H.R. 5494 · 116th Congress
Catastrophe Loss Mitigation Incentive and Tax Parity Act of 2019
- Stage
- In committee
- Sponsor
- Mike Thompson
- Introduced
- 2019-12-19
- Latest action
- 2019-12-19 · Introduced in House
Summary
Catastrophe Loss Mitigation Incentive and Tax Parity Act of 2019
This bill excludes from gross income, for income tax purposes, any qualified catastrophe mitigation payment made under a state-based catastrophe loss mitigation program. A qualified catastrophe mitigation payment means any amount received for making improvements to an individual's residence for the sole purpose of reducing the damage that would be done to such residence by a windstorm, earthquake, or wildfire.