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HR 6762 110th Congress House Taxation Disaster relief and insurance Income tax credits Life, casualty, property insurance Natural disasters Residential rehabilitation and home repair

Homeowners Insurance and Mitigation Assistance Act of 2008

Introduced: July 31, 2008 Introduced by: Thompson, Bennie G. Democratic · Mississippi See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 31, 2008
Referred to the House Committee on Ways and Means.
Jul 31, 2008
Introduced in House
 Plain-English summary Congressional Research Service

Homeowners Insurance and Mitigation Assistance Act of 2008 - Amends the Internal Revenue Code to allow tax credits for: (1) 50% of the increases in homeowners insurance premiums for taxpayers whose principal residences are located in certain federally declared hurricane disaster areas or in states which border the Atlantic Ocean or the Gulf of Mexico, up to $500 annually; and (2) 25% of the qualified hurricane, earthquake, and tornado mitigation property expenditures of homeowners and businesses, up to $5,000 annually. Includes within the definition of "qualified hurricane, earthquake, and tornado mitigation expenditures" expenditures for property to improve the strength of a roof deck attachment, create a secondary water barrier, improve the durability of a roof covering, reinforce the connection between a roof and a supporting wall, and protect exterior doors and garages.

What's happening now July 31, 2008

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1