<p><strong>Supporting Affordable Fire Emergency Hardening through Optimized Mitigation Efforts Act or the SAFE HOME Act</strong></p><p>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.)</p><p>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.</p><p> Wildfire mitigation expenses that qualify for the tax credit include</p><ul><li>property to improve the fire-resistance of a roof;</li><li>installation of ignition-resistant property (e.g., sheathing, flashing, roof and attic vents, or certain exterior elements) or structure-specific water hydration systems;</li><li>services or equipment to create a buffer around the residence or to replace flammable vegetation with less flammable vegetation;</li><li>services or equipment for certain fire maintenance procedures; and</li><li>services or equipment to prevent smoke inhalation (e.g., air filters).</li></ul><p>Further, such expenses must be incurred with respect to a primary residence located (1) in the United States; and (2) in an area that, due to a wildfire, received a federal disaster declaration within the prior 10 years or that is adjacent to such area, that received certain hazard mitigation assistance in the tax year or the&nbsp;prior 10 years, or that is a community disaster resilience zone (or received such designation for any tax year).</p>