S. 586In Committee
Flood Insurance Affordability Tax Credit Act
Establishes a refundable tax credit for certain National Flood Insurance Program premiums on a principal residence, with income-based phaseouts and advance payment
Plain-English overview
What this bill does
Establishes a refundable tax credit for certain National Flood Insurance Program premiums on a principal residence, with income-based phaseouts and advance payment
Key points
- Establish refundable flood insurance tax credit
- Require IRS advance payment program
- Limit credit by household income
Current status
Where it stands
Status
In Committee
Latest action
2025-02-13 — Read twice and referred to the Committee on Finance.
Related context
Topics and policy areas
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