A North Bay Congressman has introduced a bill to help homeowners who harden their homes against natural disasters. Representatives Mike Thompson and Doug LaMalfa introduced the bipartisan Disaster Mitigation and Tax Parity Act, that will exempt rebates that homeowners receive for hardening their homes against natural disasters from being included on federal taxes. California, North Carolina and Louisiana are among the states that provide rebates to homeowners who take steps to protect their homes from natural disasters. However, homeowners are required to pay federal taxes on those rebates if the funds come from any source that is not the Federal government. In contrast, rebates for energy conservation improvements are already exempt from Federal income taxes. This bill would place natural disaster mitigation efforts in a similar category. A companion bill has been introduced in the US Senate by Senators Diane Feinstein and Thom Tillis.
Congressman Thompson Introduces Bill for Homeowners Prepping for Natural Disasters
