Summary: H.R.2053 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for H.R.2053. Bill summaries are authored by CRS.

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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.