Industry organizations are urging support for H.R. 7676, the Home Modification for Accessibility Act of 2022.
Introduced by Rep. Charlie Crist (D-Fla.) last month, the bill “allows distributions from a tax-exempt retirement plan, without penalty, for retirement home improvements to an individual’s primary residence to improve for aging or disabled adults the accessibility, security, or safety of such residence,” according to a summary of the bill on Congress.gov. “The bill limits the amount of such distributions to $30,000 for all taxable years. The bill also excludes the amount of such distributions from the recipient’s gross income, for income tax purposes, and allows a deduction for a taxpayer’s retirement home improvement expenditures.”
The Protect My Mobility (access2crt.org) Web site says H.R. 7676 would “provide tax incentives to homeowners to proactively update their houses for aging in place. This bill amends current Internal Revenue Code to promote the use of modifications to a person’s primary residence that improve the accessibility, security, or safety of the home. Being able to safely stay at home is a right all Americans should have.”
Protect My Mobility adds, “The passage of this bill will support that right and bring much needed assistance and benefits to senior citizens and people with disabilities. It will not only improve a person’s quality of life and independence, it will also help reduce healthcare costs through decreasing home injuries, hospitalizations, and caregiver needs.”
On the access2crt.org Web site, visitors can send an e-mail to their Senators and their Representatives after entering their name and address. The Web site automatically populates the pre-written e-mail with each constituent’s, Senator’s, and Representative’s personal information.