summary
Introduced
07/22/2021
07/22/2021
In Committee
07/22/2021
07/22/2021
Crossed Over
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th Congress
Bill Summary
A BILL To amend the Internal Revenue Code of 1986 to exclude from gross income amounts received from State-based catastrophe loss mitigation programs.
AI Summary
This bill, the Disaster Mitigation and Tax Parity Act of 2021, aims to amend the Internal Revenue Code to exclude from an individual's gross income any amounts received as "qualified catastrophe mitigation payments" under state-based programs. These payments are defined as those used to make improvements to a person's residence solely for the purpose of reducing damage from windstorms, earthquakes, or wildfires. The bill also includes conforming amendments to related sections of the tax code and sets the effective date for taxable years beginning after December 31, 2021.
Committee Categories
Budget and Finance
Sponsors (15)
Mike Thompson (D)*,
Pete Aguilar (D),
Ami Bera (D),
Suzanne Bonamici (D),
Ken Calvert (R),
Judy Chu (D),
Scott Fitzgerald (R),
John Garamendi (D),
Jimmy Gomez (D),
Jimmy Panetta (D),
Tom Rice (R),
David Rouzer (R),
Linda Sánchez (D),
Terri Sewell (D),
Jackie Speier (D),
Last Action
Referred to the House Committee on Ways and Means. (on 07/22/2021)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/117th-congress/house-bill/4675/all-info |
| BillText | https://www.congress.gov/117/bills/hr4675/BILLS-117hr4675ih.pdf |
| Bill | https://www.congress.gov/117/bills/hr4675/BILLS-117hr4675ih.pdf.pdf |
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