arrow_back Back to App

Higher Reporting Threshold for Natural Disaster Expenses

New rules increase the amount companies must report for payments related to natural disaster services and repairs. Instead of $600, the threshold is now $5,000. This means less paperwork for businesses and individuals receiving payments for work related to protecting or repairing property after extreme weather events.
Key points
Increased reporting threshold for natural disaster expenses from $600 to $5,000.
The change applies to payments for both services and property repairs damaged by natural disasters or extreme weather.
Reduced bureaucracy for businesses and individuals involved in property protection or repair work after natural disasters.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_1093
Sponsor: Rep. Pettersen, Brittany [D-CO-7]
Process start date: 2025-02-06
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Natural Disaster Property Protection Act of 2025

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_1093.

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 2025-02-06.

What are the main provisions?

Key points include:

  • Increased reporting threshold for natural disaster expenses from $600 to $5,000.
  • The change applies to payments for both services and property repairs damaged by natural disasters or extreme weather.
  • Reduced bureaucracy for businesses and individuals involved in property protection or repair work after natural disasters.
What is the specific legal status?

The current status is Introduced.

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. Pettersen, Brittany [D-CO-7].

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 2025-12-22.

CATEGORIES

Taxes Real Estate Environment