S. 35 — Homeowners Premium Tax Reduction Act of 2025

This section establishes an above-the-line deduction (i.e., allowable in computing adjusted gross income) for qualified homeowners insurance premiums paid or incurred with respect to an individual's principal residence, up to $10,000 per taxable year ($0 previously), for taxable years ending after enactment. (Thus, the deduction is available regardless of whether the taxpayer itemizes deductions.)