HR. 1849Introduced
Disaster Mitigation and Tax Parity Act of 2025
Excludes certain state catastrophe loss mitigation payments from federal taxable income when used to strengthen property against windstorm, earthquake, flood, or wildfire damage
Plain-English overview
What this bill does
Excludes certain state catastrophe loss mitigation payments from federal taxable income when used to strengthen property against windstorm, earthquake, flood, or wildfire damage
Key points
- Prohibit basis increase
- Limit payments to disaster hardening
- Allow state program tax exclusion
- Exclude mitigation payments
Current status
Where it stands
Status
Introduced
Latest action
2026-02-04 — ASSUMING FIRST SPONSORSHIP - Mr. Murphy asked unanimous consent that he may hereafter be considered as the first sponsor of H.R. 1849, a bill originally introduced by Representative LaMalfa, for the purpose of adding cosponsors and requesting reprintings pursuant to clause 7 of rule XII. Agreed to without objection.
Related context
Topics and policy areas
undefinedDisaster relief and insuranceIncome tax exclusionNatural disastersResidential rehabilitation and home repairState and local government operationsTaxation