a tax credit against the state’s personal income tax for taxpayers who purchase new residences or retrofit residences which meet or are modified to meet standards that make the residences more accessible for elderly and disabled persons.
“As Rhode Island’s population ages, it’s important for us to do what we can to ease the burden of those who have shouldered the burden all their lives,” said Representative McNamara. “From building our country to fighting our wars, senior citizens have made the investment in time, money and untiring devotion to their families, their employers and their country. The least we can do is to make things a little easier at tax time and by helping to accommodate their needs in their later years.”
The act is aimed at helping Rhode Island’s aging population stay safely in their homes longer rather than overburdening the state’s nursing homes, which costs taxpayers millions of dollars each year in Medicaid costs. With the state’s aging population rising each year, there is a distinct need for housing that is safe and adapted to the needs of the elderly.
The tax credit would apply for family members and caregivers who spend thousands of dollars out of pocket to care for and adapt existing homes for elderly family members. Adaptations to homes that would qualify pertain to fixes that would help reduce elderly falls within the home and other changes that would keep the elderly and disabled in their communities for longer periods of time.
The bill, which is cosponsored by Representatives Lauren H. Carson (D-Dist. 75, Newport), Deborah Ruggiero (D-Dist. 74, Jamestown, Middletown), Mia Ackerman (D-Dist. 45, Cumberland, Lincoln) and Samuel A. Azzinaro (D-Dist. 37, Westerly), has been referred to the House Finance Committee.
For more information, contact:
Daniel Trafford, Publicist
State House Room 20
Providence, RI 02903