SAFE HOME Act

[AI summary unavailable — showing source text] Supporting Affordable Fire Emergency Hardening through Optimized Mitigation Efforts Act or the SAFE HOME Act This bill establishes a new refundable tax credit (through 2032) for costs incurred by an individual to improve the fire resistance of a primary residence. (Certain requirements and limitations apply.) The amount of the tax credit is 25% of unreimbursed qualified wildfire mitigation expenses up to $25,000. The tax credit begins to phase out for individuals with an adjusted gross income exceeding $200,000, such that the tax credit is completely phased out for individuals with an adjusted gross income of $300,000 or more. Wildfire mitigation expenses that qualify for the tax credit include property to improve the fire-resistance of a roof; installation of ignition-resistant property (e.g., sheathing, flashing, roof and attic vents, or certain exterior elements) or structure-specific water hydration systems; services or equipment to create a buffer around the residence or to replace flammable vegetation with less flammable vegetation; services or equipment for certain fire maintenance procedures; and services or equipment to prevent smoke inhalation (e.g., air filters). Further…