HR. 1070In Committee
Restoring Competitive Property Insurance Availability Act
Allow certain property insurers to temporarily exclude disaster-area real property insurance premiums from federal gross income for five tax years after a federally declared disaster
Plain-English overview
What this bill does
Allow certain property insurers to temporarily exclude disaster-area real property insurance premiums from federal gross income for five tax years after a federally declared disaster
Key points
- Limit exclusion to disaster areas
- Allow premium income exclusion
- Extend exclusion for five tax years
Current status
Where it stands
Status
In Committee
Latest action
2025-02-06 — Referred to the House Committee on Ways and Means.
Related context
Topics and policy areas
undefinedTaxation