H.R. 913House110th Congress (2007-2009)In Committee

Hurricane and Tornado Mitigation Investment Act of 2007

Introduced February 8, 2007

Legislative Activity

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4 earlier actions
HouseIntro Referral Latest Action

Sponsor introductory remarks on measure. (CR H6167-6169)

June 7, 2007

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HouseIntro Referral

Introduced in House

February 8, 2007

HouseIntro Referral

Referred to the House Committee on Ways and Means.

February 8, 2007

HouseIntro Referral

Sponsor introductory remarks on measure. (CR H1980)

February 28, 2007

HouseIntro Referral

Sponsor introductory remarks on measure. (CR H3684)

April 19, 2007

HouseIntro Referral

Sponsor introductory remarks on measure. (CR H6167-6169)

June 7, 2007

Floor Debate

11 members

What members said about H.R. 913 on the floor

8 Republicans3 Democrats
Kevin McCarthy
Rep. Kevin McCarthyR-CA-22 · Apr 19, 2007

Mr. Speaker, tonight we are going to open something new. If you are like in my house, every 3 months if you have kids in school, in my house it is Connor and Megan, they just got their report card,…

Tim Walberg
Rep. Tim WalbergR-MI-7 · Apr 19, 2007

Thank you, Congressman McCarthy. I certainly appreciate the opportunity to bring not only an update on Michigan, but to talk to the American public about concerns that I have about the budget and…

Adrian Smith
Rep. Adrian SmithR-NE-3 · Apr 19, 2007

Mr. Speaker, I am honored to be a part of this discussion here this evening, and certainly I consider it a great privilege to serve on the Budget Committee. As witness after witness after witness…

Jim Jordan
Rep. Jim JordanR-OH-4 · Apr 19, 2007

Well, I thank the gentleman for yielding some time and for his work in putting this together and his passion and intensity and energy that he brings to the Congress and what he has done in our…

Dean Heller
Rep. Dean HellerR-NV-2 · Apr 19, 2007

I want to thank you for the time and the opportunity to serve with you here in this Congress. I certainly appreciate our freshman class, the work they are putting in it, the voices they have and the…

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Mario Diaz-Balart
Rep. Mario Diaz-BalartR-FL-25 · May 21, 2007

Mr. Speaker, I yield myself such time as I may consume. Mr. Speaker, I want to thank the gentleman from Louisiana for his help. Before I discuss this important issue, I want to thank Chairman Gordon…

Gus M. Bilirakis
Rep. Gus M. BilirakisR-FL-9 · Apr 19, 2007

Like all of us, I came to this body seeking to make a difference for my constituents and all Americans alike. We have chosen a life in public service and promised to fight for what we believe in.…

Bill Sali
Rep. Bill SaliR-ID-1 · Apr 19, 2007

Mr. Speaker, I thank Congressman McCarthy. I appreciate the opportunity to give this report on this first quarter. I think it is very apt for us to let the folks back home know exactly what is going…

Gus M. Bilirakis
Rep. Gus M. BilirakisR-FL-9 · Jun 7, 2007

Mr. Speaker, before I begin, I'd like to wish a happy birthday to my son, Michael, who was born on June 7, 1993. He's 14 years old today. What a wonderful boy he is. I'm so proud of him; great…

Gus M. Bilirakis
Rep. Gus M. BilirakisR-FL-9 · May 21, 2007

Mr. Speaker, I thank the gentleman from Louisiana (Mr. Melancon) and the gentleman from Florida (Mr. Mario Diaz-Balart) for sponsoring this resolution, which I strongly support. It is a very…

Sheila Jackson Lee
Rep. Sheila Jackson LeeD-TX-18 · May 21, 2007

Mr. Speaker, I rise today in strong support of H. Res. 402, which puts this House on record in strong support of the goals and ideals of National Hurricane Preparedness Week. As we near the 2-year…

Madeleine Z. Bordallo
Rep. Madeleine Z. BordalloD-GU · May 21, 2007

Mr. Speaker, I rise in support of H. Res. 402, a resolution to support the goals and ideals of National Hurricane Preparedness Week. I thank my colleague from Florida (Mr. Diaz-Balart) for his…

Charlie Melancon
Rep. Charlie MelanconD-LA-3 · May 21, 2007

Mr. Speaker, I move to suspend the rules and agree to the resolution (H. Res. 402) supporting the goals and ideals of National Hurricane Preparedness Week. Mr. Speaker, I ask unanimous consent that…

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Gus M. Bilirakis
Rep. Gus M. BilirakisR-FL-9 · Feb 28, 2007

Mr. Speaker, my State of Florida is going through a crisis, a crisis that began with the devastating hurricanes that ripped through my State in recent years, a crisis made worse by the overwhelming…

Bill Text

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Introduced in HouseIssued February 8, 2007

I

110th CONGRESS

1st Session

H. R. 913

IN THE HOUSE OF REPRESENTATIVES

February 8, 2007

Mr. Bilirakis (for himself, Ms. Ginny Brown-Waite of Florida, Mr. Lincoln Diaz-Balart of Florida, and Mr. Mario Diaz-Balart of Florida) introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to provide a credit against tax for hurricane and tornado mitigation expenditures.

1.

Short title

This Act may be cited as the Hurricane and Tornado Mitigation Investment Act of 2007.

2.

Nonrefundable personal credit for hurricane and tornado mitigation property

(a)

In general

Subpart A of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 25D the following new section:

25E.

Hurricane and tornado mitigation property

(a)

Allowance of credit

In the case of an individual, there shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to 25 percent of the qualified hurricane and tornado mitigation property expenditures made by the taxpayer during such taxable year.

(b)

Maximum credit

The credit allowed under subsection (a) for any taxable year shall not exceed $5,000.

(c)

Qualified hurricane and tornado mitigation expenditure

For purposes of this section—

(1)

In general

The term qualified hurricane and tornado mitigation property expenditure means an expenditure for property—

(A)

to improve the strength of a roof deck attachment,

(B)

to create a secondary water barrier to prevent water intrusion,

(C)

to improve the durability of a roof covering,

(D)

to brace gable-end walls,

(E)

to reinforce the connection between a roof and supporting wall,

(F)

to protect openings from penetration by windborne debris, or

(G)

to protect exterior doors and garages,

in a qualified dwelling unit located in a qualified State and owned by the taxpayer.
(2)

Qualified dwelling unit

The term qualified dwelling unit means a dwelling unit that is assessed at a value that is less than $1,000,000 by the locality in which such dwelling unit is located and with respect to the taxable year for which the credit described in subsection (a) is allowed.

(3)

Qualified State

The term qualified State means Alabama, Arkansas, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Minnesota, Mississippi, Missouri, Nebraska, New Hampshire, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, or Virginia.

(d)

Limitation

An expenditure shall be taken into account in determining the qualified hurricane and tornado mitigation property expenditures made by the taxpayer during the taxable year only if the onsite preparation, assembly, or original installation of the property with respect to which such expenditure is made has been completed in a manner that is deemed to be adequate by a State-certified inspector.

(e)

Labor costs

For purposes of this section, expenditures for labor costs properly allocable to the onsite preparation, assembly, or original installation of the property described in subsection (c) shall be taken into account in determining the qualified hurricane and tornado mitigation property expenditures made by the taxpayer during the taxable year.

(f)

Inspection costs

For purposes of this section, expenditures for inspection costs properly allocable to the inspection of the preparation, assembly, or installation of the property described in subsection (c) shall be taken into account in determining the qualified hurricane and tornado mitigation property expenditures made by the taxpayer during the taxable year.

.

(b)

Conforming amendment

The table of sections for subpart A of part IV of subchapter A of chapter 1 of such Code is amended by inserting after the item relating to section 25D the following new item:

Sec. 25E. Hurricane and tornado mitigation property.

.

(c)

Effective date

The amendments made by this section shall apply to taxable years beginning after December 31, 2007.

3.

Business related credit for hurricane and tornado mitigation

(a)

In general

Subpart D of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 45N the following new section:

45O.

Hurricane and tornado mitigation credit

(a)

General rule

For purposes of section 38, the hurricane and tornado mitigation credit determined under this section for any taxable year is an amount equal to 25 percent of the qualified hurricane and tornado mitigation property expenditures made by the taxpayer during the taxable year.

(b)

Maximum credit

The amount of the credit determined under subsection (a) for any taxable year shall not exceed $5,000.

(c)

Qualified hurricane and tornado mitigation expenditure

For purposes of this section—

(1)

In general

The term qualified hurricane and tornado mitigation property expenditure means an expenditure for property—

(A)

to improve the strength of a roof deck attachment,

(B)

to create a secondary water barrier to prevent water intrusion,

(C)

to improve the durability of a roof covering,

(D)

to brace gable-end walls,

(E)

to reinforce the connection between a roof and supporting wall,

(F)

to protect openings from penetration by windborne debris, or

(G)

to protect exterior doors and garages,

in a qualified place of business located in a qualified State and owned by the taxpayer.
(2)

Qualified place of business

The term qualified place of business means a place of business that is assessed at a value that is less than $5,000,000 by the locality in which such business is located and with respect to the taxable year for which the credit described in subsection (a) is allowed.

(3)

Qualified State

The term qualified State means Alabama, Arkansas, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Minnesota, Mississippi, Missouri, Nebraska, New Hampshire, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, or Virginia.

(d)

Limitation

An expenditure shall be taken into account in determining the qualified hurricane and tornado mitigation property expenditures made by the taxpayer during the taxable year only if the onsite preparation, assembly, or original installation of the property with respect to which such expenditure is made has been completed in a manner that is deemed to be adequate by a State-certified inspector.

(e)

Labor costs

For purposes of this section, expenditures for labor costs properly allocable to the onsite preparation, assembly, or original installation of the property described in subsection (c) shall be taken into account in determining the qualified hurricane and tornado mitigation property expenditures made by the taxpayer during the taxable year.

(f)

Inspection costs

For purposes of this section, expenditures for inspection costs properly allocable to the inspection of the preparation, assembly, or installation of the property described in subsection (c) shall be taken into account in determining the qualified hurricane and tornado mitigation property expenditures made by the taxpayer during the taxable year.

.

(b)

Conforming amendments

(1)

Section 38(b) of such Code is amended by striking plus at the end of paragraph (30), by striking the period at the end of paragraph (31) and inserting , and, and by adding at the end the following new paragraph:

(32)

the hurricane and tornado mitigation credit determined under section 45O(a).

.

(2)

The table of sections for subpart D of part IV of subchapter A of chapter 1 of such Code is amended by inserting after the item relating to section 45N the following new item:

Sec. 45O. Hurricane and tornado mitigation credit.

.

(c)

Effective date

The amendments made by this section shall apply to taxable years beginning after December 31, 2007.