Increase in financing limit for qualified home improvement loans

(a) Increase in financing limit Paragraph (4) of section 143(k) is amended by striking $15,000 and inserting $75,000. (b) Inflation adjustment Paragraph (4) of section 143(k), as amended by subsection (a), is amended— (1) by redesignating subparagraphs (A) and (B) as clauses (i) and (ii), respectively, and by moving such clauses (as so redesignated) 2 ems to the right, (2) by striking The term and inserting the following: (A) In general The term, and (3) by adding at the end the following: (B) Inflation adjustment (i) In general In the case of any calendar year beginning after 2026, the $75,000 amount in subparagraph (A) shall be increased by an amount equal to— (I) such dollar amount, multiplied by (II) the cost-of-living adjustment determined under section 1(f)(3) for such calendar year, determined by substituting 2024 for 2016 in subparagraph (A)(ii) thereof. (ii) Rounding If any increase under clause (i) is not a multiple of $100, such increase shall be rounded to the nearest multiple of $100.. (c) Effective dates The amendments made by this section shall apply to loans made after the last day of the calendar year which includes the date of the enactment of this Act.