Disaster Savings and Resilient Construction Act of 2015

HB 3397 Disaster Savings and Resilient Construction Act of 2015

US Congress 114th Congress

Disaster Savings and Resilient Construction Act of 2015
HB-3397


About HB-3397

Disaster Savings and Resilient Construction Act of 2015 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. 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

Terminates such credit for any any property for which a certificate of occupancy is issued after December 31, 2019.

  

Bill Texts

Introduced 08/08/2015

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History

Introduced In House

07/29/2015

Referred To The House Committee On Ways And Means.

07/29/2015