S. 2432 · 117th Congress
Disaster Mitigation and Tax Parity Act of 2021
- Stage
- In committee
- Sponsor
- Dianne Feinstein
- Introduced
- 2021-07-22
- Latest action
- 2022-09-08 · Committee on Banking, Housing, and Urban Affairs. Hearings held.
Summary
Disaster Mitigation and Tax Parity Act of 2021
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.