Establishes a tax credit for multigenerational home renovation expenditures.

The bill amends the Internal Revenue Code to create a tax credit for multigenerational home renovation expenditures. The credit is equal to 15% of qualified expenditures made by the taxpayer during the taxable year. It includes renovations that improve safety, mobility, or accessibility for qualified relatives or provide living quarters for individuals who care for the taxpayer. The credit is subject to income phaseout and has a lifetime limitation per qualified dwelling unit.

Establishes a tax credit for multigenerational home renovation expenditures.

The bill amends the Internal Revenue Code to create a tax credit for multigenerational home renovation expenditures. The credit is equal to 15% of qualified expenditures made by the taxpayer during the taxable year. It includes renovations that improve safety, mobility, or accessibility for qualified relatives or provide living quarters for individuals who care for the taxpayer. The credit is subject to income phaseout and has a lifetime limitation per qualified dwelling unit.