The U.S. Congress recently passed the Budget Act of 2018 that includes provisions to encourage states to adopt the latest building codes and invest in natural disaster mitigation.
The bill’s Federal Cost Share Reform Incentive allows post-disaster federal cost-sharing with states to increase from 75% to as high as 85% on a sliding scale based on factors including the adoption and enforcement of the latest building codes; the adoption of a mitigation plan; and investments in disaster relief, insurance, and emergency management programs. The International Code Council and other code bodies hailed the development.
“This provision is a significant victory for the tax-paying public, as it will help reduce the burden of growing financial losses on the federal government and the states due to the increased frequency of natural disasters,” said Code Council Chief Executive Officer Dominic Sims, CBO.
Related Stories
Legislation | Aug 10, 2016
Calif. bill would speed up environmental lawsuits on certain projects
A nine-month limit has been proposed for some $100 million-plus projects.
Resiliency | Aug 10, 2016
White House pushes for better finance strategies for disaster mitigation and resilience
The move highlights innovative insurance, mortgage, tax, and finance-based strategies.
Regulations | Aug 9, 2016
New trend eases parking requirements for U.S. cities
Transit-oriented development and affordable housing are spurring the movement.
Regulations | Aug 8, 2016
EPA toughens rules to reduce formaldehyde exposure from composite wood products
Products will now have to be labeled as compliant to the new rules.
Regulations | Aug 5, 2016
Stop-work orders in New York City up sharply this year
The orders come after a rise in the number of deadly accidents that have occurred in the past few years.
Sustainability | Aug 4, 2016
S.F. Bay Area voters approve first-of-its-kind tax to fight impact of climate change
The funds from the tax will be used to restore wetlands
Concrete | Aug 2, 2016
Concrete Association builds case against cross-laminated timber
The campaign asserts that not enough is known about CLT in construction
Seismic Design | Jul 28, 2016
Risk of man-made earthquakes now factor in seismic hazard analysis
Significant risk increases seen in some areas of the U.S.
Resiliency | Jul 27, 2016
New York’s resilience plans not taking long-term view, critics charge
Continued waterfront development may be regretted later this century.
Green Specifications | Jul 26, 2016
New Miami Beach law requires LEED certification on projects larger than 7,000 sf
LEED Silver the prescribed standard on buildings larger than 50,000 sf.
