Protecting Homeowners from Disaster Act of 2021

Bill: 117-hr-2191
Sponsor: full_name: Rep. Brownley, Julia [D-CA-26]
Introduced: 2021-03-26
Policy area: Taxation
Subjects: Income tax deductions

Life, casualty, property insurance

Tax administration and collection, taxpayers
Latest action: action_date: 2021-03-26
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2021-03-26
action_desc: Introduced in House
text: <p><strong>Protecting Homeowners from Disaster Act of 2021</strong></p> <p>This bill repeals the tax rule in effect through 2025 that limits the deduction for personal casualty losses to losses attributable to a federally declared disaster.</p>

tv_txt: I 117th CONGRESS 1st Session H. R. 2191 IN THE HOUSE OF REPRESENTATIVES March 26, 2021 Ms. Brownley 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 repeal the limitation on deductions for personal casualty losses.

1. Short title This Act may be cited as the Protecting Homeowners from Disaster Act of 2021 . 2. Repeal of limitation on deduction for personal casualty losses (a) In general Section 165(h) of the Internal Revenue Code of 1986 is amended by striking paragraph (5). (b) Effective date The amendment made by this section shall apply to losses sustained in taxable years beginning after December 31, 2020.