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S 336 · in committee · major

Disaster Mitigation and Tax Parity Act of 2025

What this bill does

  • This bill allows homeowners to exclude disaster mitigation payments from state programs from federal taxable income.
  • It affects individuals who receive money from state catastrophe loss programs to improve their homes against storms, earthquakes, floods, or wildfires.
  • The tax exclusion applies immediately and does not increase property tax basis for affected homeowners.

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Community Threads

Started by Cosponsor

  1. 01

    How would excluding disaster mitigation payments from federal income affect the tax burden on homeowners who receive state catastrophe assistance versus those who don't?

  2. 02

    What evidence supports that homeowners will actually use state disaster mitigation funds for improvements rather than other purposes if the payments remain tax-free?

  3. 03

    How might this tax exclusion influence state decisions about funding disaster prevention programs, and who would bear the fiscal cost of foregone federal revenue?

Cosponsor writes these to seed civic discussion — they aren't user posts. Sign in to reply.

Sponsor · R-NC

Thom Tillis

Citizen cosponsors

0

In Congress

12/ 100

Senators cosponsoring

Introduced 2025-01-30

Joining the bill

Legislative timeline

  1. 2025-01-30 · senate · IntroReferral

    Read twice and referred to the Committee on Finance.

  2. 2025-01-30 · IntroReferral

    Introduced in Senate

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