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Tax Exemption for Chiquita Canyon Landfill Disaster Relief Payments.

This bill aims to exclude all compensation payments received by victims of the Chiquita Canyon landfill elevated temperature event from federal gross income. This ensures that residents affected by property damage, relocation costs, or suffering receive the full amount of financial aid without having to pay taxes on it. The tax exemption applies to payments received on or after March 1, 2024.
Key points
Compensation for property loss, relocation expenses, closing costs, and suffering related to the Chiquita Canyon landfill event is classified as qualified disaster relief.
Payments from the government or the responsible company (Waste Connections, Inc.) are exempt from federal income tax.
Affected citizens retain the full value of their financial relief, maximizing the aid received.
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Additional Information
Print number: 118_HR_9918
Sponsor: Rep. Garcia, Mike [R-CA-27]
Process start date: 2024-10-04