This bill — known as the SHELTER Act — would provide tax credits for families and businesses that make qualified expenditures in hurricane and tornado readiness on their residence or business property. Taxpayers would be able to receive a tax credit for 25 percent of their qualified hurricane and tornado mitigation expenses up to $5,000 for any taxable year.
Qualified projects would include:
Strengthening a roof deck attachment;
Creating a secondary water barrier;
Improving the durability of a roof covering;
Bracing gable-end walls;
Reinforcing the connections between a roof and supporting wall;
Protecting against windborne debris;
Protecting exterior doors and garages.
The bill’s full title is the Strengthening Homes and Eliminating Liabilities Through Encouraging Readiness Act.