S 5176
Disaster Mitigation and Tax Parity Act of 2022
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
Disaster Mitigation and Tax Parity Act of 2022 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, wildfire, or flooding. This tax exclusion is retroactive to taxable years beginning after 2020, including by amended return.
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Primary sponsor
Cosponsor
Dianne Feinstein
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