Bill > B26-0478

This bill amends the District of Columbia's tax code to expand and modify the Renter Tax Credit, creating separate provisions for homeowners and renters. The bill allows renters who qualify for a tax credit of at least $1,200 to choose between receiving their credit as 12 equal monthly payments or one lump sum payment, while credits under $1,200 will be paid as a single lump sum. The bill updates the eligibility income threshold for renters to 60 percent of the area median income and changes the rent calculation method to use the greater of either the Efficiency of Small Area Fair Market Rent (SAFMR) for the claimant's ZIP code or the median SAFMR for the District of Columbia. Additionally, the bill broadens the definition of a "renter" to include individuals without a fixed address or those residing in temporary shelters, ensuring more residents can access the tax credit. These changes aim to provide more flexible and accessible financial support for renters in the District of Columbia, with the new provisions taking effect for the tax year beginning January 1, 2026.

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https://lims.dccouncil.gov/Legislation/B26-0478