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Flood Insurance Tax Relief: Premium Deduction

This new law allows individuals to deduct flood insurance premiums from their income, potentially lowering their tax bill. This applies to both government and private flood insurance. It benefits property owners in flood-prone areas, but only for those whose income is below a certain threshold.
Key points
Ability to deduct flood insurance premiums from income, reducing taxable income.
Deduction covers both federal and private flood insurance premiums, including fees and surcharges.
The benefit is available to individuals with an adjusted gross income up to $200,000 ($400,000 for joint filers).
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_2313
Sponsor: Sen. Scott, Rick [R-FL]
Process start date: 2025-07-16
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Flood Insurance Relief Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_2313.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-07-16.

What are the main provisions?

Key points include:

  • Ability to deduct flood insurance premiums from income, reducing taxable income.
  • Deduction covers both federal and private flood insurance premiums, including fees and surcharges.
  • The benefit is available to individuals with an adjusted gross income up to $200,000 ($400,000 for joint filers).
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 Sen. Scott, Rick [R-FL].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Taxes Real Estate