HR 5494
116th Congress
House
Taxation
Disaster relief and insurance
Income tax exclusion
Natural disasters
Residential rehabilitation and home repair
State and local government operations
Catastrophe Loss Mitigation Incentive and Tax Parity Act of 2019
Introduced: December 19, 2019
Introduced by:
Thompson, Mike
Democratic
· California
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 19, 2019
Referred to the House Committee on Ways and Means.
Dec 19, 2019
Introduced in House
Plain-English summary
Catastrophe Loss Mitigation Incentive and Tax Parity Act of 2019
This bill excludes from gross income, for income tax purposes, any qualified catastrophe mitigation payment made under a state-based catastrophe loss mitigation program. A qualified catastrophe mitigation payment means any amount received for making improvements to an individual's residence for the sole purpose of reducing the damage that would be done to such residence by a windstorm, earthquake, or wildfire.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1