What is the official ID of this bill?

The official print number for this legislation is HR 7305.

When did the legislative process begin?

The process officially started on 2022-03-30.

Where can I read the full text of this legislation?

The full official text is available at: https://www.congress.gov/117/bills/hr7305/BILLS-117hr7305ih.htm

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

Who is the primary sponsor?

The primary sponsor is Rep. Thompson, Mike [D-CA-5].

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Analysis and Potential Impact of HR 7305

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge. Review our public AI processing logs for full transparency, and use Lustra to track active legislation for instant status push notifications.

Tax Relief for Wildfire Victims: Deductions and Income Exclusions

Q: What are the main provisions?

Key points include: Attorney fees and court costs related to awards for qualifying wildfire damages can be deducted from taxable income. Settlement funds received from qualified settlement funds for wildfire losses or damages will not be included in gross income. These provisions apply to wildfires occurring in 2015 or later that are federally declared disasters.

This bill introduces significant changes for individuals affected by wildfires. It allows for the deduction of attorney fees related to wildfire damage awards and excludes settlement funds received for such damages from gross income. This helps victims retain more funds to rebuild their lives after a disaster.

Key points

Attorney fees and court costs related to awards for qualifying wildfire damages can be deducted from taxable income.

Settlement funds received from qualified settlement funds for wildfire losses or damages will not be included in gross income.

These provisions apply to wildfires occurring in 2015 or later that are federally declared disasters.

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Additional Information

To amend the Internal Revenue Code of 1986 to establish a deduction for attorney fees awarded with respect to certain wildfire damages and to exclude from gross income settlement funds received with respect to such damages.

Print number: HR 7305

Sponsor: Rep. Thompson, Mike [D-CA-5]

Process start date: 2022-03-30

System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.

Summarized by: gemini-2.5-flash-preview-05-20

Source data: api.congress.gov

AI work logs for this document launch

Tax Relief for Wildfire Victims: Deductions and Income Exclusions

Key Questions about Tax Relief for Wildfire Victims: Deductions and Income Exclusions