Washington, DC (June 2, 2011) – Hurricane season is now under way and to help ensure that home and business owners are prepared for potential disasters, Rep. Gus Bilirakis (FL-09) has introduced legislation to offer tax incentives for property improvements that would protect from hurricane or tornado damage.
"Disasters can strike at any time, often with little warning," said Bilirakis, Chairman of the Subcommittee on Emergency Preparedness, Response and Communications. "We must work to create a culture of preparedness. Taking mitigation steps now can make a huge difference and in many cases reduce loss of life and property damage, while saving money and reducing insurance rates in the long run."
The bill would provide a tax credit of 25 percent of qualified hurricane and tornado mitigation property expenditures up to $5,000 for any taxable year.
Qualifying expenditures would include improving the strength of a roof deck attachment; creating a secondary water barrier; improving the durability of a roof covering; bracing gable-end walls; reinforcing the connections between a roof and supporting wall; protecting against windborne debris; or protecting exterior doors and garages.
Co-sponsors of H.R. 2067 include Reps. David Rivera (FL-25), Tom Rooney (FL-16), Dennis Ross (FL-12), and Mario Diaz-Balart (FL-21).
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