US SB1323

Creates a refundable tax credit equal to 50% of qualified disaster mitigation expenditures for individual taxpayers' principal residences

Maximum lifetime credit of $25,000 per taxpayer ($12,500 for married filing separately), with phaseout beginning at $200,000 adjusted gross income

Qualifying expenditures include roof strengthening, flood barriers, fire-resistant materials, storm shelters, lightning protection systems, defensible space creation, and improvements meeting FORTIFIED designation standards

Property must be located in a state or territory that experienced a federal disaster declaration for wildfire, hurricane, windstorm, or flood within the past 10 years, or in a community disaster resilience zone

Effective for taxable years beginning after December 31, 2024, with dollar thresholds adjusted annually for inflation