I 

118TH CONGRESS 

1ST SESSION H. R. 1545 

To amend the Internal Revenue Code of 1986 to exclude from gross income 

certain income from providing real property insurance following certain 

federally declared disasters. 

IN THE HOUSE OF REPRESENTATIVES 

MARCH 10, 2023 

Mr. HIGGINS of Louisiana introduced the following bill; which was referred 

to the Committee on Ways and Means 

A BILL 

To amend the Internal Revenue Code of 1986 to exclude 

from gross income certain income from providing real 

property insurance following certain federally declared 

disasters. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE. 

4 This Act may be cited as the ‘‘Restoring Competitive 

5 Property Insurance Availability Act’’. 


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1 SEC. 2. EXCLUSION OF CERTAIN INCOME FROM PROVIDING 

2 REAL PROPERTY INSURANCE FOLLOWING 

3 CERTAIN FEDERALLY DECLARED DISASTERS. 

4 (a) IN GENERAL.—Part II of subchapter L of chap5 ter 1 of the Internal Revenue Code of 1986 is amended 

6 by adding at the end the following new section: 

7 ‘‘SEC. 836. EXCLUSION OF CERTAIN INCOME FROM PRO8 VIDING REAL PROPERTY INSURANCE FOL9 LOWING CERTAIN FEDERALLY DECLARED 

10 DISASTERS. 

11 ‘‘(a) IN GENERAL.—In the case of each taxable year 

12 in the recovery period, there shall be excluded from the 

13 gross income of each specified insurance company the 

14 qualified real property insurance income of such company 

15 for such taxable year with respect to any disaster area. 

16 ‘‘(b) SPECIFIED INSURANCE COMPANY.—For pur17 poses of this section, the term ‘specified insurance com18 pany’ means, with respect to any disaster area, any insur19 ance company (other than a life insurance company) 

20 which, immediately prior to the incident date with respect 

21 to such disaster area, provided real property insurance 

22 with respect to property located in such disaster area. 

23 ‘‘(c) QUALIFIED REAL PROPERTY INSURANCE IN24 COME.—For purposes of this section, the term ‘qualified 

25 real property insurance income’ means, with respect to 


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1 any specified insurance company for any taxable year, the 

2 excess of— 

3 ‘‘(1) the premiums received by such insurance 

4 company for real property insurance with respect to 

5 property located in the disaster area, over 

6 ‘‘(2) deductions properly allocable to such pre7 miums. 

8 ‘‘(d) REAL PROPERTY INSURANCE.—For purposes of 

9 this section, the term ‘real property insurance’ shall in10 clude the coverage of risks associated with personal prop11 erty if such risks are covered under the same policy that 

12 covers risks associated with real property and such per13 sonal property is located on such real property. 

14 ‘‘(e) RECOVERY PERIOD.—For purposes of this sec15 tion, the term ‘recovery period’ means, with respect to any 

16 disaster area, the first 5 taxable years ending after the 

17 incident date with respect to such disaster area. 

18 ‘‘(f) DISASTER AREA.—For purposes of this section, 

19 the term ‘disaster area’ has the meaning given such term 

20 in section 7508A(d)(3). 

21 ‘‘(g) INCIDENT DATE.—For purposes of this section, 

22 the term ‘incident date’ means, with respect to any dis23 aster area, the earliest incident date specified in the dec24 laration with respect to such disaster area.’’. 


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1 (b) CLERICAL AMENDMENT.—The table of sections 

2 for part II of subchapter L of chapter 1 of the Internal 

3 Revenue Code of 1986 is amended by adding at the end 

4 the following new item: 

‘‘Sec. 836. Exclusion of certain income from providing real property insurance 

following certain federally declared disasters.’’. 

5 (c) EFFECTIVE DATE.—The amendments made by 

6 this section shall apply to disaster areas the incident date 

7 (as defined in section 836(g) of the Internal Revenue Code 

8 of 1986, as added by this section) of which is after Decem9 ber 31, 2022. 

Æ 


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