• Creates a tax credit equal to 15% of qualified multigenerational home renovation expenditures, capped at a $7,500 lifetime limit per qualified dwelling unit
• The credit phases out for taxpayers with modified adjusted gross income above $200,000 (or $400,000 for joint filers), but becomes fully refundable for taxpayers whose adjusted gross income does not exceed the area median gross income
• Eligible expenditures must relate to improving safety, mobility, or accessibility for a qualified relative (age 65+ or disabled) living in the home, or providing living quarters for a caregiver

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