3.0.0 5176 2022-12-29T09:03:22Z 2022-12-29T09:03:22Z Senate S 2022-12-01 117 ssfi00 Finance Committee Senate Standing Referred to 2022-12-01T20:55:58Z Disaster Mitigation and Tax Parity Act of 2021 117 4675 HR 2021-07-22 Referred to the House Committee on Ways and Means. Related bill CRS Disaster Mitigation and Tax Parity Act of 2021 117 2432 S 2022-09-08 Committee on Banking, Housing, and Urban Affairs. Hearings held. Related bill CRS 2022-12-01 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2022-12-01 Introduced in Senate IntroReferral 10000 9 Library of Congress C001075 Sen. Cassidy, Bill [R-LA] Bill Cassidy R LA N F000062 Sen. Feinstein, Dianne [D-CA] Dianne Feinstein D CA 2022-12-01 True Taxation Taxation 00 2022-12-01 Introduced in Senate 2022-12-09T17:05:16Z Disaster Mitigation and Tax Parity Act of 2022

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, wildfire, or flooding.

This tax exclusion is retroactive to taxable years beginning after 2020, including by amended return.

]]> Disaster Mitigation and Tax Parity Act of 2022 Display Title Disaster Mitigation and Tax Parity Act of 2022 Short Title(s) as Introduced Disaster Mitigation and Tax Parity Act of 2022 Introduced in Senate IS Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to exclude from gross income amounts received from State-based catastrophe loss mitigation programs. Introduced in Senate IS Introduced in Senate 2022-12-01T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117s5176is/xml/BILLS-117s5176is.xml 2022-12-01 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.