LEGISLATIVE RESOLUTION memorializing the United States House of Repre-
sentatives and the United States Senate to pass tax relief legislation
for the victims of Hurricane Sandy, who are working to rebuild in the
wake of successive devastating storms

WHEREAS, Hurricane Sandy was the second-costliest natural disaster in
the history of our country, damaging or destroying homes and businesses
throughout New York City, Long Island, and the Hudson Valley, and on the
heels of Hurricane Irene and Tropical Storm Lee, from which Upstate New
York is still struggling to recover; and
WHEREAS, The impact of these storms on New York's housing stock has
been particularly acute, with over 90,000 single family homes, and
33,000 rental homes damaged or destroyed, 50% of which are low-income
households; and
WHEREAS, There is strong precedent for swift passage of a Tax Relief
Act in addition to a Community Development Block Grant program supple-
mental spending bill to support full recovery following past natural
disasters, such as: the Katrina Emergency Tax Relief Act of 2005; the
Gulf Opportunity Zone Act of 2005; the 2008 Farm Bill targeting tax
relief to Kansas communities; and the Heartland Disaster Tax Relief Act
of 2008, passed just two months after Midwest storms; and
WHEREAS, There is strong bipartisan bicameral support in the United
States Congress for a Hurricane Sandy Tax Relief Act, with legislation
introduced in the House of Representatives last year; now, therefore be
it
RESOLVED, This Legislative Body requests that the United States
Congress quickly pass tax relief legislation to support rebuilding and
recovery in areas impacted by Hurricanes Sandy and Irene comparable to
that advanced after previous disasters with tax relief resources includ-
ing but not limited to: Mortgage Revenue Bonds; Low Income Housing Tax
Credits; New Markets Tax Credits; and Work Opportunity Tax Credits, as
well as tax relief related to Casualty Losses and Net Operating Losses;
and be it further
RESOLVED, That copies of this Resolution, suitably engrossed, be tran-
smitted to the President of the Senate of the United States, the Speaker
of the U.S. House of Representatives, and to each member of the Congress
of the United States from the State of New York.