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Flood Insurance Tax Credit and Advance Payments for Homeowners

This new act introduces a tax credit for individuals paying flood insurance premiums for their primary residence. Citizens can receive a 33% refund of paid premiums and also benefit from advance payments to cover these costs, aiming to reduce the financial burden associated with flood protection.
Key points
Ability to recover 33% of flood insurance costs for a primary residence through a tax credit.
Availability of advance payments to cover a portion of insurance premiums, improving financial liquidity.
The credit is limited for higher-income individuals to support those most in need.
Requirement for married individuals to file a joint return to claim the credit.
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Status: Introduced
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Additional Information
Print number: 119_S_586
Sponsor: Sen. Cassidy, Bill [R-LA]
Process start date: 2025-02-13
System Note: Lustra is free, publicly auditable civic infrastructure — 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
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Flood Insurance Affordability Tax Credit Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_586.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-02-13.

What are the main provisions?

Key points include:

  • Ability to recover 33% of flood insurance costs for a primary residence through a tax credit.
  • Availability of advance payments to cover a portion of insurance premiums, improving financial liquidity.
  • The credit is limited for higher-income individuals to support those most in need.
  • Requirement for married individuals to file a joint return to claim the credit.
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. Cassidy, Bill [R-LA].

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.

What is the impact of this bill?

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.

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