Property Owners May Get Tax Breaks for Retrofits

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A proposed state tax credit for earthquake retrofits passed the Senate on Tuesday, and if it eventually gets the governor’s signature, it would give property owners $30 in tax breaks for every $100 spent on making homes and apartments earthquake resistant, the Los Angeles Times reports. However, there’s a cap on the amount of breaks given out each year. In Los Angeles, Mayor Eric Garcetti has proposed requiring retrofits of thousands of older buildings.

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