Detailed Summary

Costal [<i>sic</i>] Homeowners Assistance Act - Amends the Internal Revenue Code to allow tax credits for: (1) 25% of the qualified hurricane mitigation property expenditures incurred by a homeowner in a federally declared hurricane disaster area or in a county located in a state which borders the Atlantic Ocean or the Gulf of Mexico, up to $5,000; and (2) 50% of the increases in homeowner insurance premiums in such disaster areas, up to $5,000. Includes within the definition of &quot;qualified hurricane mitigation property expenditures&quot; expenditures to improve the strength of a roof deck attachment, create a secondary water barrier, improve the durability of a roof covering, or protect exterior doors and garages.

Status of the Legislation

Latest Major Action: 8/1/2008: Referred to Senate committee. Status: Read twice and referred to the Committee on Finance.

Points in Favor

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Points Against

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