Disaster Savings and Resilient Construction Act of 2018
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Sep 17, 2018)
Disaster Savings and Resilient Construction Act of 2018
This bill amends the Internal Revenue Code to allow a business-related tax credit for a specified portion of the cost of commercial and residential buildings that comply with resilient construction requirements in a federally-declared major disaster area.
The bill defines "resilient construction requirements" as requirements that such buildings are designed and constructed to: (1) resist hazards brought on by a major disaster; (2) continue to provide their primary functions after a major disaster; (3) reduce the magnitude or duration of a disruptive event; and (4) have the absorptive capacity, adaptive capacity, and recoverability to withstand a potentially disruptive event.
The credit does not apply to property for which a certificate of occupancy is issued after December 31, 2022.
What just happenedSep 17, 2018
Referred to the House Committee on Ways and Means.
Who’s behind it
- Introduced in HouseSep 17, 2018
- Sep 17, 2018IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Sep 17, 2018IntroReferralIntro-H
Introduced in House
- Sep 17, 2018IntroReferral1000
Introduced in House