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WASHINGTON, Aug. 7, 2020 /PRNewswire/ --The Insurance Institute for Business & Home Safety (IBHS) today announced its support of the Disaster Savings and Resilient Construction Act of 2020. This bipartisan legislation, introduced by Reps. Bill Pascrell (D-NJ), Tom Reed (R-NY), Peter DeFazio (D-OR) and Mario Diaz-Balart (R-FL), would establish a tax credit to incentivize home and business owners to build or rebuild to higher construction standards after a natural disaster. The tax credit, valued up to $3,000 for homes and $25,000 for businesses, is intended to encourage property owners to rebuild more resiliently.