Protect Innocent Victims Of Taxation After Fire Act

Hozzl · 2024-01-24T15:15:16Z

Explore the details of House Bill 4970 Protect Innocent Victims Of Taxation After Fire Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

1/24/2024, 3:15 PM

Congressional Summary of HR 4970

Protect Innocent Victims Of Taxation After Fire Act

This bill excludes from gross income, for income tax purposes, any amount received after 2019 and before 2026 by an individual taxpayer as a qualified wildfire relief payment. The bill defines such payment as compensation for expenses or losses incurred as a result of a federally declared forest or range fire disaster.

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Current Status of Bill HR 4970

Bill HR 4970 is currently in the status of Bill Introduced since July 27, 2023. Bill HR 4970 was introduced during Congress 118 and was introduced to the House on July 27, 2023. Bill HR 4970's most recent activity was Referred to the House Committee on Ways and Means. as of July 27, 2023

Bipartisan Support of Bill HR 4970

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 4970

Primary Policy Focus

Taxation

Alternate Title(s) of Bill HR 4970

Protect Innocent Victims Of Taxation After Fire ActProtect Innocent Victims Of Taxation After Fire ActTo provide an exclusion from gross income for compensation for expenses and losses resulting from certain wildfires.

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