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Tax Relief for Disaster Mitigation Home Improvements

This act allows citizens to exclude from their taxable income any money received from state programs for making their homes safer from natural disasters like windstorms, earthquakes, or wildfires. This means funds used for home improvements to reduce disaster damage will not be taxed, potentially increasing safety and reducing losses during natural catastrophes.
Key points
Money received from state programs for home improvements to reduce damage from windstorms, earthquakes, or wildfires will not be taxed.
The exclusion applies to payments specifically for improvements aimed at mitigating catastrophe damage to a residence.
These changes are effective for tax years beginning after December 31, 2021.
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Additional Information
Print number: 117_S_2432
Sponsor: Sen. Feinstein, Dianne [D-CA]
Process start date: 2021-07-22
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Disaster Mitigation and Tax Parity Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_2432.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-07-22.

What are the main provisions?

Key points include:

  • Money received from state programs for home improvements to reduce damage from windstorms, earthquakes, or wildfires will not be taxed.
  • The exclusion applies to payments specifically for improvements aimed at mitigating catastrophe damage to a residence.
  • These changes are effective for tax years beginning after December 31, 2021.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Feinstein, Dianne [D-CA].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Taxes Real Estate Environment