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Disaster Tax Relief: No More Limits on Homeowner Casualty Deductions.

This act aims to ease the burden on homeowners who suffer losses from disasters like fires or floods. It removes previous limits on deducting personal casualty losses from taxes, meaning citizens can recover more money after unfortunate events. These changes apply to losses sustained from January 1, 2023, onwards.
Key points
Homeowners can deduct the full amount of disaster-related losses from their taxes, without prior limitations.
This change applies to losses sustained in tax years beginning after December 31, 2022.
The goal is to provide greater financial support for individuals affected by natural disasters.
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Additional Information
Print number: 118_HR_318
Sponsor: Rep. Brownley, Julia [D-CA-26]
Process start date: 2023-01-12
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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

Protecting Homeowners from Disaster Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_318.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-01-12.

What are the main provisions?

Key points include:

  • Homeowners can deduct the full amount of disaster-related losses from their taxes, without prior limitations.
  • This change applies to losses sustained in tax years beginning after December 31, 2022.
  • The goal is to provide greater financial support for individuals affected by natural disasters.
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 Rep. Brownley, Julia [D-CA-26].

What is the latest detailed status?

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

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Taxes Real Estate