What is the official ID of this bill?
The official print number for this legislation is S 3711.
Tax relief for wildfire victims: compensation payments excluded from income.
This bill excludes certain compensation payments received by individuals affected by federally declared wildfire disasters from federal gross income. This means that money received for losses, expenses (including living expenses, lost wages, and personal injury) will not be taxed. The relief applies to payments received during tax years starting after 2019 and before 2026, provided the losses were not already covered by insurance.
Key points
Compensation payments for losses resulting from qualified wildfire disasters (federally declared after December 31, 2014) are excluded from taxable income.
The exclusion covers compensation for additional living expenses, lost wages (excluding employer-paid wages), personal injury, death, or emotional distress.
Recipients cannot claim a deduction or credit for expenditures covered by the excluded payment, preventing a double tax benefit.
The tax relief is limited to payments received during tax years beginning after December 31, 2019, and before January 1, 2026.
Status:
Expired
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