3.0.0 6841 2023-01-11T13:41:31Z 2023-01-11T13:41:31Z House HR 2018-09-17 115 [Congressional Record Volume 164, Number 154 (Monday, September 17, 2018)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. REED:H.R. 6841.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8: The Congress shall have Power to makeall Laws which shall be necessary and proper for carryinginto Execution the foregoing Powers, and all other Powersvested by this Constitution in the Government of the UnitedStates, or in any Department or Officer thereof.Article I, Section 8, Clause I: The Congress shall havePower to lay and collect Taxes, Duties, Imposts and Excises,to pay the Debts and provide for the common Defence andgeneral Welfare of the United States; but all Duties, Impostsand Excises shall be uniform throughout the United States.[Page H8732]]]> hswm00 Ways and Means Committee House Standing Referred to 2018-09-17T17:00:18Z 2018-09-17 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2018-09-17 Introduced in House IntroReferral Intro-H 9 Library of Congress 2018-09-17 Introduced in House IntroReferral 1000 9 Library of Congress R000585 Rep. Reed, Tom [R-NY-23] Tom Reed R NY 23 N Taxation Building construction Housing industry and standards Income tax credits Income tax deductions Industrial facilities Natural disasters Residential rehabilitation and home repair Taxation 00 2018-09-17 Introduced in House 2018-09-24T20:40:44Z Disaster Savings and Resilient Construction Act of 2018

This bill amends the Internal Revenue Code to allow a business-related tax credit for a specified portion of the cost of commercial and residential buildings that comply with resilient construction requirements in a federally-declared major disaster area.

The bill defines "resilient construction requirements" as requirements that such buildings are designed and constructed to: (1) resist hazards brought on by a major disaster; (2) continue to provide their primary functions after a major disaster; (3) reduce the magnitude or duration of a disruptive event; and (4) have the absorptive capacity, adaptive capacity, and recoverability to withstand a potentially disruptive event.

The credit does not apply to property for which a certificate of occupancy is issued after December 31, 2022.

]]> Disaster Savings and Resilient Construction Act of 2018 Display Title Disaster Savings and Resilient Construction Act of 2018 Official Title as Introduced To amend the Internal Revenue Code of 1986 to provide a credit for owning certain disaster resilient property. Introduced in House IH Short Titles as Introduced Disaster Savings and Resilient Construction Act of 2018 Introduced in House 2018-09-17T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr6841ih/xml/BILLS-115hr6841ih.xml 2018-09-17 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.