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United States · Bill · HR

H.R. 7849 (118th)

Disaster Resiliency and Coverage Act of 2024

referredUnited States· United States Congress· EN

Introduced

29 March 2024

Last action

29 March 2024 · Introduced

Status

Referred to the Committee on Ways and Means, and in addition to the Committee on Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Sponsors

Rep. Thompson, Mike [D-CA-4], Rep. LaMalfa, Doug [R-CA-1], Rep. Lee, Barbara [D-CA-12], Rep. Barragán, Nanette Diaz [D-CA-44], Rep. Brownley, Julia [D-CA-26], Rep. Moskowitz, Jared [D-FL-23], Rep. Lofgren, Zoe [D-CA-18], Rep. Carbajal, Salud O. [D-CA-24], Rep. Correa, J. Luis [D-CA-46], Rep. Huffman, Jared [D-CA-2], Rep. Costa, Jim [D-CA-21], Sen. Schiff, Adam B. [D-CA], Rep. Panetta, Jimmy [D-CA-19], Rep. Aguilar, Pete [D-CA-33], Rep. Valadao, David G. [R-CA-22], Rep. Lieu, Ted [D-CA-36], Rep. Mullin, Kevin [D-CA-15], Rep. Garcia, Robert [D-CA-42], Rep. Levin, Mike [D-CA-49], Rep. Neguse, Joe [D-CO-2], Rep. Chu, Judy [D-CA-28], Rep. Harder, Josh [D-CA-9], Rep. DeSaulnier, Mark [D-CA-10], Rep. Goldman, Daniel S. [D-NY-10], Rep. Blumenauer, Earl [D-OR-3], Del. Norton, Eleanor Holmes [D-DC-At Large], Rep. Carter, Troy A. [D-LA-2], Rep. Tokuda, Jill N. [D-HI-2], Rep. Leger Fernandez, Teresa [D-NM-3], Rep. Khanna, Ro [D-CA-17], Rep. Pettersen, Brittany [D-CO-7], Rep. Frost, Maxwell [D-FL-10], Rep. Craig, Angie [D-MN-2], Rep. Frankel, Lois [D-FL-22], Rep. Schrier, Kim [D-WA-8]

Subjects

Housing, Taxation

Source updated

27 February 2025

Housing · Taxation

Official sourceDownload fileView documentsShare

Summary

Disaster Resiliency and Coverage Act of 2024 This bill establishes a grant program for certain hazard mitigation measures for homes in disaster risk areas and provides a tax credit for up to 30% of expenditures on such mitigation measures. It also excludes from taxable income certain payments for residential hazard mitigation and federal emergency agricultural assistance.  The bill requires the Federal Emergency Management Agency (FEMA) to award grants to states and Indian tribal governments for specified hazard mitigation activities on residential properties at a high risk of experiencing a major disaster. FEMA must establish disaster risk areas in which homes are eligible for the grant funding. Individual residential households, subject to certain income limitations, may receive up to $10,000 (adjusted for inflation) for eligible hazard mitigation activities, such as reinforcing a roof, installing a flood control system, or reducing flammable vegetation near the home. The bill also provides an income tax credit to individuals and businesses for up to 30% of expenditures on the specified residential mitigation activities eligible under the grant program. Additionally, under current law, payments for disaster relief and payments under federal hazard mitigation programs are excluded from taxable income. The bill specifically excludes from taxable income payments to an individual for hazard mitigation improvements to their residence under any program established or administered by a state or local government. The bill also excludes certain federal emergency and disaster agricultural assistance from taxable income as a type of disaster relief payment.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 29 March 2024

    Introduced

    Referred to the Committee on Ways and Means, and in addition to the Committee on Transportation and Infrastructure, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

    Source: IntroReferral

  2. 29 March 2024

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 29 March 2024

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 29 March 2024

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  • Introduced in House (PDF)

    Introduced in House · EN · 29 March 2024

    ViewDownloadOpen at official source

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  • Introduced in House

    summary · EN · 29 March 2024

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Sponsors

Related records

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Sources

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