,i  #aaf? ,,congress  #b;d ,session  ,h4
 ,r4 #gigi  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,augu/ #g1 #bjbj,mr4  
,pascrell 7= himself1 ,mr4 ,re$1 ,mr4   
,de,fazio1 & ,mr4 ,diaz-,bal>t7         
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,ways & ,means  ,a     
,,bill  ,to am5d ! ,int]nal ,rev5ue     
,code ( #aihf to provide a cr$it = own+ 
c]ta9 disa/] resili5t prop]ty4  #a4     
,%ort title ,?is ,act may be cit$ z !   
,disa/] ,sav+s & ,resili5t ,con/ruction 
,act ( #bjbj4  #b4 ,disa/] resili5t     
prop]ty tax cr$it  7a7 ,9 g5]al ,subp>t 
,b ( "p ,,iv ( sub*apt] ,a ( *apt] #a ( 
! ,int]nal ,rev5ue ,code ( #aihf is     
am5d$ by ins]t+ aft] section #cj;,d !   
foll[+ new section3  #cj;,e4 ,disa/]    
resili5t prop]ty  7a7 ,g5]al rule ,!re  
%all be all[$ z a cr$it aga9/ ! tax     
impos$ by ?is *apt] = ! taxable ye> an  
am\nt equal to ! applicable am\nt = ea* 
qualifi$ build+ plac$ 9 s]vice dur+ !   
taxable ye>4  7b7 ,applicable am\nt ,=  
purposes ( subsection 7a7-- 7#a7        

,comm]cial prop]ty ln ! case ( a        
qualifi$ comm]cial prop]ty1 ! applicable
 am\nt is ! less] (-- 7,a7 #a p]c5t ( ! 
co/ ( ! build+1 or  7,b7 #be1jjj p]     
build+4  7#b7 ,resid5tial prop]ty ln !  
case ( a qualifi$ resid5tial prop]ty1 ! 
applicable am\nt is ! less] (-- 7,a7 #a 
p]c5t ( ! co/ ( ! prop]ty1 or  7,b7     
#c1jjj p] prop]ty4  7c7 ,qualifi$       
,build+ ,= purposes ( subsection 7a7--  
7#a7 ,9 g5]al ,! t]m qualifi$ build+    
means a build+-- 7,a7 own$ by ! taxpay] 
9 a disa/] area det]m9$ z a result ( a  
f$]ally decl>$ major disa/]1  7,b7 !    
con/ruction ( :i* began aft] ! date (   
su* disa/] 9 t area1  7,c7 :i*-- 7i7 is 
qualifi$ comm]cial prop]ty plac$ 9      
s]vice = comm]cial purposes1 or  7ii7 is
 qualifi$ resid5tial prop]ty plac$ 9    
s]vice = resid5tial purposes1 &  7,d7 = 
:i* a c]tificate ( occupancy is issu$   
be=e ! end ( ! #c-ye> p]iod beg9n+ on ! 
date ( su* disa/] decl>ation 9 t area4  
7#b7 ,qualifi$ comm]cial prop]ty ,! t]m 
qualifi$ comm]cial prop]ty means a      

build+ t is-- 7,a7 locat$ 9 ! ,unit$    
,/ates1  7,b7 def9$ 9 ! scope ( ! mo/   
rec5t ,int]national ,build+ ,code       
publi%$ by ! ,int]national ,code        
,c\ncil1 &  7,c7 design$ & con/ruct$ to 
meet resili5t con/ruction requirem5ts4  
7#c7 ,qualifi$ resid5tial prop]ty ,! t]m
 qualifi$ resid5tial prop]ty means a    
build+ t is-- 7,a7 locat$ 9 ! ,unit$    
,/ates1  7,b7 def9$ 9 ! scope ( ! mo/   
rec5t ,int]national ,resid5tial ,code   
publi%$ by ! ,int]national ,code        
,c\ncil1 &  7,c7 design$ & con/ruct$ to 
meet resili5t con/ruction requirem5ts4  
7d7 ,resili5t ,con/ruction ,requirem5ts 
,= purposes ( ?is section-- 7#a7 ,9     
g5]al ,! resili5t con/ruction           
requirem5ts ) respect to a prop]ty are t
 ! prop]ty is design$ & con/ruct$ to--  
7,a7 resi/ haz>ds br\ght on by a major  
disa/] & cont9ues to provide its prim>y 
functions aft] a major disa/]1  7,b7    
r$uce ! magnitude or duration ( a       
disruptive ev5t1 &  7,c7 h ! absorptive 
capacity1 adaptive capacity1 &          

recov]ability to )/& a pot5tially       
disruptive ev5t4  7#b7 ,treat$ z meet+  
resili5cy requirem5ts ,= purposes (     
p>agraph 7#a7-- 7,a7 9 ! case ( a       
qualifi$ comm]cial prop]ty1 ! prop]ty   
%all be treat$ z meet+ ! requirem5ts    
specifi$ 9 p>agraph 7#a7 if ! prop]ty is
 a build+ :i*-- 7i7 0 design$ to meet ! 
requirem5ts ( ! mo/ rec5t ,int]national 
,build+ ,code publi%$ by ! ,int]national
 ,code ,c\ncil & meets ! ,,=tifi$       
,comm]cial ,w9d ,/&>d publi%$ by !      
,insurance ,in/itute = ,bus9ess & ,home 
,safety1 or ! mo/ rec5t ,int]national   
,wildl& ,urban ,int]face ,code publi%$  
by ! ,int]national ,code ,c\ncil1  7ii7 
9 ! case ( a sub/antial r5ovation1 su*  
r5ovation meets ! requirem5ts (-- 7,i7 !
 mo/ rec5t ,int]national ,build+ ,code  
publi%$ by ! ,int]national ,code ,c\ncil
 & ! ,,=tifi$ ,comm]cial ,w9d ,/&>d     
publi%$ by ! ,insurance ,in/itute =     
,bus9ess & ,home ,safety1 or  7,,ii7 !  
mo/ rec5t ,int]national ,wildl& ,urban  
,int]face ,code publi%$ by !            

,int]national ,code ,c\ncil1 or  7iii7 9
 ! case ( a qualifi$ comm]cial prop]ty 9
 a high seismic haz>d zone1 0 design$ & 
built to a*ieve a r$uction 9 ! e>?quake 
risks relative to code-design$ build+s  
by m9imiz+ build+ damage & promot+      
cont+5cy plann+ = utility disruption &  
o!r ?reats to functional recov]y t are  
describ$ 9 ! ,u4,s4 ,resili5cy ,c\ncil  
,rat+ ,sy/em ) specific design crit]ia  
a*iev+ ! ,plat9um or ,gold rat+1 &  7,b7
 9 ! case ( a qualifi$ resid5tial       
prop]ty1 ! prop]ty %all be treat$ z     
meet+ ! requirem5ts specifi$ 9 p>agraph 
7#a7 if-- 7i7 ! prop]ty is a build+     
:i*-- 7,i7 0 design$ to meet !          
requirem5ts ( ! mo/ rec5t ,int]national 
,resid5tial ,code publi%$ by !          
,int]national ,code ,c\ncil1 & receiv$ a
 ,,=tifi$ ,ro(1 ,,=tifi$ ,silv]1 or     
,,=tifi$ ,gold designation f !          
,insurance ,in/itute = ,bus9ess & ,home 
,safety1 or  7,,ii7 0 design$ to meet or
 exce$ ! requirem5ts ( ! mo/ rec5t ,/&>d
 = ,resid5tial ,con/ruction 9 ,high-,w9d

 ,regions or ,int]national ,wildl&      
,urban ,int]face ,code publi%$ by !     
,int]national ,code ,c\ncil1 or  7ii7 9 
! case ( a sub/antial r5ovation1 su*    
r5ovation meets-- 7,i7 ! requirem5ts ( !
 mo/ rec5t ,int]national ,resid5tial    
,code publi%$ by ! ,int]national ,code  
,c\ncil & ! requirem5ts ( ! ,,=tifi$    
,ro( ,/&>ds publi%$ by ! ,insurance     
,in/itute = ,bus9ess & ,home ,safety1 or
  7,,ii7 ! requirem5ts ( ! mo/ rec5t    
,/&>d = ,resid5tial ,con/ruction 9      
,high-,w9d ,regions or ,int]national    
,wildl& ,urban ,int]face ,code publi%$  
by ! ,int]national ,code ,c\ncil4  7#c7 
,absorptive capacity ,! t]m absorptive  
capacity means ! ability ( ! con/ruction
 to endure a disruption )\t significant 
deviation f normal op]at+ p]=mance4     
7#d7 ,adaptive capacity ,! t]m adaptive 
capacity means ! ability ( ! con/ruction
 to adapt to a dra/ic *ange 9 normal    
op]at+ conditions4  7#e7 ,recov]ability 
4,! t]m recov]ability means ! ability ( 
! con/ruction to recov] quickly1 & at l[

 co/1 f pot5tially disruptive ev5ts4    
7e7 ,o!r ,def9itions ,= purposes ( ?is  
section3 7#a7 ,con/ruction ,! t]m       
con/ruction includes new con/ruction &  
recon/ruction & rehabilitation t meets  
resili5t con/ruction requirem5ts4  7#b7 
,f$]ally decl>$ major disa/] ,! t]m     
f$]ally decl>$ major disa/] means a     
disa/] subsequ5tly det]m9$ by !         
,presid5t to be a major disa/] t w>rants
 assi/ance by ! ,f$]al ,gov]nm5t "u !   
,rob]t ,t4 ,/af=d ,disa/] ,relief &     
,em]g5cy ,assi/ance ,act4  7#c7 ,disa/] 
area ,! t]m disa/] area means ! area s  
det]m9$ to w>rant su* assi/ance4  7#d7  
,mo/ rec5t editions ,! t]m mo/ rec5t    
means1 ) respect to relevant national   
cons5sus-bas$ codes1 & specifications & 
/&>ds ref]5c$ !re91 ei!r ( ! two mo/    
rec5t publi%$ editions1 includ+1 if any1
 am5dm5ts made by ,/ate1 local1 tribal1 
or t]ritorial gov]nm5ts dur+ ! adoption 
process1 t incorporate ! late/ natural  
haz>d-resi/ant designs & e/abli% crit]ia
 = ! design1 con/ruction1 & ma9t5ance ( 

/ructures & facilities t may be eligible
 = assi/ance "u ?is section = ! purposes
 ( protect+ ! heal?1 safety1 & g5]al    
welf>e ( a build+'s us]s aga9/ disa/]s4 
7f7 ,application ,) ,o!r ,cr$its  7#a7  
,bus9ess cr$it treat$ z "p ( g5]al      
bus9ess cr$it ,s mu* ( ! cr$it :i* w\ld 
be all[$ "u subsection 7a7 = any taxable
 ye> 7det]m9$ )\t reg>d to ?is          
subsection7 t is attributable to prop]ty
 ( a "* subject to an all[ance =        
depreciation %all be treat$ z a cr$it   
li/$ 9 section #ch7;b7 = su* taxable ye>
 7& n all[$ "u subsection 7a774  7#b7   
,p]sonal cr$it ,= purposes ( ?is title1 
! cr$it all[$ "u subsection 7a7 = any   
taxable ye> 7det]m9$ aft] application ( 
p>agraph 7#a77 %all be treat$ z a cr$it 
all[able "u subp>t ,a = su* taxable ye>4
  7g7 ,basis ,r$uction ,= purposes ( ?is
 subtitle1 ! basis ( any prop]ty = :i* a
 cr$it is all[able "u subsection 7a7    
%all be r$uc$ by ! am\nt ( su* cr$it s  
all[$4  7h7 ,t]m9ation ,?is section %all
 n apply to any prop]ty = :i* a         

c]tificate = occupancy is issu$ aft]    
,decemb] #ca1 #bjbb4  4  7b7 ,cr$it     
,made ,"p ( ,g5]al ,bus9ess ,cr$it      
,section #ch7;b7 ( su* ,code is am5d$ by
 /rik+ plus at ! end ( p>agraph 7#ca71  
by /rik+ ! p]iod at ! end ( p>agraph    
7#cb7 & ins]t+ 1 plus1 & by add+ at !   
end ! foll[+ new p>agraph3  7#cc7 !     
portion ( ! disa/] resili5t prop]ty     
cr$it describ$ 9 section #cj;,e7f77#a74 
4  7c7 ,basis adju/m5t ,section         
#ajaf7;a7 ( su* ,code is am5d$ by /rik+ 
& at ! end ( p>agraph 7#cg71 by /rik+ ! 
p]iod at ! end ( p>agraph 7#ch7 & ins]t+
 1 &1 & by add+ at ! end ! foll[+ new   
p>agraph3  7#ci7 to ! ext5t provid$ 9   
section #cj;,e7g71 9 ! case ( am\nts )  
respect to :i* a cr$it has be5 all[$ "u 
section #cj;,e4  4  7d7 ,cl]ical        
,am5dm5t ,! table ( sections = subp>t ,b
 ( "p ,,iv ( sub*apt] ,a ( *apt] #a (   
su* ,code is am5d$ by ins]t+ aft] ! item
 relat+ to section #cj;,d ! foll[+ new  
item3  ,sec4 #cj;,e4 ,disa/] resili5t   
prop]ty4  4  7e7 ,effective ,date ,!    

am5dm5ts made by ?is section %all apply 
to prop]ty = :i* a c]tificate (         
occupancy is issu$ aft] ! date ( !      
enactm5t ( ?is ,act4