To amend the Internal Revenue Code of 1986 to exclude from gross income certain income from providing real property insurance following certain federally declared disasters.
Summary
What This Bill Does
The bill requires exclusion of certain income from providing real property insurance following certain federally declared disasters Part II of subchapter L of chapter 1 of the Internal Revenue Code of 1986 is amended by adding and requires exclusion of certain income from providing real property insurance following certain federally declared disasters In the case of each taxable year in the recovery period, there shall be excluded from the gross. It relies on definition changes, tax deductions, compliance mandates, and exemptions. The main policy areas are Disaster Relief And Emergency Management and Criminal Justice.
Who Benefits and How
Disaster response agencies and disaster-affected communities could gain revenue opportunities and Public beneficiaries or protected communities affected by the clause could face reduced risk.
Who Bears the Burden and How
Federal, state, or local agencies responsible for implementing the clause would take on compliance duties.
Key Provisions
- Requires exclusion of certain income from providing real property insurance following certain federally declared disasters Part II of subchapter L of chapter 1 of the Internal Revenue Code of 1986 is amended by adding...
- Requires exclusion of certain income from providing real property insurance following certain federally declared disasters In the case of each taxable year in the recovery period, there shall be excluded from the gross...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill requires exclusion of certain income from providing real property insurance following certain federally declared disasters Part II of subchapter L of chapter 1 of the Internal Revenue Code of 1986 is amended by adding and requires exclusion of certain income from providing real property insurance following certain federally declared disasters In the case of each taxable year in the recovery period, there shall be excluded from the gross.
Key Policy Areas
Disaster Relief And Emergency Management, Criminal Justice
Primary Purpose
The bill requires exclusion of certain income from providing real property insurance following certain federally declared disasters Part II of subchapter L of chapter 1 of the Internal Revenue Code of 1986 is amended by adding and requires exclusion of certain income from providing real property insurance following certain federally declared disasters In the case of each taxable year in the recovery period, there shall be excluded from the gross.
Policy Domains
Whole bill
Identified Gains
- Disaster response agencies and disaster-affected communities
- Public beneficiaries or protected communities affected by the clause
Identified Costs
- Federal, state, or local agencies responsible for implementing the clause
Sponsors
Legislative Progress
IntroducedMr. Higgins of Louisiana introduced the following bill; which was …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
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