S 2432
117th Congress
Senate
Taxation
Disaster relief and insurance
Income tax exclusion
Natural disasters
Residential rehabilitation and home repair
State and local government operations
Disaster Mitigation and Tax Parity Act of 2021
Introduced: July 22, 2021
See on congress.gov
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 8, 2022
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 117-747.
Jul 22, 2021
Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S5052)
Jul 22, 2021
Introduced in Senate
Plain-English summary
Disaster Mitigation and Tax Parity Act of 2021
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
Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 117-747.
Committees of jurisdiction
2