HR 5543
115th Congress
House
Taxation
Disaster relief and insurance
Floods and storm protection
Income tax credits
Inflation and prices
Insurance industry and regulation
Life, casualty, property insurance
Flood Insurance Tax Credit Act of 2018
Introduced: April 17, 2018
Introduced by:
Velázquez, Nydia M.
Democratic
· New York
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 17, 2018
Referred to the House Committee on Ways and Means.
Apr 17, 2018
Introduced in House
Plain-English summary
Flood Insurance Tax Credit Act of 2018
This bill amends the Internal Revenue Code to allow a tax credit for flood insurance expenses. The credit applies to portions of a taxpayer's expenses for federal flood insurance, private flood insurance, and federal contents coverage flood insurance for a principal residence. The amount of the credit is subject to limitations based on the taxpayer's income and must be adjusted for inflation after 2019.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1