1. Short title This Act may be cited as the Supporting Affordable Fire Emergency Hardening through Optimized Mitigation Efforts Act or the SAFE HOME Act . 2. Refundable personal credit for wildfire mitigation expenditures (a) In general Subpart C of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 (relating to refundable credits) is amended by inserting after section 36B the following new section: 36C. Wildfire mitigation expenditures (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 25 percent of the qualified wildfire mitigation expenditures made by the taxpayer during such taxable year. (b) Maximum credit (1) In general Subject to paragraphs (2) and (3), the credit allowed under subsection (a) for any taxable year shall not exceed $25,000. (2) Phaseout (A) In general The amount under paragraph (1) for the taxable year shall be reduced (but not below zero) by an amount which bears the same ratio to the amount under such paragraph as— (i) the excess (if any) of— (I) the taxpayer’s adjusted gross income for such taxable year, over (II) $200,000, bears to (ii) $100,000. (B) Inflation adjustment In the case of any taxable year after 2024, each of the dollar amounts under subparagraph (A) shall be increased by an amount equal to— (i) such dollar amount, multiplied by (ii) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, determined by substituting calendar year 2023 for calendar year 2016 in subparagraph (A)(ii) thereof. (C) Rounding If any reduction determined under subparagraph (A) is not a multiple of $50, or any increase under subparagraph (B) is not a multiple of $50, such amount shall be rounded to the nearest multiple of $50. (c) Definitions For purposes of this section— (1) Qualified wildfire mitigation expenditure (A) In general The term qualified wildfire mitigation expenditure means an