Lets wildfire victims keep more relief money by making it tax-free.
This bill would make certain payments for wildfire losses tax-free for individuals. People who receive money to cover expenses, damages, or lost wages from federally declared wildfires would not have to include it in their taxable income. This change would apply to payments received after December 31, 2025, and before January 1, 2033.
Today, compensation for losses or damages resulting from wildfires, if not already covered by other tax rules, would be counted as part of an individual's gross income and could be taxed. After this bill, qualified wildfire relief payments received by individuals would be excluded from their gross income, making them tax-free. This change would apply to payments received after December 31, 2025, and before January 1, 2033.
HR 5225 · 119th Congress · AI Summary by gemini-2.5-flash · 9/10
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3 filings mentioned this bill
Amounts reflect total quarterly lobbying spend reported to the Senate, not bill-specific spending. Source: Senate LDA filings.