Storms Shelter Tax Break
Oklahoma City, OK – Fallin to announce Okla. storm shelter tax break
OKLAHOMA CITY (AP) Gov. Mary Fallin is expected to announce details of a plan for a $2,000 tax rebate to eligible homeowners for the installation of a tornado safe room.
Fallin and Oklahoma Emergency Management Director Albert Ashwood have scheduled a news conference Tuesday to discuss the rebate.
The program will be administered by the Oklahoma Department of Emergency Management and will offer rebates of up to $2,000 for the purchase of a safe room. An online registration process will launch following Tuesday's announcement.
Meanwhile, U.S. Sen. Jim Inhofe is pushing for a separate $2,500 tax break at the federal level. Inhofe introduced a bill last week that would allow a tax deduction for homeowners who install a storm shelter or safe room capable of withstanding an EF5 tornado, the most powerful recorded.
Copyright 2011 The Associated Press.