1. Short title This Act may be cited as the Storm Shelter Act of 2019 . 2. Refundable tax credit for storm shelters (a) In general Subpart C of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 36 the following new section: 36A. Storm shelter credit (a) Allowance of credit In the case of an individual, there shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to the lesser of— (1) the total amount of any expenditures made by the taxpayer for a storm shelter which is for use at a qualified residence and placed in service during such taxable year, or (2) $2,500. (b) Definitions In this section— (1) Qualified residence (A) In general The term qualified residence means a dwelling unit which is— (i) located in the United States, (ii) used as the principal residence (as such term is used in section 121) of the taxpayer, and (iii) valued at not greater than $250,000 (as determined under subparagraph (B)). (B) Valuation For purposes of subparagraph (A)(iii), the value of a dwelling unit shall be determined based upon the most recent property tax assessment performed by the State, or local government or a political subdivision thereof, in which such unit is located. (2) Storm shelter The term storm shelter means a hardened structure which— (A) is designed to provide critical protection during extreme wind events, (B) is internally or externally located in relation to the qualified residence, and (C) has been certified by an inspector employed or licensed by the State, or local government or a political subdivision thereof, in which the qualified residence is located as— (i) satisfying the requirements under subparagraph (A), and (ii) having been constructed in compliance with any applicable building code requirements. (c) Related costs Expenditures incurred by the taxpayer for— (1) any labor costs properly allocable to the onsite preparation, assembly, or original installation of the storm shelter, and (2)