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EconomyH.R. 5366Comments

Doug LaMalfa Federal Disaster Tax Relief Certainty Act

Official title: To amend the Internal Revenue Code of 1986 to codify and extend the rules for personal casualty losses arising from major disasters and the rules for the exclusion from gross income of compensation for losses or damages resulting from certain wildfires.

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Where the Bill Stands

  1. Introduced, done
  2. Committee, done
  3. Floor Vote, done
  4. Outcome, shown after you vote

What This Bill Does

This act extends the federal tax deduction for qualified disaster-related personal casualty losses and the exclusion from gross income of qualified wildfire relief payments.

Under current law, unreimbursed personal casualty losses arising in a qualified disaster area (qualified disaster-related personal casualty losses) are deductible (as an itemized tax deduction or as part of the standard tax deduction) if such losses exceed $500 per casualty. A qualified disaster area is an area with respect to which a major disaster has been declared during the period beginning in 2020 and ending 60 days after July 4, 2025, if the incident period begins on or after December 28, 2019, and on or before July 4, 2025.

The act extends the federal tax deduction for qualified disaster-related personal casualty losses by defining a qualified disaster area as an area with respect to which a major disaster has been declared if the incident period begins on or after December 28, 2019, and before January 1, 2027.

The act provides that the exclusion from gross income of qualified wildfire relief payments applies to such payments attributable to forest or range fires declared a federal disaster after 2014 and before 2027, regardless of when such payments are received. (Currently, qualified wildfire relief payments attributable to forest or range fires declared a federal disaster after 2014 and received after 2019 and before 2026 may be excluded from gross income.)

The act also provides statutory authority for several related tax rules.

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Related Documents

Bill on Congress.govWeb Page ↗ (opens in a new tab)

Timeline

  1. Library of CongressSigned by President.
  2. Became Law
  3. House floor actionsPresented to President.
  4. SenateMessage on Senate action sent to the House.
  5. SenateSenate Committee on Finance discharged by Unanimous Consent.
  6. Library of CongressPassed/agreed to in Senate: Passed Senate without amendment by Unanimous Consent.
  7. Floor Vote
  8. SenateReceived in the Senate and Read twice and referred to the Committee on Finance.
  9. House floor actionsMr. Smith (MO) moved to suspend the rules and pass the bill, as amended.
  10. House floor actionsReported (Amended) by the Committee on Ways and Means. H. Rept. 119-605.
  11. House committee actionsCommittee Consideration and Mark-up Session Held
  12. Library of CongressIntroduced in House
  13. House floor actionsReferred to the House Committee on Ways and Means.
  14. Introduced
  15. Committee

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