Legislation was filed Wednesday to create a tax credit for people who install storm shelters or safe rooms in their homes.
The tax credit could reduce the cost of shelters and safe rooms. In Arkansas, there is already a state rebate program that pays homeowners who install storm shelters as much as $1,000. Homeowners would be able to use this proposed tax credit in addition to the state program.
The bill is expected to be considered mid-November, when the House and Senate reconvene. If passed, The Storm Shelter Affordability Act of 2014 would give a federal tax credit of up to $1,000 for homeowners installing these shelter.