Section 1 Short title
This Act may be cited as the “Disabled Access Credit Expansion Act”.
Disabled Access Credit Expansion Act
A BILL
To amend the Internal Revenue Code of 1986 to expand the credit for expenditures to provide access to disabled individuals.
Sec. 2 Expansion of credit for expenditures to provide access to disabled individuals
Increase in dollar limitation—
In general— Section 44(a) of the Internal Revenue Code of 1986 is amended by striking “$10,250” and inserting “$20,500”.
Inflation adjustment— Section 44 of such Code is amended by redesignating subsection (e) as subsection (f) and by inserting after subsection (d) the following new subsection:
“(e) Inflation adjustment
“(1) In general—In the case of any taxable year beginning after 2018, the $20,500 amount in subsection (a) shall be increased by an amount equal to—
“(A) such dollar amount, multiplied by
“(B) the cost of living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins determined by substituting “calendar year 2017” for “calendar year 2016” in subparagraph (A)(ii) thereof.
“(2) Rounding—Any amount determined under paragraph (1) which is not a multiple of $50 shall be rounded to the next lowest multiple of $50.”
Increase in gross receipts limitation— Section 44(b)(1)(A) of such Code is amended by striking “$1,000,000” and inserting “$2,500,000”.
Effective date— The amendments made by this section shall apply to taxable years beginning after December 31, 2017.