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Bill

Bill

A 1243

Establishes the building and fire code adherence tax credit

2025 Regular Session Introduced by Chris Burdick and 6 co-sponsors

Bill A 1243 offers a tax credit to property owners and developers who comply with building and fire codes, boosting safety and encouraging infrastructure investment.

REFERRED TO WAYS AND MEANS
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Bill Summary · A 1243

Summary of Bill A 1243: Establishes the Building and Fire Code Adherence Tax Credit

Purpose and Intent

Bill A 1243 aims to incentivize compliance with building and fire safety codes by establishing a tax credit for property owners and developers who adhere to these regulations. The intent is to enhance public safety, reduce fire hazards, and encourage investment in infrastructure that meets or exceeds safety standards.

Key Provisions

  • Tax Credit Establishment: The bill proposes a tax credit for eligible property owners and developers who demonstrate compliance with local building and fire codes.
  • Eligibility Criteria: Specific criteria will be outlined to determine which properties and improvements qualify for the tax credit. This may include:
    • New constructions that meet updated safety standards.
    • Renovations of existing structures that bring them into compliance with current codes.
  • Credit Amount: The bill will specify the percentage or dollar amount of the tax credit, although these details are not yet available in the current version.
  • Application Process: A streamlined application process will be established to facilitate access to the tax credit for eligible parties.

Who Would Be Affected

  • Property Owners: Individuals and businesses owning properties that require compliance with building and fire codes will benefit from the tax credit.
  • Developers: Real estate developers who invest in new construction or renovation projects that meet safety standards will also be eligible.
  • Local Governments: Municipalities may see improved compliance rates with building and fire codes, potentially leading to enhanced public safety and reduced emergency response costs.

Procedural Aspects

  • Current Status: As of January 9, 2025, Bill A 1243 has been referred to the Ways and Means Committee for further consideration.
  • Timeline: The bill is in the early stages of the legislative process, and further actions will depend on discussions and evaluations by the committee.

Related Bills

  • A 9056: A prior-session bill that may have addressed similar issues regarding building and fire safety compliance.
  • A 6961: Another prior-session bill that could provide context or background relevant to the current legislation.

This summary provides an overview of Bill A 1243, highlighting its purpose, key provisions, and potential impacts on stakeholders. Further developments will clarify the specifics of the tax credit and its implementation.

Compiled from official sources — confirm details with the bill’s official record.

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