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HCS/HBs 320, 39, & 662 - Beginning January 1, 2009, this act authorizes a one-time income tax credit to a taxpayer for fifty percent of the cost of the construction or one thousand five hundred dollars, whichever is less, of a storm shelter built in America and installed on or after January 1, 2003. The credit is not refundable or transferable. The total amount of credits, which will be issued on a first-come, first-served filing basis, cannot exceed two million dollars in any fiscal year. The provisions of the substitute will expire December 31st six years from the effective date.JASON ZAMKUS
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