HR 3397 114th Congress House Taxation Building construction Housing industry and standards Income tax credits Income tax deductions Industrial facilities Natural disasters Residential rehabilitation and home repair

Disaster Savings and Resilient Construction Act of 2015

Introduced: July 29, 2015 See on congress.gov

Everywhere this bill has been 2 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Jul 29, 2015

Referred to the House Committee on Ways and Means.

Jul 29, 2015

Introduced in House

Plain-English summary Congressional Research Service

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.

What's happening now July 29, 2015

Referred to the House Committee on Ways and Means.

Committees of jurisdiction 1