II 

116TH CONGRESS 

1ST SESSION S. 1708 

To amend the Internal Revenue Code of 1986 to establish a refundable 

tax credit for the installation of a storm shelter at a qualified residence. 

IN THE SENATE OF THE UNITED STATES 

JUNE 4, 2019 

Mr. JONES introduced the following bill; which was read twice and referred 

to the Committee on Finance 

A BILL 

To amend the Internal Revenue Code of 1986 to establish 

a refundable tax credit for the installation of a storm 

shelter at a qualified residence. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Storm Shelter Act of 

5 2019’’. 

6 SEC. 2. REFUNDABLE TAX CREDIT FOR STORM SHELTERS. 

7 (a) IN GENERAL.—Subpart C of part IV of sub8 chapter A of chapter 1 of the Internal Revenue Code of 

9 1986 is amended by inserting after section 36 the fol10 lowing new section: 


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1 ‘‘SEC. 36A. STORM SHELTER CREDIT. 

2 ‘‘(a) ALLOWANCE OF CREDIT.—In the case of an in3 dividual, there shall be allowed as a credit against the tax 

4 imposed by this chapter for the taxable year an amount 

5 equal to the lesser of— 

6 ‘‘(1) the total amount of any expenditures made 

7 by the taxpayer for a storm shelter which is for use 

8 at a qualified residence and placed in service during 

9 such taxable year, or 

10 ‘‘(2) $2,500. 

11 ‘‘(b) DEFINITIONS.—In this section— 

12 ‘‘(1) QUALIFIED RESIDENCE.— 

13 ‘‘(A) IN GENERAL.—The term ‘qualified 

14 residence’ means a dwelling unit which is— 

15 ‘‘(i) located in the United States, 

16 ‘‘(ii) used as the principal residence 

17 (as such term is used in section 121) of 

18 the taxpayer, and 

19 ‘‘(iii) valued at not greater than 

20 $250,000 (as determined under subpara21 graph (B)). 

22 ‘‘(B) VALUATION.—For purposes of sub23 paragraph (A)(iii), the value of a dwelling unit 

24 shall be determined based upon the most recent 

25 property tax assessment performed by the 


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1 State, or local government or a political subdivi2 sion thereof, in which such unit is located. 

3 ‘‘(2) STORM SHELTER.—The term ‘storm shel4 ter’ means a hardened structure which— 

5 ‘‘(A) is designed to provide critical protec6 tion during extreme wind events, 

7 ‘‘(B) is internally or externally located in 

8 relation to the qualified residence, and 

9 ‘‘(C) has been certified by an inspector em10 ployed or licensed by the State, or local govern11 ment or a political subdivision thereof, in which 

12 the qualified residence is located as— 

13 ‘‘(i) satisfying the requirements under 

14 subparagraph (A), and 

15 ‘‘(ii) having been constructed in com16 pliance with any applicable building code 

17 requirements. 

18 ‘‘(c) RELATED COSTS.—Expenditures incurred by 

19 the taxpayer for— 

20 ‘‘(1) any labor costs properly allocable to the 

21 onsite preparation, assembly, or original installation 

22 of the storm shelter, and 

23 ‘‘(2) the certification described in subsection 

24 (b)(2)(C), 


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1 shall be taken into account for purposes of subsection 

2 (a)(1). 

3 ‘‘(d) LIMITATION.— 

4 ‘‘(1) IN GENERAL.—Subject to paragraph (2), 

5 an individual may not claim the credit allowed under 

6 subsection (a) more than once. 

7 ‘‘(2) JOINT RETURN.—In the case of a joint re8 turn, the taxpayer may claim the credit allowed 

9 under subsection (a) unless the credit has previously 

10 been allowed to each individual filing such return. 

11 ‘‘(e) BASIS ADJUSTMENTS.—For purposes of this 

12 subtitle, if a credit is allowed under this section for any 

13 expenditure with respect to a storm shelter which is for 

14 use at a qualified residence, the increase in the basis of 

15 the qualified residence which would (but for this sub16 section) result from such expenditure shall be reduced by 

17 the amount of the credit so allowed.’’. 

18 (b) CONFORMING AMENDMENTS.— 

19 (1) Section 6211(b)(4)(A) of the Internal Rev20 enue Code of 1986 is amended by inserting ‘‘36A,’’ 

21 after ‘‘36,’’. 

22 (2) The table of sections for subpart C of part 

23 IV of subchapter A of chapter 1 of such Code is 

24 amended by inserting after the item relating to sec25 tion 36 the following new item: 

‘‘Sec. 36A. Storm shelter credit.’’. 


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1 (c) EFFECTIVE DATE.—The amendments made by 

2 this section shall apply to taxable years beginning after 

3 the date of the enactment of this Act. 

Æ 


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