What is the official ID of this bill?

The official print number for this legislation is HR 4070.

When did the legislative process begin?

The process officially started on 2023-06-13.

Where can I read the full text of this legislation?

The full official text is available at: https://www.congress.gov/118/bills/hr4070/BILLS-118hr4070ih.htm

Is this summary verified?

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

Who is the primary sponsor?

The primary sponsor is Rep. LaMalfa, Doug [R-CA-1].

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 4070

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 Disaster Mitigation Payments

Q: What are the main provisions?

Key points include: Funds received for property improvements to reduce damage from windstorms, earthquakes, or wildfires are now tax-exempt. This applies to payments from state, local, or specific insurance market entities. The changes are retroactive to tax years starting after 2020, allowing for amended tax returns.

This act allows citizens to exclude from their taxable income any money received from state programs for making their homes more resilient to natural disasters like windstorms, earthquakes, or wildfires. This means financial aid for property improvements aimed at reducing disaster damage will not be taxed. The changes apply to tax years beginning after December 31, 2020, with an option to amend previous tax returns.

Key points

Funds received for property improvements to reduce damage from windstorms, earthquakes, or wildfires are now tax-exempt.

This applies to payments from state, local, or specific insurance market entities.

The changes are retroactive to tax years starting after 2020, allowing for amended tax returns.

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Additional Information

Disaster Mitigation and Tax Parity Act of 2023

Print number: HR 4070

Sponsor: Rep. LaMalfa, Doug [R-CA-1]

Process start date: 2023-06-13

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

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Tax Relief for Disaster Mitigation Payments

Key Questions about Tax Relief for Disaster Mitigation Payments