H.R. 7849 · 118th Congress
Disaster Resiliency and Coverage Act of 2024
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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ThompsonSponsor34 cosponsors · 32 D, 2 R
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LaMalfa
BL
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Lee
NB
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Barragán
JB
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Brownley
JM
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Moskowitz
ZL
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Lofgren
SC
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Carbajal
JC
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Correa
JH
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Huffman
JC
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Costa
AS
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Schiff
JP
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Panetta
PA
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Aguilar
DV
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Valadao
TL
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Lieu
KM
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Mullin
RG
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Garcia
ML
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Levin
JC
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Chu
JN
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Neguse
JH
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Harder
MD
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DeSaulnier
DG
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Goldman
EB
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Blumenauer
EN
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Norton
TC
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Carter
JT
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Tokuda
TL
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Leger Fernandez
RK
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Khanna
BP
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Pettersen
AC
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Craig
MF
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Frost
LF
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Frankel
KS
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Schrier1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
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.
What it does: CRS summary · Introduced in House · Mar 29, 2024
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Disaster Resiliency and Coverage Act of 2024
Latest action (Mar 29, 2024): 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.
Policy area: Emergency Management · Origin: House · Introduced: Mar 29, 2024
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.