Earthquake Mitigation Incentive and Tax Parity Act of 2017

Summary

Earthquake Mitigation Incentive and Tax Parity Act of 2017 This bill amends the Internal Revenue Code to exclude from gross income any earthquake loss mitigation received by a residential property owner or occupant under a state-based earthquake loss mitigation program. "Earthquake loss mitigation" is any property or service that reduces seismic risks to a residential structure or its contents. The term includes any payment, reimbursement, loan, loan forgiveness, grant, credit, rebate, voucher, or other financial incentive for the property or service. The bill applies to earthquake loss mitigation programs established by a state (including an agency, instrumentality, or political subdivision of the state) or by a state with a tax-exempt organization or public instrumentality of the state.

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3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 8 November 2017

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 8 November 2017

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• Introduced in Senate

  summary · EN · 8 November 2017

  Open at official source

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