Disaster Mitigation and Tax Parity Act of 2025

Summary

Official

Disaster Mitigation and Tax Parity Act of 2025 This bill excludes from gross income, for federal income tax purposes, payments received from a state catastrophe loss mitigation program by an individual for the purpose of making improvements to the individual’s property that mitigate the impact of certain disasters. Under current law, individuals may exclude...

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Bill Progress

Bill has been introduced and assigned a number

Introduced(1/30/25)

Committee

Passed House

Passed Senate

President

Law

Sponsor

Mr. Tillis

Senate (R) North Carolina

Cosponsors (12)

Gallego

Senate (D) Arizona

Padilla

Senate (D) California

Hickenlooper

Senate (D) Colorado

Cassidy

Senate (R) Louisiana

Bennet

Senate (D) Colorado

Budd

Senate (R) North Carolina

Merkley

Senate (D) Oregon

Klobuchar

Senate (D) Minnesota

Schiff

Senate (D) California

Kennedy

Senate (R) Louisiana

Latest Action

Read twice and referred to the Committee on Finance.

Jan 30, 2025

View Bill on Congress.gov