H.R.2053 - Earthquake Mitigation Incentive and Tax Parity Act of 2019116th Congress (2019-2020) |
|Sponsor:||Rep. Thompson, Mike [D-CA-5] (Introduced 04/03/2019)|
|Committees:||House - Ways and Means|
|Latest Action:||House - 04/03/2019 Referred to the House Committee on Ways and Means. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed House
- Passed Senate
- To President
- Became Law
Summary: H.R.2053 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in House (04/03/2019)
Earthquake Mitigation Incentive and Tax Parity Act of 2019
This bill modifies the requirements for calculating taxable income to exclude from gross income any amount received as a qualified earthquake mitigation payment.
A "qualified earthquake mitigation payment" is any amount received by a residential property owner or occupant under an earthquake loss mitigation program established by a state (including an agency, instrumentality, or political subdivision of the state) or by a state with a tax-exempt organization or public instrumentality of the state.