TAX/INCOME TAX: Increases the maximum amount of the construction code retrofitting deduction and expands the deduction to cover costs associated with "fortified home" standards compliance (EN DECREASE GF RV See Note)

Corrected capitalization of 'Standards' to 'standards' in the definition of eligible retrofitting costs.

Added the article 'the' before 'Insurance' to properly reference the Insurance Institute for Business and Home Safety.

Increased the maximum construction code retrofitting income tax deduction from $5,000 to $10,000 per residential structure.

Expanded eligible costs to include expenses for meeting 'fortified home' standards of the Insurance Institute for Business and Home Safety.

Updated the statute to explicitly require proof that the project was voluntary and that it complies with the State Uniform Construction Code.

Reorganized the repealed sections and clarified the text regarding state, municipal, or federal financial incentives.

Expanded the definition of eligible costs to include expenses for bringing a home into compliance with 'fortified home' standards set by the Insurance Institute for Business and Home Safety.

Increased the maximum individual income tax deduction for retrofitting costs from $5,000 to $10,000 per residential structure.

Added a new requirement for the Department of Revenue to promulgate rules and regulations regarding forms and verification documents for the new deduction categories.

Updated the bill text to repeal the old subsection (c) and add new subsections (d) and (e) to reorganize the statute.

Added two new sponsors, Representatives Chassion and Knox, to the bill's authorship.