The Shelter Act proposes a tax credit for disaster mitigation expenditures, allowing individuals and businesses to claim a credit for certain.
The Shelter Act amends the Internal Revenue Code to introduce a tax credit for disaster mitigation expenditures. This credit applies to both individuals and businesses for expenditures made to enhance the resilience of dwellings and places of business against natural disasters. Eligible expenditures include improvements to roofing, walls, and foundations, as well as the installation of storm shelters and lightning protection systems.
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