S 1058
Earthquake Mitigation and Tax Parity Act
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- Passed Senate
- Passed House
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- Became Law
Bill overview
This bill, the Earthquake Mitigation and Tax Parity Act, aims to provide tax relief to homeowners and occupants affected by earthquakes. It proposes to exclude earthquake loss mitigation expenses – such as repairs, grants, or loans – from a taxpayer’s gross income. This exclusion applies to programs established by states, state agencies, or other entities working with tax-exempt organizations or public instrumentalities to reduce seismic risks to residential properties.
Sponsors
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Primary sponsor
Kamala D. Harris
Cosponsor
Dianne Feinstein
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