Rep. Mike Thompson introduces tax exemption bill for seismic retrofit
Rep. Mike Thompson, D-St. Helena, introduced a bill Wednesday that would exempt measures for residential seismic retrofits from federal tax.
The cost of earthquake mitigation efforts are already tax-free at the state level in California. The state also has an Earthquake Brace + Bolt program that provides homeowners up to $3,000 toward a retrofit through a lottery system. But that reward is taxed by the federal government.
“The South-Napa earthquake damaged more than 1,500 homes in 2014, making it clear we need to do more to help residents prepare for disasters,” said Thompson in a statement. He is a member of the House Ways and Means Committee, which oversees tax laws.
Business, Beer and Wine, The Press Democrat
In the North Coast, we are surrounded by hundreds of wineries along with some of the best breweries, cidermakers and distillers. These industries produce an abundance of drinks as well as good stories – and those are what I’m interested in writing. I also keep my eye on our growing cannabis industry and other agricultural crops, which have provided the backbone for our food-and-wine culture for generations.