• Code requirement!
• Let us give you options on weatherproofing

• Peace of Mind . . . Meets IRC Egress Codes
• Maintenance-Free

This milestone legislation will help provide an enormous boost to the housing industry in the form of a tax credit for first-time home buyers, as well as much-needed measures that will improve mortgage liquidity, foster refinancing of troubled loans, and expand the supply of affordable rental housing. 

A new consumer Web site, http://www.federalhousingtaxcredit.com, includes details and a set of comprehensive questions and answers about how the credit works and how consumers can take advantage of it.

National Association of Home Builders developed a set of materials to help you learn about and promote the Web site to home buyers that can be downloaded online at http://www.nahb.org/mythbuster.

Many PA municipalities have elected to use "certified third party agencies" to enforce the residential UCC Code. If you have complaints concerning municipal and/or third party agencies visit: www.dli.state.pa.us, click 'building codes', click 'complaints about municipal & 3rd party agency officials'.

Print form, complete and mail detailed form to: Chief, UCC Inspection Division, Department of Labor & Industry, 651 Boas Street, Rm. 1613, Harrisburg, PA 17121-0750

Complaints will be investigated and complainant informed of decision.

On February 13, 2008, President Bush signed the Economic Stimulus Act of 2008. Two significant provisions offer tax incentives to businesses that make investments in depreciable machinery, equipment, furniture, computer hardware and software.

50% Bonus Depreciation - Generally a business must depreciate the cost of personal property assets over a prescribed number of years as determined by the IRS (i.e., 3, 5, 7 or 15 yrs.). This new Legislation allows all businesses to immediately write-off 50 percent of the cost of assets purchased in 2008 and then still deduct regular first year depreciation on the remaining cost. Any buildings that are constructed or renovated this year should have a cost segregation study performed to identify the personal property components that are eligible for this additional depreciation. While bonus depreciation is allowed for alternative minimum tax (ATM) purposes, many states will require the taxpayer to compute state tax depreciation without regard for bonus depreciation.

Section 179 continues to be expanded to make more taxpayers eligible for an immediate deduction for the cost of assets purchased. For tax years beginning in 2008, businesses that acquire less than $800,000 of depreciable personal property during the tax year may immediately expense up to $250,000 of asset cost in their 2008 tax return. Bonus depreciation can also be claimed by a business that utilizes Section 179.

Discuss these changes with your tax advisor!

ALL BUILDERS: CHECK SECTION R-310!

LEGISLATION UPDATE & 2006 CODE BOOKS

The state Senate followed the state House in voting unanimously to pass the bill providing tax credits that encourage building and remodeling homes in ways that provide easy access to disabled people. Introduced in March, Senate Bill 1158 received Senate approval June 27. Gov. Ed Rendell received the bill Oct. 24 and is expected to sign it.

Builders will not face the added complication of notifying affected school districts of development plans as members of the House voted 112-81 against an amendment requiring notification. PBA members oppose the efforts to force developers to file additional paperwork that results in additional business costs simply because school districts fail to communicate with municipal governments.

Prepare for change to the 2006 Code. Purchase your updated code books in PBA’s on-line store at www.pabuilders.org/storeindex.cfm