Finance Act 2016

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Amendment of section 477B of Principal Act (home renovation incentive)

8. Section 477B of the Principal Act is amended—

(a) in subsection (1) —

(i) by inserting the following definition:

“‘housing authority’ has the same meaning as it has in the Housing (Miscellaneous Provisions) Act 1992 ;”,

and

(ii) in the definition of “qualifying residence”—

(I) in paragraph (c), by substituting “by the individual,” for “by the individual, or”,

(II) in paragraph (d), by substituting “of the qualifying work, or” for “of the qualifying work;”, and

(III) by inserting the following after paragraph (d):

“(e) which is owned by a housing authority and for which the housing authority is charging rent pursuant to section 58 of the Housing Act 1966 for the tenancy or occupation thereof by the individual and where the housing authority has given its prior written consent to the individual to qualifying work being carried out on the residential premises.”,

(b) in subsection (2) —

(i) in paragraph (a) —

(I) in subparagraph (i) —

(A) by substituting “2018” for “2016”, and

(B) by substituting “in subsection (1) refers,” for “in subsection (1) refers, and”,

(II) in subparagraph (ii) —

(A) by substituting “2018” for “2016”, and

(B) by substituting “in subsection (1) refers, and” for “in subsection (1) refers.”,

and

(III) by inserting the following after subparagraph (ii):

“(iii) during the period from 1 January 2017 to 31 December 2018 in the case of a qualifying residence to which paragraph (e) of the definition of ‘qualifying residence’ in subsection (1) refers.”,

and

(ii) in paragraph (d) —

(I) by substituting “2018” for “2016” in each place where it occurs, and

(II) by substituting “2019” for “2017” in each place where it occurs,

(c) in subsection (6)(b)(vi)(I), by substituting “(a), (b) or (e)” for “(a) or (b)”,

(d) in subsection (8), by inserting the following after paragraph (b):

“(c) Subparagraph (i) of paragraph (a) shall not apply in the case of a residential premises referred to in paragraph (e) of the definition of ‘qualifying residence’ in subsection (1).”,

and

(e) in subsection (12), by substituting “(a), (b) or (e) ” for “(a) or (b)”.