Search Results: keywords:"refundability"

  • S. 1315 — To amend the Internal Revenue Code of 1986 to provide a refundable credit for certain home accessibility improvements.
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    Status:Introduced in Senate
    Words:2,745

    The bill S. 1315 aims to amend the Internal Revenue Code of 1986 to provide a refundable tax credit for home accessibility improvements. This credit covers 35% of expenses, up to $10,000 a year and $30,000 total, for improvements that make homes more accessible to people with...

    Simple Explanation

    Bill S. 1315 is like giving families some money back from their taxes when they make changes to their home to help people with disabilities or older folks get around better, but they have to follow certain rules about how much they can spend and who can get it.

  • H. R. 2320 — To amend the Internal Revenue Code of 1986 to establish a refundable credit for expenses incurred for mobility devices.
    Status:Introduced in House
    Words:556

    H.R. 2320, also known as the “Mobility Means Freedom Tax Credit Act,” proposes to amend the Internal Revenue Code of 1986 by establishing a refundable tax credit for individuals who purchase mobility devices. The credit would cover 50% of the expenses related to buying items such as...

    Simple Explanation

    The Mobility Means Freedom Tax Credit Act is a plan to help people pay for things like wheelchairs and scooters by giving them some money back when they buy these helpful devices. It tries to make it less costly for people who need these things to move around.