Disabled Access Credit Expansion Act

Bill: 115-hr-5536
Sponsor: full_name: Rep. McEachin, A. Donald [D-VA-4]
Introduced: 2018-04-17
Policy area: Taxation
Subjects: Disability and paralysis

Disability assistance

Income tax credits

Small business
Latest action: action_date: 2018-04-17
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2018-04-17
action_desc: Introduced in House
text: <p><b>Disabled Access Credit Expansion Act </b></p> <p>This bill amends the Internal Revenue Code, with respect to the tax credit for expenditures by an eligible small business to provide access to disabled individuals, to: (1) increase from $10,250 to $20,500 the annual dollar limitation for eligible access expenditures, (2) require the $20,500 limit to be adjusted for inflation after 2018, and (3) increase from $1 million to $2.5 million the gross receipts limitation for an eligible small business. </p>

tv_txt: I 115th CONGRESS 2d Session H. R. 5536 IN THE HOUSE OF REPRESENTATIVES April 17, 2018 Mr. McEachin (for himself, Mr. Crowley , Mr. Langevin , Mrs. Watson Coleman , Mr. Thompson of Mississippi , Mr. Foster , Mr. Al Green of Texas , Mr. Veasey , Mr. Moulton , Ms. Jackson Lee , Mr. Peters , Mr. Keating , Mr. Schrader , Ms. Speier , Mr. Aguilar , Ms. Brownley of California , Mr. Pocan , Ms. Sánchez , Ms. Blunt Rochester , Mrs. Dingell , Mr. Cuellar , Ms. Norton , Mr. Hastings , Mr. Brown of Maryland , Ms. Titus , and Ms. Sinema ) introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to expand the credit for expenditures to provide access to disabled individuals.

1. Short title This Act may be cited as the Disabled Access Credit Expansion Act . 2. Expansion of credit for expenditures to provide access to disabled individuals (a) Increase in dollar limitation (1) In general Section 44(a) of the Internal Revenue Code of 1986 is amended by striking $10,250 and inserting $20,500 . (2) 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. . (b) 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 . (c) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2017.