Refundable Tax Credit for Home Disaster Mitigation and Resilience Improvements (Up to $25,000).
This law introduces a new, refundable tax credit covering 50% of costs spent by homeowners to protect their principal residence against natural disasters like wildfires, hurricanes, and floods. Citizens can claim up to $25,000 to invest in resilience improvements, such as roof strengthening, flood vents, or installing storm shelters. The credit is available for homes located in areas that have experienced major natural disasters within the last 10 years, effective starting in 2025.
Key points
50% Refundable Credit: You can get back half of the money spent on making your home disaster-resistant, up to a $25,000 lifetime limit.
Wide Range of Improvements: Covers structural reinforcement, fire mitigation systems, water protection, storm shelters, emergency generators, and vegetation removal.
Income Limits Apply: The credit is phased out for high-income earners (starting above $200,000 Adjusted Gross Income).
Exclusions: Costs reimbursed by insurance or government grants do not qualify for the credit.
Introduced
Additional Information
Print number: 119_HR_6473
Sponsor: Rep. Mullin, Kevin [D-CA-15]