This bill provides a tax credit to help individuals pay for improvements that protect their homes from disasters. It encourages people to invest in safety measures by reducing their tax burden.
If you invest in disaster prevention for your home, you could get back half of what you spend on your taxes.
Who this affects
Homeowners · Renters
What changes is this bill making?
1This bill offers a tax credit for individuals who spend money on disaster prevention improvements.
2Taxpayers can receive a credit worth 50% of their qualified disaster mitigation expenses.
3The maximum credit is $25,000, but it can be reduced based on income levels.
4The bill allows joint occupants of a home to share the credit for their disaster mitigation costs.
5The credit amounts will increase with inflation starting in 2026.
