HR1270-118

1. East Palestine disaster relief payments The East Palestine train derailment is hereby deemed to be a qualified disaster for the purposes of section 139(c) of the Internal Revenue Code of 1986. For purposes of the Internal Revenue Code of 1986, gross income does not include any amounts provided to a taxpayer to compensate such taxpayer for lost business income resulting from the East Palestine train derailment by a— Federal, State, or local government agency, Norfolk Southern Railway, or any subsidiary, insurer, or agent of Norfolk Southern Railway or any related person. For purposes of this section, the term East Palestine train derailment means the derailment of a train in East Palestine, Ohio, on February 3, 2023. This section shall apply to amounts received on or after February 3, 2023.