118th Congress · HOUSE BILLBILL

H.R. 1545 — Restoring Competitive Property Insurance Availability Act

“To amend the Internal Revenue Code of 1986 to exclude from gross income certain income from providing real property insurance following certain federally declared disasters.”

Taxation

Introduced Mar 10, 2023

Last action Mar 10, 2023

Pipeline · Bill → Law

Step 1

Introduced

Mar 10, 2023

Step 2

Referred

Mar 10, 2023

Ways & Means

Step 3

Committee

Step 4

House floor

Step 5

Senate

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill excludes from the gross income of specified insurance companies (other than life insurance companies) certain income from providing qualified real property insurance after a federally declared disaster. The bill defines qualified real property insurance income to mean the excess of premiums received by such insurance companies for real property insurance for property located in the disaster area, over deductions properly allocable to such premiums.

Provisions · 2 sectionsIntroduced in House

Timeline · 2 actions

Mar 10, 2023

Introduced in House

Mar 10, 2023

Referred to the House Committee on Ways and Means.