Sec. 2. Expansion of credit for expenditures to provide access to disabled individuals
224 words·~1 min read·
/bill/117/s/2481/is/section-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Subsection
(a)of section 44 of the Internal Revenue Code of 1986 is amended by striking $10,250 and inserting $20,500 . Section 44 of such Code is amended by redesignating subsection
(e)as subsection
(f)and by inserting after subsection
(d)the following new subsection: In the case of any taxable year beginning after 2022, the $20,500 amount in subsection
(a)shall be increased by an amount equal to— such dollar amount, multiplied by 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 2021 for calendar year 2016 in subparagraph (A)(ii) thereof. Any amount determined under paragraph
(1)which is not a multiple of $50 shall be rounded to the next lowest multiple of $50. . Subsection
(a)of section 44 of the Internal Revenue Code of 1986, as amended by subsection (a)(1), is further amended by striking exceed $250 but . Subparagraph
(A)of section 44(b)(1) of the Internal Revenue Code of 1986 is amended by striking $1,000,000 and inserting $2,500,000 . Subparagraph
(A)of section 44(c)(2) of the Internal Revenue Code of 1986 is amended by inserting (including any digital, Internet, or telecommunications services provided by the business) after business . The amendments made by this section shall apply to taxable years beginning after December 31, 2021.