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To amend the Internal Revenue Code of 1986 to allow for a credit against tax for certain flood insurance expenses.

USA115th CongressHR-5543| House 
| Updated: 4/17/2018
Nydia M. Velázquez

Nydia M. Velázquez

Democratic Representative

New York

Ways and Means Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Flood Insurance Tax Credit Act of 2018 This bill amends the Internal Revenue Code to allow a tax credit for flood insurance expenses. The credit applies to portions of a taxpayer's expenses for federal flood insurance, private flood insurance, and federal contents coverage flood insurance for a principal residence. The amount of the credit is subject to limitations based on the taxpayer's income and must be adjusted for inflation after 2019.
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Timeline
Apr 17, 2018
Introduced in House
Apr 17, 2018
Referred to the House Committee on Ways and Means.
  • April 17, 2018
    Introduced in House


  • April 17, 2018
    Referred to the House Committee on Ways and Means.

Taxation

Disaster relief and insuranceFloods and storm protectionIncome tax creditsInflation and pricesInsurance industry and regulationLife, casualty, property insurance

To amend the Internal Revenue Code of 1986 to allow for a credit against tax for certain flood insurance expenses.

USA115th CongressHR-5543| House 
| Updated: 4/17/2018
Flood Insurance Tax Credit Act of 2018 This bill amends the Internal Revenue Code to allow a tax credit for flood insurance expenses. The credit applies to portions of a taxpayer's expenses for federal flood insurance, private flood insurance, and federal contents coverage flood insurance for a principal residence. The amount of the credit is subject to limitations based on the taxpayer's income and must be adjusted for inflation after 2019.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Apr 17, 2018
Introduced in House
Apr 17, 2018
Referred to the House Committee on Ways and Means.
  • April 17, 2018
    Introduced in House


  • April 17, 2018
    Referred to the House Committee on Ways and Means.
Nydia M. Velázquez

Nydia M. Velázquez

Democratic Representative

New York

Ways and Means Committee

Taxation

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Disaster relief and insuranceFloods and storm protectionIncome tax creditsInflation and pricesInsurance industry and regulationLife, casualty, property insurance