,,ii  #aacth ,,congress  #b;d ,session  
,s4 #bhce  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,september #ag 
7legislative day1 ,september #af71 #bjad
 ,mr4 ,pryor introduced the following   
bill2 which was read twice and referred 
to the ,committee on ,finance  ,a ,,bill
  ,to amend the ,internal ,revenue ,code
 of #aihf to provide a refundable tax   
credit for certain storm shelters4  #a4 
,short title ,this ,act may be cited as 
the ,storm ,shelter ,affordability ,act 
of #bjad4  #b4 ,credit for certain storm
 shelters  7a7 ,in general ,subpart ,c  
of part ,,iv of subchapter ,a of chapter
 #a of the ,internal ,revenue ,code of  
#aihf is amended by inserting after     
section #cf;,b the following new        
section3  #cf;,c4 ,credit for certain   
storm shelters  7a7 ,in general ,in the 
case of an individual1 there shall be   
allowed as a credit against the tax     
imposed by this subtitle for any taxable
 year an amount equal to the storm      
shelter credit amount4  7b7 ,storm      

shelter credit amount ,for purposes of  
this section1 the storm shelter credit  
amount is an amount equal to the lesser 
of-- 7#a7 #ej percent of the qualified  
storm shelter costs paid or incurred by 
the individual1 or  7#b7 #a1jjj4  7c7   
,qualified storm shelter costs ,for     
purposes of this section-- 7#a7 ,in     
general ,the term qualified storm       
shelter costs means costs for the       
construction of a qualified storm       
shelter that is placed in service during
 the taxable year in1 or on property    
adjacent to1 a dwelling unit owned by   
the individual4  7#b7 ,qualified storm  
shelter ,the term qualified storm       
shelter means a shelter with respect to 
which-- 7,a7 the taxpayer receives a    
,state income tax deduction or rebate   
under a ,state program to encourage the 
construction of storm shelters1 and     
7,b7 the taxpayer attaches to the return
 of tax proof of approval of the        
completed shelter by the relevant ,state
 agency4  7#c7 ,limitation ,no amount   

shall be treated as qualified storm     
shelter costs for any taxable year with 
respect to an individual to whom a      
credit under this section has been      
allowed in any other taxable year4  7d7 
,termination ,subsection 7a7 shall not  
apply to qualified storm shelters placed
 in service in taxable years beginning  
after ,december #ca1 #bjag4  4  7b7     
,conforming amendment ,paragraph 7#b7 of
 section #acbd7;b7 of title #ca1 ,united
 ,states ,code1 is amended by inserting 
1 #cf;,c after #cf;,b4  7c7 ,clerical   
amendment ,the table of sections for    
subpart ,c of part ,,iv of subchapter ,a
 of chapter #a of the ,internal ,revenue
 ,code of #aihf is amended by inserting 
after the item relating to section      
#cf;,b the following new item3  ,sec4   
#cf;,c4 ,credit for certain storm       
shelters4  4  7d7 ,effective date ,the  
amendments made by this section shall   
apply to property placed in service     
after ,december #ca1 #bjad4