H.R. 308 would amend the Internal Revenue Code of 1986 to provide a credit against tax for hurricane and tornado mitigation expenditures.
Detailed Summary
Hurricane and Tornado Mitigation Investment Act of 2009 - Amends the Internal Revenue Code to allow individual and business taxpayers in certain states a tax credit for 25% of their qualified hurricane and tornado mitigation property expenditures up to $5,000 for any taxable year. Defines such expenditures as expenditures in a dwelling unit to improve the strength of a roof deck attachment, create a secondary water barrier, improve the durability of a roof covering, brace gable-end walls, reinforce the connections between a roof and supporting wall, protect against windborne debris, or protect exterior doors and garages.
Status of the Legislation
Latest Major Action: 1/8/2009: Referred to House committee. Status: Referred to the House Committee on Ways and Means.
Points in Favor
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Points Against
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