URBAN ECONOMIC POLICY

INCOME TAX CREDIT FOR EXPENSES ASSOCIATED WITH SOUNDPROOFING HOMES NEAR AIRPORTS

WHEREAS, many homeowners living near airports are in need of financial assistance to effectively soundproof their homes; and

WHEREAS, many communities have undertaken major efforts, utilizing both federal and local resources, to accomplish the maximum amount of soundproofing possible to affected homeowners; and

WHEREAS, federal and local resources are limited and not sufficient to fund the soundproofing expenses for all affected homeowners; and

WHEREAS, a federal tax credit would provide both an additional resource to assist homeowners to do soundproofing and an incentive to accelerate pending soundproofing projects; and

WHEREAS, the objective of this proposal would be to provide additional assistance to homeowners who reside near airports by allowing them to take a non-refundable federal income tax credit in the amount of 10 percent of their unsubsidized costs associated with soundproofing their homes,

NOW, THEREFORE, BE IT FURTHER RESOLVED that The U.S. Conference of Mayors calls on Congress to enact legislation to assist homeowners who reside near airports by allowing them to take a non-refundable federal income tax credit in the amount of 10 percent of their unsubsidized costs associated with soundproofing their homes.