3.0.0 1169 2025-12-05T22:49:08Z 2025-12-05T22:49:08Z House H HR 2025-02-10 119 https://www.congress.gov/bill/119th-congress/house-bill/1169 <pre>[Congressional Record Volume 171, Number 27 (Monday, February 10, 2025)][House]From the Congressional Record Online through the Government Publishing Office [<a href="https://www.gpo.gov">www.gpo.gov</a>]By Mr. JACKSON of Texas:H.R. 1169.Congress has the power to enact this legislation pursuantto the following:Article I Section 8 of the United States Constitution.[Page H614]</pre> hswm00 Ways and Means Committee House Standing Referred To 2025-02-10T17:03:25Z 119 496 S 2025-02-10 Read twice and referred to the Committee on Finance. Identical bill CRS 2025-02-10 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2025-02-10 Introduced in House IntroReferral Intro-H 9 Library of Congress 2025-02-10 Introduced in House IntroReferral 1000 9 Library of Congress J000304 Rep. Jackson, Ronny [R-TX-13] Ronny Jackson R TX 13 N V000134 Rep. Van Duyne, Beth [R-TX-24] Beth Van Duyne R TX 24 2025-02-25 False Taxation Taxation 2025-05-05T18:41:20Z

00 2025-02-10 Introduced in House 2025-08-18T17:15:02Z <p><strong>Wildfire Victim Tax Relief and Recovery Act</strong></p><p>This bill allows farmers to defer taxes on&nbsp;gain from the sale or exchange of livestock because of a fire. (Conditions apply.) The bill also allows individuals to exclude from gross income (for tax purposes) certain disaster relief payments received in connection with specific Texas wildfires.</p><p>Currently, farmers may defer gain on the sale or exchange of livestock (other than poultry) held for draft, breeding, or dairy purposes due to drought, flood, or other weather-related conditions for two years (four years if attributable to a federally-declared disaster). Otherwise, under current law, gain on the sale of livestock (including poultry) due to such weather-related conditions attributable to a federally-declared disaster may be deferred for one year. (Conditions apply.)</p><p>The bill adds fire to the list of circumstances for which the gain on the sale or exchange of livestock may be deferred, thus allowing farmers to defer such gains for up to four years (depending on the type of livestock and whether the sale is attributable to a federally-declared disaster).</p><p>The bill also allows individuals to exclude from gross income payments received from federal, state, or local government agencies or Xcel Energy (or any subsidiary, insurer, or agent of Xcel Energy) as compensation for unreimbursed losses, damages, and certain expenses attributable to the</p><ul><li>Smokehouse Creek, 687 Reamer, and Roughneck Fires (Hutchinson County, Texas, February and March 2024);</li><li>Windy Deuce Fire (Moore County, Texas, February 2024); and</li><li>Grape Vine Creek Fire (Gray County, Texas, February 2024).</li></ul>

Display Title 45 2025-03-13T06:38:30Z Short Title(s) as Introduced 101 2025-03-13T06:38:24Z Introduced in House IH Official Title as Introduced 6 2025-03-13T06:33:44Z Introduced in House IH Introduced in House 2025-02-10T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-119hr1169ih/xml/BILLS-119hr1169ih.xml 2025-02-10 Referred to the House Committee on Ways and Means. 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.