CA AB1510

Allows a 30% tax credit against Personal Income Tax and Corporation Tax for qualified costs of seismic retrofit construction on at-risk buildings for taxable years beginning January 1, 2015 through December 31, 2019

Defines "at-risk property" as buildings deemed hazardous and in danger of collapse during earthquakes, including soft story buildings, nonductile concrete residential buildings, and pre-1994 concrete residential buildings

Requires taxpayers to obtain certification from local building code enforcement authority that a building is at-risk and provide certification to the Franchise Tax Board upon request

Allows qualified taxpayers who own at-risk buildings to claim the credit at one-fifth per year over five taxable years, with excess credit carrying over to subsequent years

Excludes ordinary repair and replacement costs, engineering/architectural work costs, and fees paid to jurisdictions for issuing certification from qualified costs eligible for the credit