CA SB295

Allows personal income tax credits for taxable years 2020-2024 for qualified taxpayers who incur costs for qualified home hardening on properties in fire hazard severity zones.

Home hardening credit amounts equal 50% of qualified costs, capped at $2,500 (moderate zone), $5,000 (high zone), or $10,000 (very high zone) per taxable year.

Allows a separate tax credit for 50% of qualified vegetation management costs, capped at $1,000 per taxable year, on properties in fire hazard zones.

Limits credits to taxpayers with adjusted gross income not exceeding $400,000 (joint filers) or $200,000 (other individuals) who own the property and receive a homeowners' exemption.

Requires the Legislative Analyst's Office to report on the number of taxpayers claiming credits and average credit amounts claimed; both credits expire December 1, 2025.