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Idea#1080

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Looking Back, Looking Forward—FEMA Think Tank 2.0 »

Federal Tax Credits for Mitigation Efforts

Back in 1992, Energy Star (a government-backed program sponsored by EPA and the Dept of Energy helping businesses and individuals protect the environment through superior energy efficiency) was born for products and practices that promote energy efficiency. This public –private partnership (to date over 20,000 public and private sector organizations!) built a globally recognized consumer branding system and absolutely transformed the market for energy-efficient products.

So I am thinking………why don’t we start another government initiated campaign.......... this time for mitigation measures taken for homes and businesses.

We could easily role this into the implementation phase of PPD-8.

For example, homes and businesses that elevate/floodproof to 1 foot above the BFE could see a tax savings on their federal returns. 2 Feet above BFE would be a higher tax savings, 3 feet above BFE an even higher tax savings.

Other items that could potentially see a tax savings:

Engineer flood vents

Engineered foundations

Hurricane shutters

Hurricane straps and rafter clips

Impact resistant shingles for hail protection

Hurricane resistant doors and windows

Earthquake foundation brackets

Tornado/Hurricane Shelters and Safe Rooms

if they are done / installed pursuant to specified criteria (probably best established by FEMA).

The list (above) could go on and on, but you see where I am going with this.......

We could even pilot the program in Presidentially declared states.

Hoping to write a white paper and would appreciate your feedback.....

Submitted by tturner 1 year ago

Comments (1)

  1. Sounds good to me. Just as long as they hold flood insurance in conjunction.

    1 year ago

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