Resilient Construction Tax Credit Reintroduced in Congress
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Last week, Rep. Bill Pascrell (D-NJ) and Reps. Reed (R-NY), DeFazio (D-OR) and Diaz-Balart introduced the Disaster Savings and Resilient Construction Act of 2021. This legislation, a longtime priority of NRMCA, provides a tax credit for home and business owners who build or rebuild after a federally-declared natural disaster to a resilient standard. The legislation was crafted and driven by NRMCA and is supported by our allied associations, including NSSGA and PCA, as well as groups from the insurance industry, codes and standards organizations, construction materials and environmental advocacy. You can see Rep. Pascrell’s press release here and NRMCA’s press release here.
The bill was highlighted by House Transportation and Infrastructure Committee Chairman Peter DeFazio at his opening statement during a hearing on March 18 by the Subcommittee on Economic Development, Public Works and Emergency Management. At the hearing, one of the witnesses, Roy Wright, president and CEO of the Insurance Institute for Business and Home Safety, highlighted the legislation in his testimony and the BuildStrong Coalition similarly highlighted the legislation in its written testimony.
For more information, contact Andrew Tyrrell at atyrrell@nrmca.org.
