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S 336119th CongressIntroduced
Disaster Mitigation and Tax Parity Act of 2025
Introduced: Oct 28, 2025
Standard Summary
Comprehensive overview in 1-2 paragraphs
Amends the Internal Revenue Code to exclude from gross income amounts received from state-based catastrophe loss mitigation programs.
Key Points
- 1Excludes state catastrophe mitigation payments from taxable income
- 2Applies to payments for property improvements reducing disaster damage
- 3Covers windstorm, earthquake, flood, and wildfire mitigation
- 4Retroactive application to years after December 31, 2021
- 5Allows amended returns for past exclusions
Impact Areas
Disaster preparednessProperty insuranceState emergency managementTax policyHomeowners and businesses
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