of the most recent International Building Code published by the International Code Council, and (C) designed and constructed to meet resilient construction requirements. (3) Qualified residential property The term qualified residential property means a building that is— (A) located in the United States, (B) defined in the scope of the most recent International Residential Code published by the International Code Council, and (C) designed and constructed to meet resilient construction requirements. (d) Resilient Construction Requirements For purposes of this section— (1) In general The resilient construction requirements with respect to a property are that the property is designed and constructed to— (A) resist hazards brought on by a major disaster and continues to provide its primary functions after a major disaster, (B) reduce the magnitude or duration of a disruptive event, and (C) have the absorptive capacity, adaptive capacity, and recoverability to withstand a potentially disruptive event. (2) Treated as meeting resiliency requirements For purposes of paragraph (1)— (A) in the case of a qualified commercial property, the property shall be treated as meeting the requirements specified in paragraph (1) if the property is a building which— (i) was designed to meet the requirements of the most recent International Building Code published by the International Code Council and meets the FORTIFIED Commercial Wind Standard published by the Insurance Institute for Business and Home Safety, or the most recent International Wildland Urban Interface Code published by the International Code Council, (ii) in the case of a substantial renovation, such renovation meets the requirements of— (I) the most recent International Building Code published by the International Code Council and the FORTIFIED Commercial Wind Standard published by the Insurance Institute for Business and Home Safety, or (II) the most recent International Wildland Urban Interface Code published by the International Code Council, or (iii) in the case of