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Residential Seismic Retrofitting Tax Credit

[Subject Prev][Subject Next][Thread Prev][Thread Next] I received the following and thought others may find this of interest.

Subject:    New A.B. 1756 - Residential Seismic Retrofitting Tax Credits

A. B. 1756A was introduced by Assembly Members Scott and Corbett Thursday,
March 2, 2000.  This bill would provide funding to retrofit buildings
throughout the state to withstand seismic damage.  It would provide up to
$5000 in state tax credits for single family dwelling seismic retrofits and
$2500 per unit in credits for multi-family dwellings.  To read the text, go
to:

http://www.leginfo.ca.gov/cgi-bin/postquery?bill_number=ab_1756&sess=CUR&hou

The ammended version suggests a $3,000 max. credit for SFR based on an amount of 55% of actual cost. This would appears to be available for each tax year beginning in 2001 and ending in 2007.

Endorsement of these kinds of issues may appear to be self-serving to our profession at face value but the list of "seismic retrofit" items includes many "no-brainers". Interestingly, the bill emphasizes the need to protect against social and economic disruption in the worlds seventh largest economy (California). I didn't know that....

Barry H. Welliver