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H.R. 1070 119th Congress House

Restoring Competitive Property Insurance Availability Act

Official title: To amend the Internal Revenue Code of 1986 to exclude from gross income certain income from providing real property insurance following certain federally declared disasters.

Introduced: February 6, 2025 Introduced by: Clay Higgins Republican · Louisiana See on congress.gov
Taxation
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 6, 2025
Referred to the House Committee on Ways and Means.
Feb 6, 2025
Introduced in House
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What's happening now February 6, 2025

Referred to the House Committee on Ways and Means.

 Plain-English summary Congressional Research Service

Restoring Competitive Property Insurance Availability Act

This bill allows certain insurance companies to temporarily exclude premiums paid for real property insurance on property located in a federally-declared disaster area from the company's gross income for federal tax purposes.

Specifically, under the bill, an insurance company (other than a life insurance company) that provided real property insurance immediately prior to a federally-declared disaster for property located in the disaster area may exclude from gross income (1) the amount of premiums paid for such insurance, minus (2) any tax deductions properly attributed to such premiums. Further, such premiums may be excluded for the first five tax years ending after the date of the disaster.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Lobbying activity 11

Registered lobbyists who named this bill in their disclosure filings. Source: federal Lobbying Disclosure Act filings.

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APA
U.S. Congress. (2026). H.R. 1070: Restoring Competitive Property Insurance Availability Act. 119th Congress. Open America. https://openamerica.io/bill/119-HR-1070/
MLA
"H.R. 1070: Restoring Competitive Property Insurance Availability Act." 119th Congress, 2026, Open America, https://openamerica.io/bill/119-HR-1070/.
Bluebook (legal)
H.R. 1070, 119th Cong. (2026), https://openamerica.io/bill/119-HR-1070/.
Markdown link
[H.R. 1070: Restoring Competitive Property Insurance Availability Act](https://openamerica.io/bill/119-HR-1070/)
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