1. Short title This Act may be cited as the Shelter Act . 2. Nonrefundable personal credit for disaster mitigation expenditures (a) In general Subpart A of part IV of subchapter A of chapter 1 of the Internal Revenue Code of 1986 is amended by inserting after section 25E the following new section: 25F. Disaster 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 disaster 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 $2,500. (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 amount (not less than zero) equal to the adjusted gross income of the taxpayer for such taxable year minus $100,000, bears to (ii) $50,000. (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. (3) Joint return If a joint return is filed by the taxpayer for any taxable year— (A) for purposes of determining the amount of any credit allowed under subsection (a) for such taxable year, the dollar amount under paragraph (1) shall be doubled, and (B) for purposes of determining the