I'll give you the short version of this bill.
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Creates a new refundable tax credit (new Internal Revenue Code section 36C) that lets individual taxpayers claim 50% of qualifying disaster‑mitigation spending on their homes. The credit is subject to a per‑taxpayer cap, phases out by income, includes special rules for jointly‑occupied homes, requires documentation and anti‑double‑benefit safeguards, and applies to taxable years beginning after December 31, 2024.
Read twice and referred to the Committee on Finance.
Introduced April 8, 2025 by Adam Schiff · Last progress April 8, 2025