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Tax Credits for Disaster Preparedness: Protecting Homes and Businesses.

This act introduces new tax credits for individuals and businesses investing in measures to protect their properties from natural disasters like floods, hurricanes, and wildfires. The goal is to encourage strengthening buildings and infrastructure to better safeguard lives and assets in at-risk areas. This allows citizens to reduce potential losses and enhance the safety of their homes.
Key points
Individuals can claim a 25% credit for qualified mitigation expenses, up to $3,750 annually ($7,500 for joint filers) and a $15,000 cumulative limit per dwelling unit, subject to income phaseouts.
Businesses can claim a 25% credit for qualified mitigation expenses, up to $5,000 annually, subject to revenue phaseouts.
Eligible expenses cover a wide range of activities, from strengthening roofs and walls, installing flood and fire protection systems, to building storm shelters.
Credits are available for properties in areas that have experienced natural disasters or received federal assistance, and expenditures cannot be government-reimbursed.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_3497
Sponsor: Sen. Bennet, Michael F. [D-CO]
Process start date: 2025-12-16
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Shelter Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_3497.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-12-16.

What are the main provisions?

Key points include:

  • Individuals can claim a 25% credit for qualified mitigation expenses, up to $3,750 annually ($7,500 for joint filers) and a $15,000 cumulative limit per dwelling unit, subject to income phaseouts.
  • Businesses can claim a 25% credit for qualified mitigation expenses, up to $5,000 annually, subject to revenue phaseouts.
  • Eligible expenses cover a wide range of activities, from strengthening roofs and walls, installing flood and fire protection systems, to building storm shelters.
  • Credits are available for properties in areas that have experienced natural disasters or received federal assistance, and expenditures cannot be government-reimbursed.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Bennet, Michael F. [D-CO].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-01-11.

CATEGORIES

Taxes Real Estate Security