With hurricane season upon us, U.S. Rep. Gus Bilirakis, R-Fla., brought out the “Strengthening Homes and Eliminating Liabilities Through Encouraging Readiness” (SHELTER) Act on Friday. The proposed legislation would give tax credits to families and businesses who invest in hurricane and tornado readiness.
The bill would give a federal tax credit of up to 25 percent for property expenditures to prepare for hurricanes or tornados up to $5,000 a year. Qualified expenditures under the bill include improvements to roofs, water barriers, walls, garages and exterior doors.
“In Florida, the threat of devastating hurricanes is real,” Bilirakis said as he introduced the bill on Friday. “Across the country, tornados and hurricanes can be catastrophic, and cause expensive damages to homes and businesses. The key is preparedness and prevention; damage can be mitigated by taking the proper steps before a hurricane or tornado strikes.
“We can incentivize Americans to be more prepared for a natural disaster by granting a tax credit to individuals and businesses that purchase materials to improve and protect their homes or properties from water and wind damage,” Bilirakis added.
Bilirakis does have some expertise on the issue. He previously chaired the U.S. House Homeland Security Subcommittee on Emergency Preparedness, Response, and Communications.
So far, two members of the Florida delegation -- Republican U.S. Rep. Mario Diaz-Balart and Democratic U.S. Rep. Corrine Brown --- have signed on as co-sponsors. So has U.S. Rep. Tom Cole, R-Okla. On Friday, the bill was sent to the House Ways and Means Committee.
On Monday, Bilirakis’ staff informed Sunshine State News that there is no sponsor so for over in the U.S. Senate but they were working on rounding one up.
Reach Kevin Derby at kderby@sunshinestatenews.com or follow him on Twitter: @KevinDerbySSN
