Introduction of Legislation to Amend the Internal Revenue Code of 1986 to Provide a Credit Against Tax for Hurricane and Tornado Mitigation Expenditures.

Floor Speech

Mr. BILIRAKIS. Mr. Speaker, today I introduced the Hurricane and Tornado Mitigation Investment Act of 2013. This legislation seeks to encourage individuals and businesses to take proactive preparedness measures to protect their property from potential storm damage. Recent tornado outbreaks across the country this spring, and the impending start of the Atlantic hurricane season, remind us that weather-related emergencies and disasters are ever-present. The bill would amend the Internal Revenue Code to allow individual and business taxpayers a tax credit for a portion of their qualified hurricane and tornado mitigation property expenditures for any taxable year. They would be eligible when they take steps 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. In short, this legislation will help communities mitigate against future weather related hazards. Taking mitigation steps now can make a huge difference. In many cases, it may help to reduce loss of life and property damage, while saving money and reducing insurance rates in the long run. I look forward to working with my colleagues to move this legislation through Congress.

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